Retail sales of fine wines/champagne and spirits are set to grow at a current value CAGR of 7% (2024 constant value CAGR of 5%) over the forecast period to reach KRW1.2 trillion.
Across the forecast period, fine wines/champagnes and spirits will continue to be positively impacted by the trend of buying experience-based goods above material goods, with social drinking of spirits, mixology, flavour-exploration and premium drinks enjoyed in a quality-above-quantity approach, bolstering sales.
Fine wine sales will see growth of 7% across the forecast period, set to reach sales of KRW 676 in 2029. In addition to the rise of wealthier consumers, sales will benefit as more lower and middle-income consumers invest in fine wines to drink at home and with friends, aligning with a quality-above-quantity approach.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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