Asia set to become the largest market for wine in the coming years

Market - Mohit Shah - Jul 25,2017

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asia set to become the largest market for wine in the coming years

As per reports, it is expected that countries in Asia are set to dominate global wine consumption with rising interest among consumers.

Wine is basically an alcoholic beverage made from grapes, usually Vitis vinifera, fermented in the absence of sugars, enzymes, acids, water, or other nutrients. Further, wines which are not made out of grapes include rice wine and fruit wines such as cherry, plum, pomegranate, and elderberry. In the past few years, it can be noticed that the demand for wine in Asian countries has surged significantly.

As per a new report published by Market Research Hub (MRH), Asia is set to dominate global wine consumption by 2018, due to the surging interest among Asian consumers pacing steadily since the past two decades. Furthermore, the main driver of wine consumption in the Asian region is spotted to be the middle-class consumers with more throwaway income and inclination towards a better quality of life.

Currently, the major product segments of wine which have grown popularity in the Asian countries include sparkling grape wines, Vermouth, unfermented grape must and other flavored grape wines. To be specific on the geographical aspect, the five major countries active in wine industry focusing on the Asian region are China, India, South Korea, Japan, and Thailand. 

Out of these five countries, China emerges as the prosperous and promising contributor. The quality of China’s domestic wine is progressively improving, fronted by several small boutique wineries mainly located in Xinjiang, Ningxia, and Shanxi in northwestern China. This has been possible not only due to the share of domestically grown grapes proposed for wine has risen, but also due to the import rate by China in bulk which focuses on the wine made from Chinese grapes. Another interesting fact from the Asian market highlights a general preference for red rather than white wine as a result of its alleged health benefits.

 

For more information on this report visit- http://www.marketresearchhub.com/report/wine-markets-in-the-top-5-asian-countries-to-2021-market-size-development-and-forecasts-report.html