portugal story image 1 180x180 - Younger LDA drinkers dominate premium wine opportunity in emerging and growth markets, reflecting market dynamics

 

Younger 2 LDA Drinkers dominate premium wine opps in growth markets 1030x580 - Younger LDA drinkers dominate premium wine opportunity in emerging and growth markets, reflecting market dynamics

 

Whilst 1/3rd of premium drinkers in more established markets (US and UK) are aged 55+, younger LDA drinkers dominate the premium wine opportunity in growth markets, such as Brazil and South Korea, and in emerging wine markets, such as China. 

In Brazil, long-term increases in average spend points towards premiumisation within the wine category. Since 2017, there has been a small but sustained increase in recalled average spend per bottle for off-trade occasions amongst Brazilian regular wine drinkers. More recently through Covid restrictions, consumers appear willing to spend more money on quality bottles of wine. This is particularly the case for at home occasions due to the restrictions in the on-trade.

The number of monthly wine drinkers in Brazil increased in 2021, owing to an increasing proportion of the Brazilian adult population entering the wine market. “These consumers are typically between 30-40 years old and are increasingly drinking for occasions at home with friends,” notes Juan Park, Client Manager, Wine Intelligence.

In South Korea, a big shift in the wine landscape has been the government’s relaxation of the laws surrounding the purchase of alcohol online. Having only been introduced in mid-2020 to South Korea, one in five South Korean wine drinkers now buy wine online.

“The combination of a disrupted on-trade, and more opportunities to buy wine using an app, appear to be provoking a re-evaluation of the role of wine within South Korean society, especially among the educated urban younger drinkers,” notes Lulie Halstead, CEO, Wine Intelligence.

South Korean consumers are increasingly knowledgeable about wine, driven by both Gen Z and Millennial wine drinkers who feel more confident engaging with wine when compared with older wine involved drinkers. This is a trend seen in other East Asian wine markets such as in Japan, where drinkers aged between 20-34 are also more wine knowledgeable and wine involved than older drinkers.

You may also be interested in reading:

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply