Luxury Foods Market Analysis 2015 Functional and Luxury Foods Market Analysis Luxury Foods Market Analysis November 2015 1 Luxury Foods Market Analysis 2015 Contents Background and Objective ..................................................................................... 6 Approach ................................................................................................................. 6 Luxury Foods Identified .......................................................................................... 7 Summary of Markets for Luxury Foods .............................................................. 10 Summary of Opportunities for South Australia .................................................. 12 Stage 1: Analysis by Country .............................................................................. 15 China and Hong Kong .......................................................................................... 15 Luxury Foods Consumption ............................................................................. 15 Luxury Foods Identified .................................................................................... 17 India ....................................................................................................................... 23 Luxury Foods Consumption ............................................................................. 23 Luxury Foods Identified .................................................................................... 25 Indonesia ............................................................................................................... 27 Luxury Foods Consumption ............................................................................. 27 Luxury Foods Identified .................................................................................... 28 Japan ..................................................................................................................... 30 Luxury Foods Consumption ............................................................................. 30 Luxury Foods Identified .................................................................................... 31 Korea (South Korea) ............................................................................................ 35 Luxury Foods Consumption ............................................................................. 35 Luxury Foods Identified .................................................................................... 36 Malaysia & Singapore .......................................................................................... 39 Malaysia versus Singapore .............................................................................. 39 Luxury Foods Consumption ............................................................................. 40 Luxury Foods Identified .................................................................................... 41 Stage 2: Analysis by Luxury Food ...................................................................... 45 Abalone .................................................................................................................. 45 Overview ............................................................................................................ 45 Market Size and Growth ................................................................................... 45 Distribution Channels ....................................................................................... 48 Demand Trends ................................................................................................ 48 Consumer Purchase Drivers............................................................................ 49 Product Preferences ......................................................................................... 49 Opportunities for South Australia .................................................................... 50 Bluefin Tuna .......................................................................................................... 52 Overview ............................................................................................................ 52 2 Luxury Foods Market Analysis 2015 Market Size and Growth ................................................................................... 52 Distribution Channels ....................................................................................... 56 Demand Trends ................................................................................................ 57 Consumer Purchase Drivers............................................................................ 57 Product Preferences ......................................................................................... 58 Opportunities for South Australia .................................................................... 58 Brandy.................................................................................................................... 61 Overview ............................................................................................................ 61 Market Size and Growth ................................................................................... 61 Demand Trends ................................................................................................ 63 Opportunities for South Australia .................................................................... 64 Caviar ..................................................................................................................... 65 Overview ............................................................................................................ 65 Market Size and Growth ................................................................................... 65 Demand Trends ................................................................................................ 66 Opportunities for South Australia .................................................................... 67 Chocolates ............................................................................................................ 68 Overview ............................................................................................................ 68 Market Size and Growth ................................................................................... 68 Distribution Channels ....................................................................................... 68 Consumer Purchase Drivers............................................................................ 71 Product Preferences ......................................................................................... 71 Opportunities for South Australia .................................................................... 71 Distilled Spirits ...................................................................................................... 73 Overview ............................................................................................................ 73 Market Size and Growth ................................................................................... 73 Distribution Channels ....................................................................................... 76 Demand Trends ................................................................................................ 77 Consumer Purchase Drivers............................................................................ 78 Product Preferences ......................................................................................... 78 Opportunities for South Australia .................................................................... 79 Matsutake Mushrooms ......................................................................................... 80 Overview ............................................................................................................ 80 Market Size and Growth ................................................................................... 80 Distribution Channels ....................................................................................... 81 Demand Trends ................................................................................................ 81 Consumer Purchase Drivers............................................................................ 82 3 Luxury Foods Market Analysis 2015 Product Preferences ......................................................................................... 82 Opportunities for South Australia .................................................................... 83 Olive Oil ................................................................................................................. 84 Overview ............................................................................................................ 84 Market Size and Growth ................................................................................... 84 Demand Trends ................................................................................................ 88 Consumer Purchase Drivers............................................................................ 89 Opportunities for South Australia .................................................................... 90 Red Wine ............................................................................................................... 92 Overview ...........................................................................................................