Vinexpo Asia-Pacific 2010 returns to Hong Kong

HONG KONG is confirmed as the leader of the Asian wine market as the world's premier wine and spirits exhibition, Vinexpo, returns to Hong Kong's Convention & Exhibition Centre (HKCEC) from 25 to 27 May. Vinexpo Asia-Pacific is held every two years, with Hong Kong selected as the venue for the third consecutive time. This year, 800 exhibitors from around 30 countries will occupy 8,500 sq. m of floor space. More than 9,500 professional visitors including importers, wholesalers, food & beverage managers, sommeliers, restaurateurs, hyper- and supermarket buyers are expected from this fast-developing region of consumers. Wine consumption in Hong Kong continues to grow with annual per capita consumption up to 3.6 litres for the population of legal drinking age, according to the latest market study conducted for Vinexpo by The International Wine and Spirits Record (The IWSR). Region's most mature market The figures reflect Hong Kong's growth to the region's most mature market, significantly ahead of both Japan and Singapore, with per capita consumption at 2.5 and 2.1 litres, respectively. 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 the Hong Kong government abolished duty on wines 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%, whilst 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 amongst the few imported spirits to gain any ground, as the vast majority of spirits consumed in Hong Kong are local beverages," the study reported. Wines pass spirits growth in Asia 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. In 2008, Asian-Pacific countries accounted for 6.6% of all the wines drunk in the world. Over the 10-year period from 2004 to 2013, Asian-Pacific wine consumption should grow by 86 million cases, which is more than the 85-million-case growth expected on the North American continent in the same period. Consumption of grape-based wine in Asia reached 111.63 million 9- litre cases in 2008, the equivalent of 1.34 billion bottles, an increase of 51.93% compared to 2004. Consumption is expected to increase between 2009 and 2013 with more than a further 30 million 9-litre cases being consumed, a forecast increase of more than 25%. "Asia, and particularly China and India, have become key growth markets for the world抯 wine and spirits industry," said 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 theDesigners Sneakers