VERONA, April 10 — French wines are still the most popular among consumers in East Asia, followed by wines from Australia, Chile and Italy.
That’s according to a report published out of Vinitaly, a major wine trade fair taking place in Verona, Italy this week.
Overall, France holds 50 per cent market share for wine imports among countries in Asia — a value estimated at €3.2 billion (RM14.7 billion).
France holds a big lead over its closest rivals Australia (16 per cent), Chile (9 per cent), and Italy (7 per cent).
Imports of Bordeaux and Burgundy alone are estimated to be worth more than €1 billion alone.
The data considers consumption in China, Japan, Hong Kong, South Korea, Vietnam, Singapore, Thailand, Taiwan, Malaysia, Indonesia, Philippines, Maldives, Cambodia, Mongolia, Laos, Macao, East Timor, North Korea, Brunei and Myanmar.
Overall, the import wine market in East Asia is valued at €6.45 billion, not far behind North America where imports are at €6.95 billion.
The report makes note of the fact that the Italian wine market has failed to make significant inroads in Asian countries because Italian winemakers have been too late in recognising the burgeoning market.
“While Italy marches, competitors are running,” the report reads.
“We have to understand that today, in order to stand up against old and new competitors you can no longer march in an uncoordinated manner,” said Veronafiere CEO Giovanni Mantovani in a statement.
“You have to move in one direction and with a brand that can lead the way.
Mantovani also noted that Italian winemakers need to make bigger improvements when it comes to producing premium, higher-quality wines — a major area of growth within the industry.
In Asia, Italian wines are most popular in Japan.
Vinitaly opened April 7 and runs through today. — AFP-Relaxnews
