The wine and spirits exhibition, Vinexpo, will
return to Hong Kong’s Convention & Exhibition Centre 25 - 27 May
2010.
Vinexpo
Asia Pacific 2010 incorporates an extensive programme of seminars
and events in which international auctioneers Christie's will also
participate this year – reflecting significant growth of Asian
buyers at prominent wine auctions worldwide.
Mr
David Elswood, Christie's International Head of Wine Department,
will be addressing at the Vinexpo Asia Pacific Academy on 27th
May. And immediately after the Exhibition, on 28th May, Christie's
will be staging its wine auction in Hong Kong.
"As
the world's leading auction business, Christie's plays a crucial
role within the wine industry. Our long-standing collaboration
with Vinexpo in the past now takes us to Hong Kong, where we
continue to develop this region through outreach, education and
networking," said Mr Elswood.
Hong Kong wine consumption increased by 75.9%
from 2004-2008, and the Vinexpo / The IWSR study forecasts
continued growth of 70.8% between 2009 and 2013 – reaching 4.793
million 9-litre cases, equivalent of 57.5 million bottles.
The study noted significant growth in Hong Kong
consumption since duty on wine was abolished by the Hong Kong
government in February 2008.
“The decrease in taxes makes cheaper
wines more popular,” it noted, with marked growth in sales of wine
priced under US$10 (HK$78).
Between 2008 and 2013, consumption of wines
priced at less than US$5 per bottle is expected to increase the
most and is estimated to attain a growth of 166.5%.
Hong Kong consumers predominantly prefer red
wines, accounting for 80.6% of sales. White wines account for
16.1% and rosés 3.3%.
“All market segments are
growing, but red wines are expected to grow faster than the others
between 2009 and 2013,” reported the Vinexpo / The IWSR study.
One in three bottles of wine drunk in Hong Kong comes
from France, which is the leading supplier to the market, with
growth of 41.8% between 2004 and 2008.
But
competing markets are catching up. Over the same period, Chilean
wine imports grew by 170.5%, while Australian and American wine
sales doubled.
Consumption of spirits is meanwhile
expected to stabilise in Hong Kong between 2009 and 2013, after
negligible 3.2% growth from 2004- 2008. “Whisky and vodka are among
the few imported spirits to gain any ground, as the vast majority
of spirits consumed in Hong Kong are local beverages,” the study
reported.
Deceleration in spirits sales across
Asia, the world’s leading consumer region which in 2008 accounted
for 50.6% of global sales, is especially hitting brandy and
whisky.
“Asia, and particularly China and India,
have become key growth markets for the world’s wine and spirits
industry,” said Mr Robert Beynat, Chief Executive of Vinexpo
Asia Pacific.
Together, China and Hong Kong have
meanwhile been declared the main markets of growth in global wine
consumption – posting the highest worldwide growth in wine
consumed: 8.72 million more cases of still light wine drunk in one
year.
This trend recurred in 2009 with growth of
5.29 million 9-litre cases. According to latest confirmed sales,
China and Hong Kong accounted for 68.9% of all still light wines
consumed in Asia and 3% of total world wine consumption in 2008,
with the trend continuing in 2009.
China has now
officially become not only the world’s 8th largest wine consumer,
but also the 10th largest producer in 2008. By 2013, China is
expected to become the 7th largest wine consumer in the world.
Wines “made in China” currently account for 88.2% of
the national market. Growth of 26.7% is expected from 2009-2013.
Japan is the second largest wine-consuming nation in
Asia, but with only moderate growth, while India’s growth is
eye-catching, predicted to double between 2009 and 2013.
Asia Pacific accounts for 6.6% of all wine drunk in the
world, with wine sales reaching US$7 billion in 2009. Consumption
over the decade from 2004-2013 is predicted to grow by more than
North America over the same period.
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