Asia, including North East Asia, South East Asia and other Asian countries, comprises nearly 50 different markets according to the United Nations, with a range of distinct cultural, religious and social practices. Go straight to report listing
Wine consumption across the Asian continent on average represents just over a fifth of the global volume consumed - slightly higher than the Americas but significantly smaller than Europe.
In 2020, around a fifth of Australia’s export volume was shipped to Asia. Asian markets that performed particularly well for Australian wine exports in 2020 were South Korea, Taiwan, Hong Kong and Malaysia.
From a market attractiveness perspective, Wine Intelligence (Global Compass 2020) has identified South Korea as a top performer, having moved from 10th position to 2nd place in one year. Several other markets in Asia were identified as ‘major movers’: the Philippines, Indonesia, Thailand, Malaysia and Vietnam – as a result of continued positive economic outlook as well as positive forecasts in long-term wine market volumes.
All wine exports to Singapore and Hong Kong are tariff-free. Free trade agreements are in place for South Korea, Japan, Malaysia, Thailand, Philippines, and Vietnam, allowing more favourable conditions for Australian exporters.
Research commissioned by Wine Australia on global brand health tracking found that all the Asian markets included in the study - Hong Kong, South Korea, Singapore and Japan – have positive associations with Australian wine especially around ‘wines that offer good value for money’, ‘food friendly wines’ and wine they would be happy to recommend. Quality perceptions have also improved for nearly all of these in the long term.
While China also performed strongly from a market attractiveness perspective, the tariffs imposed on Australian wine exports since November 2020 have led to increased uncertainty for businesses.
Another potential future market for Australian wine in Asia is India, which is classified by Wine Intelligence as new emerging – where wine is a relatively new and unknown beverage but showing potential. However, all countries currently face a 150 per import tariff on wine exported to India, which is a significant deterrent for consumers.
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