PROSPECTS AND OPPORTUNITIES
Fine wines/champagne and spirits forecast to see rising retail current value sales, backed by the Experience More trend
Retail sales of fine wines/champagne and spirits in Japan are forecast to continue to increase in current terms over 2024-2029, with a similar CAGR anticipated in the forecast period as was seen in the review period. This is despite the pressure being placed on consumers due to the worsening economic situation, with growth driven by consumers seeking to Experience More through luxury consumption.
Premiumisation in Japanese sake and whisky will continue to support value growth
Premiumisation in domestic alcoholic drinks, which has accelerated in recent years, will also be a tailwind for fine wines/champagne and spirits in Japan. Emerging Japanese sake brands such as SAKE HUNDRED by Clear Inc, and MINAKI by Reborn Inc, are amongst the many sake brands which are positioned as premium, and have been receiving numerous internationally acclaimed awards.
Increase in inbound tourism will support growth
Inbound tourism has been experiencing a strong rebound in Japan, and arrivals are expected to surpass the pre-COVID-19 (2019) level for the first time in 2024. The weak yen has allowed inbound tourists to shop, eat, drink, and experience various activities at lower prices than usual, which is very attractive to them, especially considering that inflation and the rising cost of living have been hitting other parts of the world more significantly.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Japan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Japan report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Japan?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Japan?
- How are products distributed in Fine Wines/Champagne and Spirits in Japan?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Japan?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in Japan - Category analysis
KEY DATA FINDINGS
Solid value growth observed, while volume growth is limited
Other fine wine and other luxury spirits continue to perform well in 2024
MHD Diageo Moët Hennessy KK continues to lead a highly fragmented category
Fine wines/champagne and spirits forecast to see rising retail current value sales, backed by the Experience More trend
Premiumisation in Japanese sake and whisky will continue to support value growth
Increase in inbound tourism will support growth
Luxury Goods in Japan - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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