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Published on: April 15, 2015
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The Japanese wine market has now ‘come of age’ with wine drinkers increasingly open to new consumption http://pr.co/p/00254b
Summary
The Japanese wine market has now ‘come of age’ with wine drinkers increasingly open to new consumption occasions, wine styles and innovations, according to Rabobank’s latest Wine Quarterly Q2 report.
Japan ranks as one of the world’s most valuable wine import markets. However, many global wine-exporting regions had turned their attention away from Japan after the market declined from its peak 16 years ago.
Details

“But in more recent years, the hype surrounding the China wine market boom has coincided with a significant, yet much-less publicised, renewed interest in wine across the Sea of Japan,” according to Rabobank senior wine analyst Marc Soccio. “This has opened the way for New World producers, most notably Chile, to gain a foothold in the market, with the added advantage of a Free Trade Agreement.”

While the challenging economic environment in Japan remains, this is a wine market that is growing most strongly at premium price points which makes it very interesting to global wine producers. With competition expected to continue to heat up, more New World countries, and less familiar Old World powers such as Spain, are set to follow Chile’s lead in this market

Outlook for Global and Regional Markets

  • Signs of life return to the important, high-income Japanese wine import market.
  • Japanese wine consumers are increasingly open to new consumption occasions, wine styles and innovations.
  • New World country FTAs stand poised to stimulate competition, but fundamental economic headwinds continue to constrain market growth.

For more information about this publication please contact its authors:

Marc Soccio: marc.soccio@rabobank.com, Australia, +61 4 1841 3187

Stephen Rannekleiv: stephen.rannekleiv@rabobank.com, USA, +1 212 808 6823

Elena Saputo: Elena.Saputo@rabobank.com, Europe, +31 30 7122375

For other information, please contact Rabobank press office:

k.verheul1@rn.rabobank.nl+31 30 21 66918

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Quotes
“But in more recent years, the hype surrounding the China wine market boom has coincided with a significant, yet much-less publicised, renewed interest in wine across the Sea of Japan” . “This has opened the way for New World producers, most notably Chile, to gain a foothold in the market, with the added advantage of a Free Trade Agreement.”

— Rabobank senior wine analyst Marc Soccio