Portuguese wine is taking off in Asia, with Japan and South Korea emerging as strategic markets for vinho priced at the premium end of the spectrum, according to industry publication the Drinks Business.
While trade data shows both markets were tiny players by volume last year, their consumers appear willing to pay more than most for a bottle of fine wine – according to Adrian Bridge, CEO of Portuguese wine distributor the Fladgate Partnership.
Bridge told the Drinks Business that South Korea and Japan both showed significant interest in aged Alvarinho, a white wine made from grapes grown in Portugal’s far north. He noted that the premium prices obtainable in the East Asian countries meant his company now “favours allocations in those markets”.
[See more: Portuguese wine exports to China show a major spike]
South Koreans also rank among the top ten sources of travellers to Fladgate’s tourism centre in Porto, Portugal’s second-largest city – further indication of their increasing interest in wines.
In 2023, Portuguese wine exports reached 928 million euros (about 8 billion patacas) in value – for 319 million in litres, equating to an average price per litre of 2.90 euros. While South Korea imported just 623,000 litres, it paid on average 7.02 euros per litre. Japan, with more than twice South Korea’s population, imported 1.8 million litres of Portuguese wines at an average price of 4.25 euros per litre.
The promotional agency Wines of Portugal has held large tasting events in both South Korea and Japan in recent months. The organisation’s president, Frederico Falcão, noted that strong interest in Portuguese wines from both markets presented promising opportunities for the country’s producers and distributors.
[See more: Our pick of Macao’s best Portuguese restaurants]
Falcão highlighted Japan as a strategic market for Portuguese vino and described Japanese consumers as “great connoisseurs of authentic, high-quality wines”.
“We know that Japan has a very rich gastronomic culture, so there is an appreciation for the perfect harmonisation between wines and food. In this sense, [through Wines of Portugal’s events] we are trying to show the authenticity and diversity of Portuguese producers.”
