With international travel hugely disrupted for Ukrainians during the pandemic and therefore there being limited ability to buy fine wines/champagne and spirits in airports and abroad, where such products are significantly cheaper, consumers bought products locally instead and this maintained value sales. In 2021, with the pandemic far from over, and international travel still disrupted, the situation remains the same.
International brands are well-known and enjoy competitive advantage. Investments in brand awareness through marketing and advertising have consolidated their leading positions in a highly fragmented category.
While champagne brands lead in terms of value sales, luxury spirits are expected to register the highest current value growth in 2021, and whiskies in particular are expected to register healthy growth. In Ukraine, when purchasing fine spirits, consumers like the purchase to reflect its elevated status and so for instance, with whiskies and cognac, those products with the aging designation specified on the bottle are more popular.
Fine wines/champagne and spirits will register very healthy constant value growth over the forecast period. It is hoped that COVID-19 will not have a long-term effect on the economy and if disposable incomes continue to rise, then consumers will be prepared to spend money on fine wines/champagne and spirits, in what is currently a relatively small product area with significant growth potential.
Spirits will overtake champagne and fine wines in terms of value sales by the end of the forecast period, with whiskies in particular driving this growth. Spirits have traditionally been popular in Ukraine among a wide range of consumers.
Ukraine is witnessing a change in attitudes amongst the generations, with millennials no longer focusing on quantity but quality. This is helping to expand the consumer base of fine wines/champagne and spirits, with more affluent younger Ukrainians seeking to emulate their peers in Western countries and are much more open to new experiences and trends within fine wines/champagne and spirits.
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Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Ukraine 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 Definitions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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