The wine market size in Malaysia recorded a stable volume of 4.0 Thousand Metric Tons from 2014 to 2016. A significant increase occurred in 2017 when the volume rose to 5.0 Thousand Metric Tons and has generally maintained this level, except for a slight dip in 2020 to 4.75. The year 2021 saw a recovery to 5.0 Thousand Metric Tons, and this stability continued through 2023.
Key Trends:
- 2017 saw a 25% increase in volume.
- 2020 experienced a downturn of 5% due to external factors.
- Recovery to stable levels of 5.0 Thousand Metric Tons from 2021 onwards, maintaining till 2023.
Future Trends to Watch:
- Forecast data indicates a gradual annual increase, reaching 5.31 Thousand Metric Tons by 2028, with a 0.85% CAGR over the next five years.
- Monitor potential market disruptions or shifts in consumer preferences that could impact volume.