In a new report from International Wine and Spirit Research (IWSR), figures show that both consumption and production of wine in China is set to explode over the next four years. From 2005 to 2009 Hong Kong and China increased consumption by over 100% to 95.9 million cases and this figure is expected to climb another 20% in the next 3 years to over 126 million cases.
Local production will also increase to handle this demand, as the number of cases produced in China is anticipated to reach 128 million over the same time period. The chairman of Vinexpo, Xavier de Eizaguirre, said that this burgeoning consumption will continue to be met by local supply as the Chinese market is 90% domestic.
European wine powerhouses of Italy, Spain and France are the largest producers of wine in the world, at just under half of the planets production of 3 billion cases. Production in these countries is expected to decline by between one and seven percent due to vine-land management techniques and amalgamation of vineyards.
Argentina, Chile, South Africa and China are the only countries expected to increase production, whereas the US will become the biggest consumer by 2012. The 300 million-case barrier is expected to be breached by US consumers, supplanting Italy as the largest consumer nation.
The most growth in consumption of wine is expected to come from the US, China and also Russia over the next four years. Vinexpo has estimated that fully 25% of the world’s wine production is consumed in a country where it was not made, and this export trend is expected to rise over the coming years. With a world-wide production of 3 billion cases, or 36 billion bottles, one can expect to see increasing variety at your local wine retailer.
Tags: Asian market