Asia Pacific is the second largest market for wine consumption in volume terms, driven primarily by China, Japan and South Korea. The region offers significant potential due to its large customer base, rising disposable incomes and favourable climatic conditions for wine cultivation, especially in China. On the back of premiumisation, especially in non-grape wine – the largest category in volume terms – the region will experience higher value growth than volume growth over the period 2018-2023.
This report comes in PPT.
Non-grape wine is the leading category in all major markets of Asia Pacific. Manufacturers in China, Japan and South Korea – the three biggest markets – are focusing on offering high-end rice wine targeting millennials. Companies are marketing their products to attract millennials by packaging the product in attractive bottles, adding a sweeter flavour and reducing the alcohol content.
Wine is popular among female consumers, with wine-drinking considered to convey high social status and a sophisticated lifestyle. The growing number of women in the workforce and hence increased discretionary spending are contributing to rising demand for premium wine. Premium wine is increasingly being consumed on a daily basis. The globalising business culture in Asia Pacific, shifting towards a female-inclusive, more gender-equal workforce, is expected to contribute to wine consumption.
Supermarkets and hypermarkets are the leading outlets for grocery shopping in Asia Pacific. Women are typically more comfortable shopping for wine in these outlets than in food/drink/tobacco specialists. Furthermore, premium grocery stores provide an experience-based purchasing process. They also act as a one-stop-shop for wine consumers because they sell multiple varieties of cheese, with which wine is often consumed.
Growing demand for wine in Asia Pacific is attributable to increasing urban affluence and the prevalence of wine in business culture. In particular, red wine is expected to spur growth, as it is perceived to be beneficial to health. The Chinese association of the colour red with power, wealth and good fortune will also contribute to stronger sales.
This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).
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