The wine demand in Malaysia has shown a steady growth trend in the past decade, with noticeable stability in values between 2014 and 2016, standing at 4.0 Thousand Metric Tons. In 2017, there was a significant increase by 25%, maintaining the new level of demand at 5.0 Thousand Metric Tons until 2019. In 2020, a slight dip of 5% was observed, attributed to various market fluctuations, although demand recovered to 5.0 Thousand Metric Tons in subsequent years. In 2023, the wine demand remained consistent at 5.0 Thousand Metric Tons. Over the last five years, the compound annual growth rate (CAGR) has been modest.
Future projections suggest a gradual increase in wine demand, reaching 5.31 Thousand Metric Tons by 2028 with an anticipated 5-year forecast CAGR of 0.85%. This indicates a potential overall growth rate of 4.32% over the forecast period.
- 2017 saw a sharp increase in demand (25%)
- A slight decline in 2020 (-5%)
- Stability resumed from 2021 through 2024
- Forecasted moderate growth through 2028
Future trends to watch for include potential impacts of changing consumer preferences, economic factors in Malaysia, and global wine market dynamics. It's also critical to observe the influence of local regulatory changes and import policies on the wine market.
