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Top Growth Opportunities: Wine in Malaysia

Top Growth Opportunities: Wine in Malaysia

  • January 2018
  • 97 pages
  • ID: 5304841
  • Format: PDF
  • By GlobalData

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Top Growth Opportunities: Wine in Malaysia

Summary
Among the 2016’s top 10 wine markets, Malaysia is the smallest in terms of per capita expenditure in US$ terms. Looking into the future, the per capita expenditure on wine products in Malaysia is expected to grow by over 7% CAGR during 2016-2021. This growth is primarily attributed to the rising disposable incomes of the large base of young Malaysian consumers and their willingness to spend more on premium wine products while socializing with friends and family.

Furthermore, stronger economic conditions, a huge influx of affluent tourists, and increasing awareness and acceptance of wine products among Malaysian consumers will further boost the growth of the market. Although Muslim Malaysians are prohibited from consuming alcoholic beverages under Islamic law, the wine sector is likely to rise through targeting the non-Muslim community as prospective consumers.

Malaysian wine sector was valued at over US$570 Million in 2016. The country’s wine market is forecast to grow at a CAGR of about 7.5% during 2016-2021, to cross US$990 Million by 2021.

The report "Top Growth Opportunities: Wine in Malaysia", provides recommended actions and detailed analysis of how to target the best growth opportunities for wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of wine markets in Malaysia through our detailed and robust data, expert insight, and case studies.

In particular, this report provides the following -
- Key consumer demographic groups driving consumption within the Malaysian market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why.
- A study of market value and volumes over 2011-2016 for Malaysia, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and regional product innovation targeting key consumer needs.

Companies mentioned in this report: Treasury Wine Estates, Pernod Ricard,E& J Gallo Winery

Scope
- Among 2016’s top ten wine markets, Malaysia is the smallest in terms of per capita expenditure in US$ terms. Looking to the future, the per capita expenditure on wine products in Malaysia is expected to grow by 7.5% CAGR during 2016-2021.
- The growth is primarily attributed to the rising disposable incomes of the large base of young Malaysian consumers and their willingness to spend more on premium wine products while socializing with friends and family. Despite the fact that many Malaysians are prohibited from consuming alcoholic beverages due to Islamic law, the wine sector in Malaysia offers opportunities by targeting the non-Muslim community as prospective consumers, who accounts for around 40% of the population. Therefore, with nearly a half (47%)1 ‘completely or somewhat agreeing that their disposable income is increasing’, winemakers can capitalize on the shift towards more sophisticated wine preferences driven by wealthier middle-class population, foreign expatriates, and affluent tourists.

Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of Malaysia’s wine consumers.
- This is based on GlobalData’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Wine sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.

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