Hong Kong leads Asian wine market

The latest 2010 market study conducted for Vinexpo by The International Wine and Spirits Record has found that wine consumption in Hong Kong continues to grow. The annual per capita consumption among the population of legal drinking age now stands at 3.6 litres.

This makes Hong Kong the region's most mature market, significantly ahead of both Japan and Singapore, which have a per capita consumption of 2.5 and 2.1 litres, respectively.

The study was published ahead of Vinexpo Asia-Pacific, which will return to Hong Kong for the third time on May 25-27. Vinexpo is a wine and spirits exhibition and this year 800 exhibitors from around 30 countries will showcase their goods at the event.

Hong Kong's total wine consumption increased by 75.9% from 2004 to 2008, and the study forecasts continued growth of 70.8% between 2009 and 2013 -- reaching 4.793 million nine-litre cases, or the equivalent of 57.5 million bottles at the end of that period.

The study noted significant growth in Hong Kong consumption since duty on wine was abolished by the Hong Kong government in February 2008. "The decrease in taxes makes cheaper wines more popular," it said.