Asian Wine Market: Trends in 2024

Interview with Giovanni Brumat, Brand Ambassador - Vigneti Le Monde

How Did the Asian Market Perform in 2024?

In 2024, the Asian wine market performed exceptionally well for us at Vigneti Le Monde. We are active in multiple markets, with our strongest presence in Japan, China, Singapore, Vietnam, Thailand, and South Korea.

However, according to Eurostat data on EU wine exports, some of these key markets saw declines of 10-20% compared to the previous year.

Challenges Affecting the Asian Wine Market

Several well-known factors continue to impact the global wine industry, including:

• Post-pandemic effects on consumer behavior
• Cultural preferences and evolving consumption habits
• Economic and political pressures affecting purchasing power
• Growing competition both within and outside the sector
• Taxation policies impacting import costs

These challenges have shaped the wine market worldwide in recent years, and wineries must now navigate them daily.

Strategies for Success in the Asian Market

Despite these obstacles, wineries can strengthen their presence in Asia by adopting key strategies:

• Targeted marketing efforts at corporate, consortium, regional, and national levels
• Adapting to local tastes and preferences
• Building strategic partnerships to enhance distribution
• Deep market analysis to anticipate trends
• Flexibility and adaptability to quickly respond to market shifts

By implementing these adaptive strategies, wineries can overcome market fluctuations and ensure sustainable growth in the Asian wine market.

Forecasts for the Asian Wine Market in 2025

The 2025 outlook for the Asian wine market appears promising, with broad-based growth expected across several countries:

• South Korea: A strong recovery driven by increasing demand.
• Thailand: New favorable tariffs are boosting wine imports.
• Singapore & Vietnam: Steady growth is anticipated in these well-established markets.
• Malaysia: Emerging as a promising new market with rising demand.
• China & Japan: Showing signs of improvement despite recent economic challenges.

The overall market trend suggests progressive expansion in 2025, supported by economic recovery and policy adjustments in key regions.

How Important is the Asian Market in Your Total Exports?

The Asian market accounts for approximately 20% of our total exports at Vigneti Le Monde.

Top Established Markets and Best-Selling Wine Varieties

Our most established market remains Japan, where we have been present for many years. Here, our white wines dominate sales, particularly Pinot Grigio, Pinot Bianco, and Sauvignon, while Cabernet Franc also holds a strong position among red wines. Japan is a highly traditional yet rewarding market, and with the right strategy, it can offer great opportunities, even for wines positioned in different price segments.

Another key market for us is Singapore, where we have been achieving excellent results for years. This dynamic market allows us to successfully offer wines across different price ranges, making it a crucial hub for our export growth in Asia.