Malaysia: Wine Market 2023

Wine Exports

Exports from Malaysia

In 2022, shipments abroad of wine and grape must decreased by -70.4% to X litres, falling for the third consecutive year after six years of growth. Overall, exports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 118%. As a result, the exports reached the peak of X litres. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, wine exports contracted notably to $X in 2022. Over the period under review, exports, however, posted a slight expansion. The growth pace was the most rapid in 2016 with an increase of 121% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X litres), Hong Kong SAR (X litres) and Singapore (X litres) were the main destinations of wine exports from Malaysia, with a combined 35% share of total exports. China, Macao SAR, Vietnam and Maldives lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +23.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Malaysia were Thailand ($X), Hong Kong SAR ($X) and Singapore ($X), with a combined 36% share of total exports. Macao SAR, Vietnam, China and Maldives lagged somewhat behind, together comprising a further 10%.

Maldives, with a CAGR of +23.8%, recorded the highest growth rate of the value of exports, in terms of 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

The average wine export price stood at $X per litre in 2022, surging by 5.7% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine export price increased by +73.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 64%. Over the period under review, the average export prices reached the peak figure at $X per litre in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per litre), while the average price for exports to China ($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 Vietnam (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Malaysia

In 2022, wine imports into Malaysia soared to X litres, growing by 99% compared with the previous year's figure. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +101.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports skyrocketed 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 +4.5% 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 +89.4% against 2020 indices. As a result, imports reached 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, accounting for a 19% share of total imports. Moreover, wine imports from Australia exceeded the figures recorded by the second-largest supplier, Chile (X litres), fourfold. The third position in this ranking was taken by France (X litres), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+14.6% per year) and France (+3.4% per year).

In value terms, the largest wine suppliers to Malaysia were Australia ($X), France ($X) and Chile ($X), together accounting for 31% of total imports.

Chile, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, shrinking by -23.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per litre, and then dropped dramatically in the following year.

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 France ($X per litre), while the price for Singapore ($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 (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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