Asia, including North East Asia, South East Asia and other Asian countries, comprises nearly 30 different markets, with a range of distinct cultural, religious and social practices. In general, these markets are characterised by increasing wealth and disposable income.
Asia – the new global frontier for wine exports
Asia, including North East Asia, South East Asia and other Asian countries, comprises nearly 30 different markets, with a range of distinct cultural, religious and social practices. In general, these markets are characterised by increasing wealth and disposable income. While 50 per cent of the population of Asia and the Pacific was classified as living in extreme poverty in 1990, this proportion had decreased to 15 per cent by 2012, which is below the global average, according to the United Nations Economic and Social Commission for Asia and the Pacific (2015).
In terms of wine, Wine Intelligence (2017) classifies almost all Asian markets as “new emerging” – where wine is a relatively new and unknown product but showing potential. Japan, Singapore and South Korea are classified as “growth” – where wine is becoming a mainstream product and consumption is increasing. Japan is the world’s sixth largest importer of wine.
Per capita consumption of wine in Asian countries is very low – the highest being South Korea and Japan at 7.7 and 7.0 litres per capita respectively, followed by Hong Kong and mainland China at 4.6 and 3.3 litres per capita. (Australia’s per capita consumption is 23.9 while the highest in the world is Portugal with 45.7 litres per capita.)
Excluding mainland China, Hong Kong and Taiwan, which together accounted for over 80 per cent of Australia’s wine exports to Asia in 2017, the largest Asian markets for our wine are Singapore, Malaysia and Japan. Free Trade Agreements with Japan and South Korea have underpinned recent growth and provide opportunities for future increases in trade.
Image source: Adobe Stock
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