Southeast Asia, the lands of opportunity for Australian wine?

Published 2024년 10월 1일

Tridge summary

Southeast Asia, particularly Thailand, Vietnam, Philippines, and Indonesia, presents a lucrative market for Australian wine exporters due to its proximity, large population, and economic growth. Despite wine having a small market share in these countries, consumption is expected to grow while it declines in major established markets. Wine Australia and Austrade are strategizing to expand Australian wine presence in these markets through the Southeast Asia Roadshow in 2024 and other promotional activities. Thailand, with its growing wine market and Australia's leading position, benefits from a free trade agreement, despite high internal taxes on wine. Vietnam, with its fast-growing economy and increasing middle class, is reducing tariffs on Australian wine under free trade agreements. However, Vietnam is considering increasing the Special Consumption Tax on wine, and the wine market faces challenges due to COVID-19 and reliance on tourism.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Due to close proximity to Australia, large populations and strong economic growth, Southeast Asia is an attractive region for Australian wine exporters to consider, particularly in the emerging wine markets of Thailand, Vietnam, Philippines and Indonesia. The four countries have a combined population of over half a billion people. While wine currently has a relatively small share of the total alcoholic drinks market in each market, wine consumption is forecast to grow in the next five years. In contrast, wine consumption is forecast to continue to decline in major, established markets such as Australia, the United Kingdom and the United States. The region is a key focus in Wine Australia’s market diversification strategy. One key activity in the short-term is the Southeast Asia Roadshow, to be held from 7 to 16 October 2024. This an opportunity for Australian wineries to showcase their brands to wine importers, wholesalers, distributors, key trade and media in the Thailand, ...

Source: WineAustralia