Inside the Asian Wine Market with Agnese Barbanera

To better understand the current and future trends of the Asian Wine Market, we spoke with Agnese Barbanera from Barbanera Wines and  Italian Wine Brands. She shared insights on market trends, challenges, and opportunities for growth in the region.

Interview with Agnese Barbanera

How did the Asian Wine Market perform in 2024 ?

The Asian Wine Market has experienced mixed trends throughout 2024. While some countries have shown moderate or marginal growth, others have faced declining wine consumption due to economic difficulties and logistical delays caused by the Red Sea crisis. However, towards the end of the fourth quarter, signs of recovery emerged, suggesting a potential future recovery.

What are the forecasts for 2025 ?

The recovery seen in the fourth quarter of 2024 gives a glimpse of positive prospects for widespread growth in Asia in 2025. South Korea stands out for its significant recovery, while in Thailand new preferential tariffs stimulate imports.

Steady growth is expected in established markets like Singapore and Vietnam, with promising results in emerging markets such as Malaysia. China and Japan also show signs of improvement despite recent economic crises

In terms of growth or exceptional performance, which markets have been the most interesting, and why ?

The most interesting markets turned out to be Singapore, Taiwan, and Vietnam, which stand out for being open to innovative products, challenging the traditional focus on classic wines. Hong Kong and South Korea, on the other hand, show a growing preference for premium wines, reflecting more sophisticated consumer tastes.

In China, the interest in foreign white wines is increasing, along with the traditional baijiu, and reflecting a cultural shift that integrates international elements without losing its local roots.

Which markets are the most established ? What types of products are their favorites ?

China and Japan represent the most consolidated markets, with a strong demand for sparkling wines and wines from Puglia and Tuscany. Local consumers tend to prefer complex, soft, fruity red wines with high alcohol content.

Which are the most profitable markets in terms of margins?

Singapore and Hong Kong are the most profitable markets in terms of margins, thanks to their demand for premium wines with unique and distinctive characteristics. Local consumers are attracted to products with strong identities, so they are willing to invest in high-quality wines.

Which markets are the most gourmet-oriented?

In the Ho.Re.Ca. sector, Singapore and Japan stand out as markets of excellence thanks to their refined gastronomic culture and attention to high-quality wine pairings. In terms of innovation, Japan, Singapore, Vietnam, and Taiwan are particularly receptive to unique and unconventional wines, able to break from tradition and to offer more peculiar tasting experiences, aligning with the expectations of more curious consumers.  

What is the amount of energy and promotion you invest in this market?

We invest significantly in the Asian market, making an average of 10 business trips per year, participating in trade fairs, customer tastings, and organizing masterclasses to educate both staff and consumers. Additionally, we provide constant marketing support to local partners, strengthening our products presence and developing tailored promotional strategies for each market.