DP14389 Asia's emergence in global beverage markets: The rise of wine
|Publication Date:||February 2020|
|Keyword(s):||beverage market projections, Changes in beverage tastes, impacts of tax and trade policies, premiumization of alcohol consumption|
|JEL(s):||F14, F17, L66, Q13|
|Programme Areas:||International Trade and Regional Economics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=14389|
Asia's alcohol consumption, and its retail expenditure on each of beer, distilled spirits and grape wine, have more than doubled so far this century. In the process, the mix of beverages in Asia's consumption of alcohol has been converging on that of the west as wine's share rises. Since Asia's beverage production has not kept up with its expansion in demand, imports net of exports are increasingly filling the gap - especially for wine. This paper analyses trends in consumption and imports for the region and key Asian countries, and provides projections to 2025 using a new model of global beverage markets.