ProWine Asia

Asia’s Affluent Millennials - Wine Lovers of Tomorrow

20-October-2016

The fast-evolving markets of China and Asia have interweaved luxuries into the minds and taste-buds of a new generation of affluent connoisseur. These affluent millennials have taken a growing interest in liquid luxuries, eager to explore, learn, and consume.

Global attention has recently shifted to Asia. While consumption figures have been less than inspiring across many parts of Europe, Asia’s demand remains strong. A whopping US$64 billion in wine sales was shown by the latest figures from Euromonitor International, forecasting additional yearly growth of 7.4% and 5.3% in value and volume respectively between 2015 and 2020.

Evolving markets lead to new product trends, as New World wines gains significant market share, as we see a growing trend of high quality and increasingly ‘user-friendly’ wines from the United States, South America, Australia, New Zealand, and South Africa. These products are labelled in English with bottle designs (and price tags) targeting the novice tasters and younger consumers – quickly becoming the wine lovers of tomorrow and a growing opportunity for suppliers.

 


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