Vine to Bottle: Wine Industry Facts & Figures 2014
There has probably not been a more exciting time to be in the wine industry than in the past decade. Tremendous growth in sales, marked improvement in quality and a growing interest in wine in new geographies have boosted the industry in more ways than one.
VINEXPO, the well-known international wine and spirits exhibition has commissioned a study from market intelligence provider International Wine and Spirit Research and came up with astounding results.
Here’s a look at the wine world by numbers:
- While a slowdown in the Chinese wine market was seen at the end of 2013, Asia Pacific continues on an upward trend. By the end of 2017, 4 billion bottles of wine will have been consumed in this region. Yes, a lot of these bottles will most likely be drunk in China but there are emerging countries in Asia that are set to rock the world of fine wine in the next 5 years.
- New wealth and emerging middle classes have made Asia a major player in the wine trade. By the end of 2013, Asia was in 3rd place, after Europe and America, among the top wine-consuming continents in the world.
- Asian wine consumption is expected to grow by 22.84% between 2013-2017.
- By the end of 2017, 230 million 9-litre cases of wine are estimated to be consumed by China.
- 3.476 billion- the number of bottles of still and sparkling wines drunk in Asia at the end of 2013.
- Currently,China (including Hong Kong) is the number one red wine market in the world, followed by France.
- Asia’s expenditure for imported wines will reach 52% by the end of 2017.
- And just to show you how much Asians love their imported bottles of wine, it is estimated that 1.19 billion bottles of imported wine will have been drunk in Asia by 2017.
- 750,000 square feet-the size of the biggest wine storage facility in Asia called Singapore Wine Vault (SGWV) located along Singapore’s Fishery Port Road.
- The Chinese market for fine wine is experiencing a downturn but there are 4 countries in Southeast Asia that are most likely going to find a way to make up for the glut. Justerini & Brooks’ managing director Chadwick Delaney told The Drinks Business that he considers Singapore, Indonesia, Malaysia and Taiwan as the most exciting markets for Fine Wines for 2014.
- Italy continues to be the number one largest wine exporter by volume in the world between the period of 2008-2012.
- The growth of Spanish wine exports into Asia Pacific between 2008-2012 is a staggering 167%. This is definitely another indication of the region’s growing interest in wine producing countries outside of France and Italy.
- Of course, France is still in the game and is the leading exporter of wine in Asia Pacific and the 3rd largest exporter by volume worldwide. It continues to be number one as the world’s leading exporter by value (Period of 2008-2012).
- America continues to be the leading market for wine in the world with a steady growth of 11.36% between 2008-2012.
- In the next 5 years, the American wine market will grow by 14%.
- America’s thirst for wine will bring up their total consumption to 4.6 billion bottles by the end of 2017.
- The world continues to love imported wines. At the end of 2012 the percentage of imported, still, light wines worldwide went up to 27.
- Imported still light wines are expected to see a growth of 7.8% from 2012 until end of 2017.
- The growth in the sales of Prosecco worldwide as a cheaper alternative to champagne has given rise to sparkling wine as one of the three fastest growing wine segments in the world. The other two are rosé and premium wines.
- The world no longer saves sparkling wines for special celebrations and milestones. Between 2008-2012, the wine industry saw a 5.66% increase in worldwide consumption of sparkling wines. And it is not stopping there. In the UK, for instance, this category saw a double digit growth in September of 2014. The International Organisation of Vine and Wine or OIV also reveals that production of Sparkling wine has grown by 40% in the last 10 years. A staggering contrast to the growth of 7% growth in still wine production over the same period.
It is inevitable that with Asia Pacific’s growing reputation as a global hub for fine wine, collectors and enthusiasts in the region will also be on the lookout for world-class facilities to keep their exclusive collections under lock and key. Singapore Wine Vault (SGWV) offers their discerning clientele just that with the largest climate controlled facility along located Singapore’s Fishery Port Road. At SGWV, the best vintages are kept safe in the most ideal conditions. Clients may also have access to The Drôme, a section dedicated to clients who want to customize their own cellars to their own specifications.