Asian leading in luxury wine demand

Asia is expected to account for around 40% of the world’s total luxury demand by 2014 and to have reached a value of over US$310 billion by 2015.

With GDP growth of 5% and above across large Asian markets, economies are rapidly developing and shifting in response to a noticeable emerging middle class with disposable income.

Currently 27% of all global luxury goods are bought in Asia and 43% are bought by Asian consumers. The region is expected to account for around 40% of the world’s luxury demand by 2014 and to have reached a value of over USD$310bn by 2015.

The IWSR Global Forecasts Report 2010-15 says Asia Pacific is forecasted to account for 27% (volume) of the super-premium and above spirits by 2015, 73% (volume) of all ultra-premium and above spirits and 80% of the prestige spirits segments in the next five years.