The rate of growth in retail constant value sales of fine wines/champagne and spirits will gradually slow over the course of the forecast period. They will exceed their pre-pandemic peak during 2023, with a revival in inbound tourism the main driver of this.
The pairing of the fine wines/champagne and spirits with fine foods is set to become more commonplace in high-end restaurants during the forecast period. For example, the recently opened Lalaport Kuala Lumpur offers what it calls the “ultimate luxurious sensorial dining experience” featured Chef James Won and Louis XIII cognac.
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 of this channel.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.See All of Our Definitions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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