Asia-Pacific Wine Market Outlook, 2028

Asia-Pacific Wine Market Outlook, 2028

The Asia Pacific wine market is a tapestry woven with threads of history, heritage, and a deep appreciation for the land. It is a place where ancient winemaking traditions coexist with the pursuit of excellence and innovation. Indulge in the authenticity of the Asia Pacific wine market, where passion and tradition come together in every bottle. China, in particular, has witnessed a remarkable surge in wine consumption, making it one of the largest wine markets in the world. This growth is attributed to factors such as rising disposable incomes, urbanization, and changing consumer preferences. While the Asia Pacific region has historically been known as a major wine importer, there has been a notable increase in domestic wine production. Countries like China, Japan, India, and South Korea have been investing in vineyard expansion and modern winemaking techniques, leading to a rise in the production of high-quality wines within the region. With the increasing affluence in the region, there has been a rise in the demand for premium and luxury wines. Consumers are willing to explore higher-priced wines and are seeking unique and exclusive offerings. This trend has led to the growth of premium wine segments and the emergence of luxury wine brands catering to the discerning tastes of affluent consumers.

According to the research report, “Asia-Pacific Wine Market Outlook, 2028” published by Bonafide Research, the market is expected to grow with 6.60% CAGR by 2023-28. The Asia Pacific wine market boasts a diverse range of indigenous grape varieties that contribute to its distinct character. For Instance, China has the native grape variety called Koshu in Japan, Marselan in China, and Asai in India. These local grape varieties offer unique flavors and aromas, reflecting the terroir and cultural heritage of the region. The Asia Pacific region has witnessed a surge in wine tourism as more travelers explore the picturesque vineyards and wineries. Destinations such as Australia's Barossa Valley, New Zealand's Marlborough region, and China's Ningxia have become popular attractions for wine enthusiasts seeking immersive experiences, including vineyard tours, tastings, and food and wine pairing events. As the interest in wine grows, so does the demand for wine education and appreciation. The Asia Pacific region has seen a rise in wine schools, sommelier courses, and wine-related events. Consumers are eager to learn about wine production, grape varieties, and wine pairing, fostering a deeper understanding and appreciation for the intricacies of wine. The Asia Pacific wine market has embraced the digital age, with a significant increase in online wine sales. E-commerce platforms and wine delivery services have made it easier for consumers to access a wide range of wines from around the world. This trend has further expanded the options available to wine enthusiasts, allowing them to explore and purchase wines conveniently. In addition, Wine and food pairing is an integral part of the Asia Pacific wine market. Countries like Japan and China have a long-standing culinary culture that emphasizes harmonious pairings. Local cuisines, such as Japanese sushi or Chinese dim sum, have inspired unique wine pairing experiences, creating a market that appreciates the synergy between food and wine.

The Asia Pacific wine market has become an attractive destination for wine investors. Collectors and investors in the region have shown a growing interest in wine as an alternative investment asset class. Fine wines from renowned regions such as Bordeaux, Burgundy, and Napa Valley have gained popularity among investors seeking long-term value appreciation and diversification. Several governments in the Asia Pacific region have recognized the potential of the wine industry and have implemented supportive policies and initiatives to promote its growth. For instance, the Australian government has invested in marketing campaigns to raise the international profile of Australian wines, while the Chinese government has designated certain regions as wine zones to encourage wine production and tourism. Penfolds is an iconic Australian wine brand known for its exceptional red wines, particularly its flagship wine, Penfolds Grange. With a history dating back to 1844, Penfolds produces a wide range of premium wines from various Australian wine regions, including Barossa Valley, Coonawarra, and Adelaide Hills. Jacob's Creek is another well-known Australian wine brand that offers a diverse portfolio of wines, including Shiraz, Chardonnay, and Riesling. It is recognized for its consistent quality and accessibility, making it a popular choice among wine enthusiasts worldwide. In addition, Cloudy Bay is a renowned New Zealand wine brand that played a significant role in establishing Marlborough as a premier Sauvignon Blanc region. It is celebrated for producing vibrant and expressive wines, including its flagship Sauvignon Blanc, as well as Chardonnay and Pinot Noir. Vinexpo Hong Kong is one of the most significant wine trade exhibitions in Asia. It showcases a wide range of wines, spirits, and related products from various regions worldwide. The event brings together industry professionals, including producers, distributors, and buyers, to network, explore new releases, and engage in business transactions. Also, organized by the Hong Kong Trade Development Council, the Hong Kong International Wine & Spirits Fair is an annual event that features a comprehensive selection of wines, spirits, and related products. The fair includes tastings, seminars, masterclasses, and networking opportunities for industry professionals and wine enthusiasts. In addition, ProWine Asia is a leading trade fair for wines and spirits in the Asia Pacific region. It takes place in different cities, including Hong Kong, Singapore, and Shanghai, attracting exhibitors and visitors from around the world. The event provides a platform for networking, showcasing products, and discovering industry trends.

The Asia Pacific wine market has seen unique cross-cultural blending practices, where winemakers combine grape varieties from different regions to create distinctive and innovative wines. For instance, Australian winemakers have experimented with blending Shiraz with Chinese grape varieties, resulting in unique wine styles that blend the characteristics of both regions. The Asia Pacific wine market offers export opportunities for winemakers from both within the region and internationally. Countries like Australia and New Zealand have successfully tapped into the export market, with their wines gaining recognition and popularity worldwide. China has also become a major player in the importation of wines, creating opportunities for wine producers from various regions to enter the Chinese market. Winemakers in the Asia Pacific region have increasingly sought collaborations and partnerships with international producers, sharing expertise and knowledge. This collaboration allows for the exchange of winemaking techniques, blending traditions, and marketing strategies, ultimately enhancing the quality and diversity of wines available in the market.

Considered in this report

• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia Pacific Wine Market with its value and forecast along with its segments
• Country-wise Personal Protective Equipment market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Product type

• Still Wine
• Sparkling Wine

By Color

• Red Wine
• White Wine
• Rose Wine
• Others

By Sweetness Level

• Semi-Sweet
• Dry
• Sweet
• Semi-Dry

By Distribution Channel

• On Trade
• Off Trade

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to wine industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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