Say cheers as HK hosts biggest Asia wine expo
Print Edition
ASIA’S biggest wine and spirits fair opened in Hong Kong yesterday, drawing the world’s top producers from France to Chile despite China’s mainland reporting the first decline in wine consumption for a decade.
According to a survey by Vinexpo Asia Pacific, the mainland’s wine consumption fell by 2.5 percent last year, after 10 straight years of growth at a rate of 25 percent per year.
The drop comes as China reins in luxury spending and extravagant banquets, against the backdrop of a slower economy, and an anti-graft campaign backed by President Xi Jinping to root out official corruption.
However, show organizers, who expanded the trade fair by 50 percent in floor space from its last edition in 2012, are adamant there are still strong opportunities for the wine and spirits markets in the region, because of increased demand from a growing middle class.
“This is the largest Vinexpo Asia Pacific ever. The markets of Southeast Asia and China are still booming,” Vinexpo Chief Executive Officer Guillaume Deglise said. “There are many markets in Asia where the middle class is expanding and this represents a great potential for the wine and spirits industry.”
Xavier de Eizaguirre, chairman of Vinexpo, said that the region has seen exponential growth for the past two decades. “Little did we know two decades (ago) Asia led by China and Japan would reach 63 percent of world’s spirits consumption,” he said at the event’s opening ceremony at Hong Kong’s harborside exhibition center.
In 2013, China overtook France as the world’s largest consumer of red wine, guzzling more than 155 million 9-liter cases or 1.865 billion bottles that year, according to Vinexpo.
Some 1,300 exhibitors from 31 countries and regions attended the event packed with wine-tasting sessions as well as discussion forums for sommeliers, distributors and importers.
Chinese wine tastings are also a feature this year, along with a bar showcasing innovative cocktails for the first time. French exhibitors make up over 500 booths, organizer says.
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