The import of grape wines and grape must to Malaysia has experienced a consistent upward trend since 2013. By 2023, the value of imports stood at $120.47 million USD. Over the last two years, imports increased by 3.27% in 2022 and 3.1% in 2023, showing a modest yet steady growth. The Compound Annual Growth Rate (CAGR) over the last five years has been 3.46%, reflecting a stable increase in import value. The forecast suggests that imports will continue to grow, with a five-year CAGR projected at 2.3%, leading to a total growth rate of 12.02% by 2028.
Future trends to watch for include:
- Potential fluctuations in import activity due to economic and geopolitical factors.
- Changes in consumer preferences and trends toward premium and organic wine products.
- Impact of trade agreements or changes in tariff policies affecting the cost of imports.
- Technological advancements in the wine industry that may influence supply chains and import practices.
- Increasing awareness and demand for sustainability in the wine industry.
