I MARKET TRENDS I
I MARKET TRENDS I Asia’s growing taste for wine The Daily Vinexpo Asia takes a look at some of the overall trends and tendencies in wine on the Asian market today and into the future © Klara Kulikova / Unsplash 2023 ALCOHOLIC BEVERAGE CONSUMPTION TRENDS IN KOREA Over the past year, Korea has experienced a surge in wine consumption and a resurgence of whiskey, with a younger demographic driving the trend. Join Professor Junghoon Moon of Seoul National University for this exclusive session to explore how the market for these beverages is evolving in Korea and how they are competing with traditional Korean alcoholic beverages such as beer, soju, and makgeolli. As a taste for wine increases in Asia as a whole, premiumisation is favouring imported brands while ecommerce and social networks can play a significant role in which foreign brands gain reach. It is no coincidence that Singapore was chosen as the site for Vinexpo Asia 2023. Not only is it a strategic spot for trade fuelled by a number of free trade agreements, but research from the IWSR for Vinexposium forecasts a compound annual growth rate of 3.8% between 2021 and 2026 for the beverage alcohol industry in Singapore. Singapore is also Asia’s most buoyant region for the premium market at 42% of sales. This is fueled in part by its expansive bar and restaurant scene. China has famously become a giant in the wine industry, showing increased interest in the last few decades and claiming the top spot in the world for red wine consumption for the last ten years. This has been fuelled by the growth of the middle classes and consumer demand, and with 40% of China’s wine being imported according to Horizons, it represents an incredible opportunity for growth for wine makers and sellers. The importance of wine for society as a whole can be illustrated by the Universal Wine Museum set to open in Beijing in May 2024. E-commerce is playing an important role in the sale of wine in China, in combination with platforms such as TikTok and other Chinese social networks. In Japan, fine wines continue to have a strong following. More everyday drinking wines are also growing in popularity, especially among younger consumers. The Japanese are also developing a new cocktail culture and an appetite for ready-to-drink beverages (RTDs) which are growing on a global scale as well. In South Korea, beer and spirits like soju are still the most popular alcoholic beverages. Wine consumption is showing strong growth nevertheless, especially among women and younger generations who are turning to wine as a good value for money option. South Korea’s wine imports are showing outstanding growth, increasing by 69% in value in 2021 according to IWSR- Vinexposium research. In Asia, the market for wines and spirits is expanding with increased demand for high-quality imported products. While most Asian brands in the wine and spirits industry still sell the majority of their volumes domestically, some are looking to expand internationally in the face of increasing competition from international brands, especially in the case of premiumisation. Tommy Keeling, Research Director at IWSR, explained this phenomenon, “As Asian populations grow richer, consumers are trading up to imported drinks brands and the position of local champions suddenly looks less secure, so many are looking to diversify abroad” The session will also dive into the concept of food pairing, which is gaining popularity in Korean culture. Discover what kinds of food pairings are emerging with wine and whiskey and how they are influencing the market. Don’t miss this opportunity to gain valuable insights into the Korean wine and whiskey market. This conference session will take place in Room 3 on Tuesday, 23 May 2023, when its expert speakers will share their insights on the opportunities and threats in this market. Be sure to mark your calendars CONFERENCE Tuesday, 23 May 2023 10:30 am - 11:00 am 2023 Alcoholic Beverage Consumption Trends in Korea Room 3 - Conferences 8 • THE DAILY • TUESDAY 16 TH MAY 2023 vinexpoasia.com
I GLOBAL OVERVIEW I A new label for Moulin du Château La Lagune The renowned wine estate is showcasing the new visual identity of its Moulin du Château La Lagune at Vinexpo Asia 2023. The new label celebrates a new chapter in the estate’s history, honoring their years of commitment to regenerative viticulture and excellence. Owner and oenologist Caroline Frey strongly believes that respecting the vineyard and all of its surrounding ecosystems is the way to make greater wines. All of Château La Lagune’s vineyards are certified Organic and Biodynamic. Caroline asked her sister, Delphine, to completely rethink the identity of Moulin du Château La Lagune for the label. She wanted to communicate her strong relationship to nature, with a softer and more feminine tone. The new label expresses Delphine’s imagination as well as Caroline’s story and convictions. It is a metaphor for the alchemy between animal, vegetable and mineral that gives soul and depth to Moulin du Château La Lagune, vintage after vintage. The monochrome blue is meant to represent imagination and union, replacing the classic black label. The hand-drawn illustration showcases the diversity of Château La Lagune’s ecosystem and the winery’s commitment to biodiversity. Discover the wine and its new label on the Domaines Paul Jaboulet Aîné booth at Vinexpo Asia Level B2 / Stand B 008 Discovering the Art of Winemaking with MON-MA by Jean-Claude Mas Domaines Paul Mas is presenting its MON/MA by Jean-Claude Mas range at this year’s Vinexpo Asia. The range, which stands out visually thanks to its unique label design focussing on vintage cars as well as a one-of-a-kind, technically complex bottle design, is set to appeal to the Asian market. The unique Gothic Flute bottle’s natural theme and artistic signature perfectly embody Founder and Executive Manager Jean- Claude Mas’ vision of merging wine with art. The vessel’s abundant nature and beauty make it one-of-a-kind, and its technical complexity adds to its originality. Jean-Claude Mas’ MON/MA range consists of blends and single varietal wines made from traditional and noble grape varieties like Grenache and Viognier, which are an integral part of the Domaines Paul Mas story. These grapes thrive in the Languedoc region’s terroir and produce fruity, easy-to-drink, pleasant wines that express their full potential. For Jean-Claude Mas, this range is linked to his childhood when he dreamed of becoming a race car driver before becoming a winemaker, and to his longstanding love of vintage cars. MON/MA range by Jean Claude Mas wines are approachable, moreish, and offer great value for money. They are a must-try for anyone looking to explore the unique flavors of southern France’s Languedoc region Level B2 / Stand F 062 THE DAILY • TUESDAY 16 TH MAY 2023 • 9
