Wine - Asia | Statista Market Forecast

Wine - Asia

Asia

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Wine market amounts to US$24.1bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$28.9bn in 2024.
Revenue, combined amounts to US$53.0bn in 2024.
The revenue, at home is expected to grow annually by 2.94% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$40bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$5.31 are generated in 2024.
In the Wine market, volume, at home is expected to amount to 2.1bn L by 2024.
Volume, out-of-home is expected to amount to 1.1bn L in 2024.
Volume, combined is expected to amount to 3.2bn L in 2024.
The Wine market is expected to show a volume growth, at home of 0.1% in 2025.0.
The average volume per person, at home in the Wine market is expected to amount to 0.47L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wine market in Asia has been experiencing significant growth in recent years, driven by changing consumer preferences and local special circumstances. Customer preferences in the Asian wine market have been shifting towards higher quality and premium wines. As the middle class continues to grow in many Asian countries, consumers are becoming more sophisticated and willing to spend more on luxury goods, including wine. This trend is particularly evident in China, where the demand for imported wines has been steadily increasing. Chinese consumers are increasingly seeking out prestigious wine brands from renowned wine regions such as Bordeaux and Burgundy. In addition, there is a growing interest in organic and biodynamic wines, as Asian consumers become more health-conscious and environmentally aware. Trends in the Asian wine market vary from country to country. In China, for example, the consumption of red wine has been on the rise, driven by cultural beliefs that red wine is good for health and prosperity. The younger generation in China is also more open to trying different types of wines, including sparkling wines and rosés. In Japan, on the other hand, there is a strong preference for sake and other traditional alcoholic beverages. However, there is a growing interest in wine among younger Japanese consumers, who are increasingly embracing Western culture and lifestyle. Local special circumstances also play a role in the development of the wine market in Asia. In some countries, such as India and Indonesia, there are cultural and religious factors that limit the consumption of alcoholic beverages, including wine. However, in countries like Singapore and Hong Kong, where there is a significant expatriate population and a strong Western influence, the wine market is more developed and diverse. These cities are also important regional hubs for the wine trade, attracting wine enthusiasts and connoisseurs from all over Asia. Underlying macroeconomic factors have also contributed to the growth of the wine market in Asia. Economic growth and rising incomes have led to an increase in disposable income, allowing consumers to spend more on luxury goods like wine. In addition, globalization and international trade have made it easier for Asian consumers to access a wide variety of wines from different countries and regions. The reduction of trade barriers and the signing of free trade agreements have also facilitated the importation of wines into Asia, making it more affordable and accessible to consumers. Overall, the wine market in Asia is experiencing a period of growth and transformation, driven by changing consumer preferences, local special circumstances, and underlying macroeconomic factors. As Asian consumers become more sophisticated and willing to explore different types of wines, the market is expected to continue to expand in the coming years.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.