The wine market in Japan will increase its share by 30% by 2026
According to GlobalData forecasts, by 2026 the rebirth of on-premise consumption will make reach to the wine market in Japan a value of 10 billion dollars.
Despite the pandemic still pushes to a certain prudence and economic caution stimulates the consumption of wine at home, in Japan the demand for wine in the premises is recovering, thanks above all to the reopening of premises, restaurants, parties and cultural and sporting events.
According to data analyzed by GlobalData – leading company in the market analysis sector – the Japanese wine market will grow from 760.7 billion JPY (6.9 billion dollars) in 2021 to 990.5 billion JPY (10.2 billion dollars) by 2026, recording a growth rate of 5.4%.
The liqueur wines and the oldest population will drive the wine market in Japan
The growth of the market will be mainly driven by the category of liqueur wines, which should record the highest growth rate: 7.1% in the period 2021-2026.
The wine will be still with a growth rate of 5.5% and the sparkling sector with a growth rate of 4.9%.
The elderly, thanks to their higher purchasing power, will drive sales. Although young people tend to consume wine as an alternative to alcohol and beer during socialization, business meetings and holidays.
What are the most performing channels of the Japanese wine market?
For 2021, in the Japanese wine market, the specialists in food and beverages were the main distribution channel, followed by the GDO.
Japanese buyers are attentive consumers and prefer to buy from experienced staff who can provide more information, especially for natural, certified organic and biodynamic wines.
The trends in the wine market in Japan
In line with the increase in “monopersonal” families, the Japanese wine market is rewarding the monodose packaging: single-porization glass, canned wines, half-way wine bottles or a quarter...
At this time, we also notice a discrepancy in consumer habits, with an increase in demand both of premium Champagne, and of sparkling wines at affordable prices.
In the coming years the Japanese wine market will certainly be an interesting market for Italian wine producers!