Malaysia: Wine Market 2024

Wine Market Size in Malaysia

In 2022, the Malaysian wine market increased by X% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wine Exports

Exports from Malaysia

In 2022, exports of wine and grape must from Malaysia skyrocketed to X litres, increasing by X% compared with 2021. Over the period under review, exports, however, showed a deep downturn. Over the period under review, the exports hit record highs at X litres in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, wine exports skyrocketed to $X in 2022. In general, exports, however, saw a noticeable contraction. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X litres) was the main destination for wine exports from Malaysia, accounting for a X% share of total exports. Moreover, wine exports to Thailand exceeded the volume sent to the second major destination, Hong Kong SAR (X litres), twofold. The third position in this ranking was taken by Singapore (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Singapore (X% per year).

In value terms, the largest markets for wine exported from Malaysia were Thailand ($X), Hong Kong SAR ($X) and Singapore ($X), together accounting for X% of total exports. Macao SAR, China, India, Australia, the United States, the Philippines, the United Arab Emirates and Maldives lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per litre), while the average price for exports to the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Malaysia

In 2022, overseas purchases of wine and grape must were finally on the rise to reach X litres after five years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X litres in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, wine imports surged to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X litres) constituted the largest supplier of wine to Malaysia, with a X% share of total imports. Moreover, wine imports from Australia exceeded the figures recorded by the second-largest supplier, France (X litres), twofold. Chile (X litres) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Australia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Chile (X% per year).

In value terms, the largest wine suppliers to Malaysia were Australia ($X), France ($X) and Chile ($X), together accounting for X% of total imports. Italy, the United States, Singapore, Spain and Argentina lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wine import price amounted to $X per litre, rising by X% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per litre), while the price for Singapore ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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