Portuguese wine is booming in Asia, with Japan and South Korea emerging as strategic markets. wine According to industry publications, its pricing is at the high end this Beverage business.
Adrian Bridge, chief executive of Portuguese wine distributor Fladgate Partnership, said that while trade figures showed both markets were a tiny fraction of the value last year, consumers in both countries appeared willing to pay more for quality wine than most.
Bridge tells Beverage business South Korea and Japan have both shown strong interest in Alvarinho, a white wine made from grapes from northern Portugal, and he noted that the premium prices available in East Asian countries meant his company was now “leaning towards selling in those markets”.
[See more: Portuguese wine exports to China show a major spike]
South Koreans also ranked among the top 10 countries of origin of visitors to the Fradegate tourist centre of Porto, Portugal’s second largest city, further indicating South Koreans’ growing interest in wine.
In 2023, Portuguese wine exports Portugal imported 928 million euros (8 billion patacas) of wine, with a volume of 319 million liters, at an average price of 2.90 euros per liter. South Korea imported only 623,000 liters, at an average price of 7.02 euros per liter. Japan, with a population more than twice that of South Korea, imported 1.8 million liters of Portuguese wine, at an average price of 4.25 euros per liter.
The president of the Portuguese wine promotion agency, Frederico Falcao, which has held major wine tasting events in South Korea and Japan in recent months, said the strong interest in Portuguese wines in these two markets has brought good business opportunities for the country’s producers and distributors.
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Falcao highlighted Japan as a strategic market for Portuguese wines, describing Japanese consumers as “connoisseurs of authentic, high-quality wines”.
“We know that Japan has a very rich food culture, so people really appreciate the perfect pairing between wine and food. In that sense, [through Wines of Portugal’s events] We are trying to showcase the authenticity and diversity of Portuguese producers.”
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