Big potential for premium wine products in Asia
12 Apr 2018 - by
Growing demand for premium wine products in Asia is creating significant opportunity for South African exporters, according to Bernard van Tonder, KWV international sales executive.
“Across the Asian regions the premium sector is growing. You often hear words like higher quality and strong heritage,” he said. “These are words that are easily associated with South African wine producers.”
Van Tonder said another developing trend was the rising health consciousness amongst consumers.
“We are seeing a merging of preferences taking place,” he said. A study in 2017 showed that 81% of consumers in Asia were likely to spend more on luxury items and 91% would focus on their health.
“Asian consumers are focusing on healthier lifestyles and at least 66% are saying they are prepared to pay more for products that do not contain undesirable ingredients.”
According to Van Tonder the rise in health consciousness paired with the move towards premiumisation offered brands the opportunity to capitalise on health and wealth trends.
“The dominator in this trend is China,” he said.