Nomisma Wine Monitor: positioning and prospects of Italian fine wines in the Far East

The normal end-of-year occasion that Istituto Grandi Marchi commits to thorough analysis of the #finewines scenario on global markets happened in Rome on Wednesday 13 December. After the research study committed to Germany, the UK market after Brexit and the international scenario in the post pandemic, Japan and South Korea were the lead character nations of the 2023 report. The Observatory, as constantly modified by Nomisma White wine Screen, was set the goal of comparing 2 of the most fascinating markets in the Far East to comprehend, in the great red wines section, the getting and intake behaviour, the understanding, the function played by the prestige of the brand name and the areas and, in complex, the patterns that distinguish and unify these 2 markets.

” Our cooperation with Nomisma White wine Screen continues– highlighted Piero Mastroberardino, IGM President– focused on examining the characteristics of the great red wines section on global markets. The option of Japan and South Korea is not random, considered that these nations will be the scene of our objective arranged for next November. The examination exposed a more than appealing image, showing the growing appeal that quality Italian red wine likewise enjoys in the Far East. From this viewpoint, we at Istituto Grandi Marchi have constantly located ourselves as ambassadors of Made in Italy red wine quality, with the objective of making custom, territoriality and the set of ethical worths that make up the worth available to all customers. of our labels.”

The study was established on a sample of 1,600 red wine customers, living in a few of the big Japanese and Korean cities (Tokyo, Osaka, Seoul and Busan) in the duration October-November 2023.

The international introduction of red wine intake in the Asian continent highlights South Korea as an emerging market, offered the boost of +168% in intake and +200% in imports in the last 5 years. As relates to Japan, we can mention a combined market offered the intake, which has actually been nearly steady for many years, of 3 million hectoliters and a minor drop in import numbers (-3%) supported nevertheless by a typical boost in the worth of the labels by +47%.

The very first proof from the Observatory issues intake behaviours: greatest occurrence in Japan (45% of the population typically takes in red wine) with a widespread target of the over 50s (Gen X and Infant Boomers); a little lower in South Korea (39%) where Gen Z represent more than Infant Boomers (18% versus 16%). Rate is the primary purchase motorist, however likewise the area of origin (for 34% of Japanese customers) and the worth of the brand name (for 19% of Koreans) make the distinction throughout the purchase and make up the primary criteria to recognize a high quality red wine.

Another essential reality that emerged from the study worries the function of Italian dining establishments to be thought about as one of the primary levers for interaction and diffusion of great red wines: in reality, customers in both nations think about tastings and reveal cooking to be fascinating minutes for thorough research study, in addition to among the most demanded customer items. Relating to product packaging, in both nations specific attention is paid to information and territorial recommendations on the label and in Japan there is a fantastic gratitude for cork stoppers which do not represent a concern for South Korea.

Having actually traced the present image of the understandings and habits of customers in the Far East, the last area of the Nomisma Observatory worried the projections and future potential customers which, to name a few things, are favorable for Italian great red wines.

” Regardless of the management held by France with 58% of red wine imports in Japan and 35% in South Korea” highlighted Denis Pantini, Head of Nomisma Red Wine Screen, “21% of Japanese customers anticipate to increase in the next 3 years– the intake of Italian great red wines (compared to 7% who rather anticipate to minimize them). In South Korea the potential customers are even brighter, with nearly one in 2 customers considering increasing their purchases, compared to 17% of those who think of decreasing them and 9% who will not alter their routine”.