PROSPECTS AND OPPORTUNITIES
The audience for fine wines/champagne and spirits is set to grow as more consumers look for small indulgences
Fine wines/champagne and spirits is anticipated to continue witnessing strong and steady growth in retail value (at constant 2024 prices) and retail volume terms. Premiumisation is expected to remain the main driving factor behind the category’s growth as the number of affluent consumers in South Africa continues to grow.
Changing drinking habits expected to benefit sales
Following the COVID-19 lockdowns, and the cost-of-living crisis that followed in South Africa, an increasing number of consumers opted for off-trade consumption. While the pandemic was declared over in 2023 this trend persisted in 2024 and it is expected to continue having an effect on the market over the forecast period.
Sustainability concerns likely to influence new product development and marketing
Following trends being seen across the market, it is expected that sustainability concerns are also likely to have a growing influence on the production of fine wines/champagne and spirits over the forecast period. For example, it is expected that a growing number of producers will invest in the development of more eco-friendly packaging, as well as products made with organic and local ingredients.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in South Africa 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 South Africa, 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 South Africa 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 South Africa?
- Which are the leading brands in Fine Wines/Champagne and Spirits in South Africa?
- How are products distributed in Fine Wines/Champagne and Spirits in South Africa?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in South Africa?
- 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 South Africa - Category analysis
KEY DATA FINDINGS
Price inflation fuels value growth in 2024 as players launch new products and marketing campaigns to attract consumers
Local craft distilleries focus on their South African heritage and use of local ingredients to win over consumers
NoLo trend making headway but luxury producers yet to make significant inroads in this area
The audience for fine wines/champagne and spirits is set to grow as more consumers look for small indulgences
Changing drinking habits expected to benefit sales
Sustainability concerns likely to influence new product development and marketing
Luxury Goods in South Africa - 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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