Myth vs. Realities of SEA’s Wine Market: Ongoing Uncertainties, Key Trends & Uncommon Opportunities for Buyers & Sellers
The Asian wine market is diverse and complicated. With the uncertainty of long-term Covid implications, ongoing uneven recoveries in Asia Pacific and the volatile Chinese wine import market, opportunities for producers and buyers appear more intricate than just five years ago. After an abysmal 2020 with intense declines, alcoholic beverage are expected to gain more than +2% in volume and more than +4% in retail value by the end of 2021 (IWSR Drinks Market). As China’s implementation of anti-dumping policy has just begun, it will take a while longer for its market influence to be reflected. Spirits started to outperform wine in the alcoholic beverage recovery in Asia, as China imports show a year-on-year increase of 11.7% already.
Despite these steep declines, Asia-Pacific still ranks high in the global wine market, with a value share of 26% and accounted for value and volume sales of US$81,948.9 million and 3,589.5 million liters, respectively, in 2020.
To untangle the intricacies in the market, the panel will discuss:
– Will economy brands do better than premium brands now as Covid-19 trapped US$111 billion of luxury spending in China alone?
– What are smart buyer decisions in this current economic climate?
– Has Covid increased consumer loyalty?
– With more vaccines available will the pre-Covid reality return?
– Does Working-from-Home mean same habits but different location?
– Will e-commerce growth slow down or return to pre-covid levels?
– What impact will Asia’s vineyards expansion have on the market development?
Enjoy a discussion between leading wine producers, Master of Wine and trade experts on the SEA markets shifts, pitfalls and novel strategies to bounce back with the emerging trends.
Speaker: Paolo Fassina, Area Manager, Castello di Banfi, North Asia
Speaker: Judy Chan, CEO & Executive Director, Grace Wine Holdings Limited
Speaker: Lulie Halstead, CEO, Wine Intelligence
Speaker: tbc
Moderated by: Robert Joseph, Wine Business Consultant, Editorial Consultant, Meininger’s Wine Business International
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