Market Size of Asia-Pacific Wine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.85 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Wine Market Analysis
Asia-Pacific Wine Market is projected to register a CAGR of 6.85% during the forecast period, 2022-2027.
The increasing disposable income and rapid urbanization and a rise in marketing and promotional activities are driving the growth of the wine market in the Asia-Pacific region. With the changing lifestyle of consumers and consumption of wine on social occasions and during celebrations has become very popular and has become a status symbol which is another prime factor in the growth of the wine market.
France and Spain have traditionally been the world's top wine exporters. But countries in the Asia-Pacific regions such as China, Japan, and India have all started producing and selling their own wines which are boosting the wine market in the region. Moreover, wine is gaining equal appeal among men and women, especially in countries such as China and Japan. According to Alibaba Group's flagship cross-border e-commerce platform, Koala, in 2021, China's female wine drinkers prefer fruit-flavored liquors, wines, cocktails, and sake that are typically lower in alcohol content, have fruity aromas, and feature attractive packaging.
Over the medium term, changing tastes and new preferences among consumers and increasing demand for new and exotic flavors, such as Riesling wine and other tropical fruit wines, are expected to fuel the growth of the wine market. Also, the new innovative packaging is boosting the demand for the market.
APAC Wine Industry Segmentation
Wine is an alcoholic drink typically made from fermented grape juice. The wine market is segmented by product type, color, distribution channel, and geography. The Asia-Pacific wine market is segmented by product type into still wine, sparkling wine, Fortified Wine and Vermouth). The market is segmented by color into red wine, rose wine, and white wine. Based on the distribution channel, the market is classified as on-trade and off-trade channels, of which the off-trade channel is further classified into supermarkets/hypermarkets, specialty stores, online retail channels, and other distribution channels. In terms of Geography, the market is segmented into China, Japan, India, Australia, and the rest of the Asia-Pacific region. For each segment, the market sizing and forecasting have been done in value terms of USD million.
| By Product Type | |
| Still Wine | |
| Sparkling Wine | |
| Fortified Wine and Vermouth | |
| Others |
| By Colour | |
| Red Wine | |
| Rose Wine | |
| White Wine |
| By Distibution Channel | |
| On-Trade | |
| Off-Trade |
| By Geography | |
| China | |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Wine Market Size Summary
The Asia-Pacific wine market is experiencing significant growth, driven by factors such as increasing disposable income, rapid urbanization, and a rise in marketing and promotional activities. The changing lifestyle of consumers, where wine consumption is becoming popular during social occasions and celebrations, is contributing to its status as a symbol of prestige. Traditional wine-exporting countries like France and Spain are facing competition from emerging wine-producing nations in the region, including China, Japan, and India. These countries are not only producing but also selling their own wines, which is enhancing the market's expansion. The appeal of wine is growing among both men and women, particularly in China and Japan, where preferences for fruit-flavored and lower-alcohol wines are on the rise. The demand for new and exotic flavors, along with innovative packaging, is further propelling the market's growth.
The Asia-Pacific wine market is characterized by a fragmented landscape with numerous international and regional players. Key companies such as Yantai Changyu Pioneer Wine Co Ltd, The Wine Group LLC, and Accolade Wines are actively innovating in flavors and expanding their distribution networks. The market is also witnessing a trend towards premiumization, with health benefits associated with wine consumption, particularly red wine, driving its popularity. China holds the largest market share in the region, with a high demand for imported wines and a growing community group buying trend. The market's growth is supported by strategic partnerships and expansions, as seen with companies like Juvé Camps and Mercian Corporation, which are focusing on enhancing their presence in key markets such as Greater China and South Korea.
Asia-Pacific Wine Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Force Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Product Type
-
2.1.1 Still Wine
-
2.1.2 Sparkling Wine
-
2.1.3 Fortified Wine and Vermouth
-
2.1.4 Others
-
-
2.2 By Colour
-
2.2.1 Red Wine
-
2.2.2 Rose Wine
-
2.2.3 White Wine
-
-
2.3 By Distibution Channel
-
2.3.1 On-Trade
-
2.3.2 Off-Trade
-
-
2.4 By Geography
-
2.4.1 China
-
2.4.2 Japan
-
2.4.3 India
-
2.4.4 Australia
-
2.4.5 Rest of Asia-Pacific
-
-
Asia-Pacific Wine Market Size FAQs
What is the current Asia-Pacific Wine Market size?
The Asia-Pacific Wine Market is projected to register a CAGR of 6.85% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Wine Market?
Yantai Changyu Pioneer Wine Co Ltd, The Wine Group LLC, Accolade Wines, Yantai Weilong Grape Wine Co., Ltd. and Constellation Brands, Inc are the major companies operating in the Asia-Pacific Wine Market.
