On October 17, it was reported that according to the latest analysis of the International Wine and Spirits Research Organization (IWSR), Thailand's imports of eoe beer and whisky are shrinking, because wine and Baijiu occupy a larger market share.
Wine holds a larger market share in the Thai beverage market
IWSR data shows that Thailand's thriving tourism and catering industries are creating new opportunities for beverage brands.
In 2024, the total production of alcoholic beverages in Thailand increased by 2%, which is the same as the period from 2019 to 2024. However, this reflects a period of change, where the total output has not shrunk.
Traditionally dominant beer and whisky are giving way to wine and Baijiu in the market.
Beer continues to maintain a strong momentum in Thailand, with beer accounting for over 80% of current consumption in the high-end and above price range by 2024. However, imported beer has always struggled to compete with well-known local brands.
Whiskey is no longer popular
Jalene Teng, senior market analyst of IWSR, explained: "The beer category in Thailand remains flexible because it is popular with local people and tourists, and local brands are also constantly strengthening brand building. With the market becoming more mature and consumers' favor, wine is a growing category - Baijiu such as tequila, rum, vodka and gin are rapidly becoming popular in cocktail bars."
Tax reduction measures have boosted the wine market. According to IWSR data, the import volume of still wine increased by 3% in 2024 and is expected to continue growing until 2029, with a compound annual growth rate of 3%. Last year, the import volume of sparkling wine also increased by 3%, but it is expected that the growth will slow down in the future, with a compound annual growth rate of 1% from 2024-29.
The past free trade agreements have given Chilean and Australian wines an advantage in Thailand. But the new tax reduction measures particularly benefit American and Italian wines. In 2024, the consumption of Italian wine increased by 9%, surpassing New Zealand (+7%), Australia (+3%), and Chile (+1%).
Thai consumers are increasingly favoring wine over spirits, especially brown spirits, because people believe that wine is beneficial to health and has lower levels of drunkenness, "Teng said. Wine is considered to have anti-aging and healthier effects, especially among women and urban white-collar workers
Nowadays, wine consumption is closely linked to social occasions and shared experiences, with people typically enjoying wine in restaurants, bars, and various events. The rise of liquor stores and wine festivals in big cities has further driven the growth of wine consumption.
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