Japanese drinking on the decline
As Australians drink to good health, Japanese consumers are finding other ways to be healthy; like not drinking.
“The slowdown in Japanese economic growth, a shrinking population base, and restrained consumer spending are the key issues which are depressing demand in the Japanese alcoholic beverages sector”, says Datamonitor consumer markets analyst Gaurav Marchanda.
Marchanda says another factor in the decline of the both the population of Japanese people aged 20-34, and this groups’ lower tendency to drink alcohol.
The report highlighted heavy taxation of alcohol and health concerns as the key elements bringing the market down, particularly for global staples beer and whiskey.
“In the coming year, companies need to be focused on the acquisition of new brands and the offer of new and fresh tasting alcoholic beverages,” Marchanda advised businesses who are looking to get a foothold in the changing Japanese market.