Japan to become largest market for sparkling wines in Asia-Pacific
The consumption will be reaching a volume of 4.84 million cases and overtaking Australia as the largest market for sparkling wines in Asia-Pacific.
In fact, consumption of sparkling wines in Japan is growing twice as fast as that of still wines, thanks in part to the growing popularity of lower-priced Cavas and Proseccos from Spain and Italy which are lining Japanese liquor shelves.
These are among some of the findings released ahead of Vinexpo Hong Kong, the biggest and most important wine trade event in Asia taking place next week.
While France is the leading supplier for Japan, the import of Chilean wines increased by a whopping 144% between 2010 and 2014 thanks to the signing of a cost-advantage free trade agreement. Italian wines increased by 46% and Spanish wines 79% over the same period.
Japanese wine consumption overall is forecast to reach a volume of 46.7 million cases, or 14%, between 2015 and 2019. Japan is the third largest wine market in Asia-Pacific after China and Australia.
Though wine consumption is expected to grow, the consumption of spirits is predicted to continue declining. Between 2015 and 2019, consumption will fall by 7%.
The one spirit that will buck the trend is whisky: Consumption reached 12.38 million cases in 2014, and is predicted to increase by another 12% over a five-year period. ■