SINGAPORE - Wine is becoming a big business in Asia with the market set to grow 20 per cent from 2003-2008.
And nowhere was it more apparent than in Singapore, where 400 wine producers and retailers set up shop at a three-day wine trade fair that ended at the weekend.
Organisers said the number of exhibitors was four times higher than in 2003 - a sign that the global wine industry recognised Asia's growth potential.
Industry experts say more Asians are likely to choose wine over traditionally more popular beer and whisky because wine is cheaper, there is more choice and the population is increasingly exposed to Western culture.
And some are making their own.
Indian wine company Champagne Indage exports to countries including the United States, the United Kingdom, Switzerland, Germany, Japan and Singapore.
A Champagne Indage spokesman said wine had a narrow niche market in India because many considered it a luxury only the rich could afford.
The picture was different in Singapore, where wine imports jumped 23 per cent to 15 million litres last year, from 12.2 million litres.
- AP
