Retail sales of fine wines/champagne and spirits in Japan are forecast to continue to increase in current terms over 2024-2029, with a similar CAGR anticipated in the forecast period as was seen in the review period. This is despite the pressure being placed on consumers due to the worsening economic situation, with growth driven by consumers seeking to Experience More through luxury consumption.
Premiumisation in domestic alcoholic drinks, which has accelerated in recent years, will also be a tailwind for fine wines/champagne and spirits in Japan. Emerging Japanese sake brands such as SAKE HUNDRED by Clear Inc, and MINAKI by Reborn Inc, are amongst the many sake brands which are positioned as premium, and have been receiving numerous internationally acclaimed awards.
Inbound tourism has been experiencing a strong rebound in Japan, and arrivals are expected to surpass the pre-COVID-19 (2019) level for the first time in 2024. The weak yen has allowed inbound tourists to shop, eat, drink, and experience various activities at lower prices than usual, which is very attractive to them, especially considering that inflation and the rising cost of living have been hitting other parts of the world more significantly.
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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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