PROSPECTS AND OPPORTUNITIES
Luxury brandy and cognac, luxury whiskies expected to top performance in fine wines/champagne and spirits in forecast period
Sales of luxury spirits are projected to see stronger growth in value (at constant 2024 prices) and volume terms over the forecast period than sales of fine wines. Gifting and sales to foreign tourists are projected to remain a key source of sales and thus personalised and limited-edition bottles are expected to remain highly significant.
Bars and tasting events could be key to growth in fine wines/champagne and spirits
There is an evolving bar scene in Malaysia and the forecast period is likely to see the emergence of more new bars, including those which showcase unique and innovative cocktail mixing. Some of the notable new bars to open towards the end of the review period include Bar Ethanol KL, Qi Bar KL, Mona Lisa KL, Juno and Sarastro KL.
Binge drinking concerns could dampen demand while e-commerce opens up new sales opportunities
The Ministry of Health’s 2023 National Health and Morbidity Survey (NHMS) found that 45 per cent of alcohol drinkers in Malaysia engaged in binge drinking with these findings raising some concern. Binge drinking is defined as those who consume six or more standard alcoholic drinks in one sitting.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Malaysia 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 Malaysia, 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 Malaysia 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 Malaysia?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Malaysia?
- How are products distributed in Fine Wines/Champagne and Spirits in Malaysia?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Malaysia?
- 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 Malaysia - Category analysis
KEY DATA FINDINGS
Luxury whiskies thriving thanks to tasting events and localised limited editions
Players focus on wine appreciation and gifting to drive sales in Malaysia
Producers of luxury brandy and cognac use interesting and engaging events to fuel demand in 2024
Luxury brandy and cognac, luxury whiskies expected to top performance in fine wines/champagne and spirits in forecast period
Bars and tasting events could be key to growth in fine wines/champagne and spirits
Binge drinking concerns could dampen demand while e-commerce opens up new sales opportunities
Luxury Goods in Malaysia - 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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