Taiwan Opportunities for the Portuguese Wines
ABOUT TAIWAN MARKET With a population of more than 23 million, Taiwan is home to a growing market for imported wine and spirits. The Metropolitan region of Taipei accounts for more than 7 millions Inhabitants. The purchasing power of the Taiwanese people is demonstrated by the increasing consumption of wine and spirits: - since 2010, consumption of wine in Taiwan has grown by 8.6% annually; - consumption of spirits has grown at a rate of 8.8% per year.
ABOUT TAIWAN MARKET Taiwan has an increasing number of wine lovers, particularly young women. Chilean and Argentinian wines are the most-consumed, partly due to their low retail prices. Among more expensive wines, Italian, Spanish and French are clear favorites. Sales of white wines represent about 10% of total market share, while rosé wines are among the least-popular varieties available on the market. Demand for sparkling wines is also enjoying rapid growth.
ABOUT TAIWAN MARKET The growth of the Taiwanese wine market can be attributed to women, and young people born between 1980 and the mid- 1990 s. For these two groups, the consumption of wine is considered to be an essential part of their desired lifestyle. Because wine is still considered to be a luxury product by the Taiwanese middle class the product label and the overall presentation of a wine are crucial to its success in the market.
ABOUT TAIWAN MARKET The average middle-class wine consumer is also likely to do their homework and select a wine at the best possible price. The average price for a liter of imported French wine is $14.50 (US), higher than the average price for a liter of Italian wine, which goes for around $9.50. These prices are higher than the average selling prices for Australian wine ($6.30/liter), Chile ($4.82/liter) and Spain ($3.54/liter).
ABOUT TAIWAN MARKET Taxes on imported alcoholic beverages are relatively high in Taiwan. Before reaching the final consumer, a single bottle of wine imported to Taiwan has 3 different taxes applied to it: - The alcohol tax; - An import tax (10% for standard wine, 20% for sparkling wines and port); - Goods and Services tax.
ADVANTAGES OF PORTUGUESE WINES IN TAIWAN The History and the storytelling - Portugal has almost 900 years of history and the oldest wine region in the world. Difference and Uniqueness more than 250 Indigenous Varieties and 31 Wine Regions. A world of difference, in which the vast and extraordinarily diverse specter of the wine growing map has become a main trademark. Portugal stands out in the price/quality ratio as even the more expensive wines are still accessible.
APPROACHING TAIWAN MARKET Visit the market, in order to know your buyers and consumers. Find your local business partner and support them. Place your wines in a gastronomic context Wine Dinners, Wine seminars, Wine and Food pairing. Emphasize your uniqueness and diversity. Build up positive connotations of Portuguese Wines.
TUGA, PROMOTING PORTUGUESE PRODUCTS IN TAIPEI Since 2015, TUGA is the Portuguese restaurant in Taipei. With a wide range of Portuguese wines and gourmet products. A beautiful space and ambiance, creating great moments of positive connotations for Portuguese wine and food.
TUGA, PROMOTING PORTUGUESE PRODUCTS IN TAIPEI
WINE & GOURMET TAIPEI 2015
Thanks! ANY QUESTIONS? You can find me at pedropinabrito@portugalwineguide.com
ABOUT TAIWAN MARKET Sources: Le marché du vin et des spiritueux à Taiwan et ses perspectives à l horizon 2017 http://www.vinexpohongkong.com/wp-content/uploads/sites/2/2015/08/iwsr-taiwan.pdf Customs Administration, Ministry of Finance, Trade Statistic Search, May 2015 euromonitor.com - wine in taiwan report Administration des douanes, Ministère des Finances, du Commerce statistique, Taiwan. Jan 2015 Australian Trade and Investment Commission - Wine to Taiwan - Trends and opportunities Paul Pen Wang Strategies to Promote Portuguese Wines in Taiwanese Market Global Wine & Spirits 2016 Market Study - The Taiwanese Wine Market