Retail sales of fine wines/Champagne and spirits look set to rise at a current value CAGR of 7% (2023 constant value CAGR of 4%) over 2023-2028 to amount to MYR408 million. This growth will be primarily driven by the fact that alcoholic drinks in general are often regarded as an inexpensive indulgences.
Luxury spirits looks set to see retail sales increase at a current value CAGR of 6% (2023 constant value CAGR of 4%) over the forecast period to total MYR215 million. Luxury spirits is expected to remain the largest category within fine wines/Champagne and spirits in value terms with sales expected to be boosted as a result of lower and middle-income consumers socialising more at home.
E-commerce will continue to grow in importance as a distribution channel for fine wines/Champagnes and spirits – albeit from a relatively low base. Affluent local consumers are gradually becoming more accustomed to purchasing these products online, appreciating the wide product offer available through this channel.
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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.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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