Who Are Asia’s Top 50 Wine Importers?

Asia, home to over 4.8 billion people and accounting for 60% of the global population, is no longer just an emerging player in the wine industry—it’s the future.

From the luxury wine corridors of Tokyo and Seoul to the emerging palates in Bangkok and Mumbai, the region’s top importers are the gatekeepers, driving trends and shaping the future of global wine consumption. As Asia’s demand for fine wine continues to grow, understanding the power players behind the bottles has never been more critical.

This report spans the vast and diverse wine markets of Asia, profiling the leading importers from established giants in Japan, South Korea, China, Singapore, and Hong Kong to emerging growth hubs in Thailand, Vietnam, India, the Philippines, and Taiwan. Each market offers its own unique opportunities, but collectively, they illustrate Asia’s significant role in the global wine landscape. 

For wine producers and global brands, understanding these markets is essential for successful market entry, growth, and long-term positioning. This report provides not just a snapshot of the top players, but also the strategies, consumer trends, and regulatory insights that will empower you to make informed decisions. Whether you’re looking to establish a foothold in a new market or optimize your existing presence, this report serves as a roadmap, offering critical intelligence on the challenges, opportunities, and best practices for thriving in Asia’s complex wine ecosystem.

For top wine-producing countries such as France, Italy, and Spain, Asia’s allure is undeniable. Japan, South Korea, China, Hong Kong, and Singapore consistently rank among the top 10 most desirable export destinations, as highlighted by the 2023 ProWein and Geisenheim University report.

However, the highs of chasing growth in this region have not been without challenges. The region has seen dramatic swings. In the 2000s, China was the red-hot darling of the wine world, but after anti-corruption measures, the pandemic, and property woes, it is entering what some lampoon as “garbage time.” As it slows, South Korea emerged as a new growth engine during the pandemic, with strong home consumption driving rapid wine sales, though this was later tempered by a wine glut, as shown by sales revenue from all the key importers we have profiled in this report with declines ranging from 5.6% to 20.4% in 2023.

One of the most exciting markets to watch in 2024 is Thailand. The market has evolved significantly in recent years—mergers among importers, the removal of stiff taxes, and a strong tourism recovery have set the stage for exponential growth. According to Austrade, Thailand’s wine market was valued at US$1.21 billion in 2023, making it the largest in ASEAN countries. The Thai government’s recent landmark policy to cut import tariffs and reduce excise taxes has the potential to turbo-charge the country’s wine market. Thailand’s well-established hospitality industry and steady flow of tourists from neighbouring countries and the West could lead to a wine boom similar to Hong Kong’s post-2008 surge following its tariff removal.

As a result, the leading Thai importers we profiled in this report have all seen significant growth. Some have reported revenue increases of over 100% during the pandemic, with key players like XXXXX and XXXXXXX surpassing XXXXXXXXX in sales. Across the board, in all seven leading Thai importers we have profiled, the majority have experienced double-digit growth in 2023, with only one exception—an importer heavily reliant on Bordeaux. To put it in perspective, despite Thailand’s economy being less than one-third the size of China’s, the country’s largest wine importer, within just a few years, has grown to generate XXXXXXXX in revenue last year —on par with China’s biggest fine wine importer, ASC Fine Wines.  

Vietnam is another ASEAN country riding a wave of growth. By 2022, the Vietnamese wine market had reached 16 million liters, valued at US$341 million, making it the fourth-largest in ASEAN. Vietnam imported US$35 million worth of wine in 2022, with most of it coming from Italy, France, Chile, and Australia. However, challenges remain, including the impending doubling of wine taxes by 2030, which will impact future growth.

Singapore, though the smallest market by size, remains one of the wealthiest and most influential, while other markets like Malaysia and the Philippines face higher hurdles due to steep taxes. In Malaysia, taxes on alcohol can range from 150% to 250%, and in the Philippines, wine is taxed based on alcohol content and retail price. Meanwhile, in India—one of the region’s most promising yet complex markets—prohibitive tariffs and provincial regulations create substantial challenges for even the most determined wine importers. Wine taxes in India vary significantly, from a low of 49% in Goa to a staggering 83% in Karnataka.

Despite these hurdles, our extensive research and interviews have uncovered the top 50 wine importers in Asia, with 25 reporting annual sales exceeding US$ 10 million, 22 surpassing US$30 million, and 7 exceeding US$100 million. At the top end, one importer has seen revenues soar to USD 236 million. Large conglomerates such as Suntory, with its sprawling network across Europe, Japan, and China, reported XXXXX in alcoholic beverage sales last year, while Thailand’s Siam Winery, which produces and distributes a variety of alcoholic drinks, surged to xxxXXxx in revenue. 

The selection of the Top 50 wine importers in this report is based on a combination of factors, including annual revenue, market influence, distribution networks, import volumes, and growth trajectory. Each importer was carefully evaluated to ensure their impact on the market is significant and represents both established and emerging players.

Download the full 125-page report here. Each company proflie includes company size, staff number, portfolio, distribution channels, latest sales revenue in addition to key contact details. Sample is available upon request.