Wine - Fiji

The Wine market in Fiji has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Fiji, there has been a growing demand for wine among consumers due to changing lifestyles and increasing disposable incomes. Wine is no longer seen as a luxury item, but rather as a popular beverage choice for social occasions and everyday consumption. Consumers are becoming more adventurous in their taste preferences, seeking out different varieties and flavors of wine from around the world. Additionally, there is a growing interest in wine as a healthier alternative to other alcoholic beverages, as it is often perceived as having lower alcohol content and fewer additives.

Trends in the market: One of the key trends in the wine market in Fiji is the increasing popularity of imported wines. As consumers become more knowledgeable about wine and its different varieties, they are seeking out wines from renowned wine-producing regions such as France, Italy, Australia, and New Zealand. This trend is driven by a desire for authenticity and the perception that imported wines are of higher quality. As a result, there has been a rise in the number of wine importers and distributors in Fiji, catering to the growing demand for imported wines. Another trend in the market is the emergence of local wineries in Fiji. While the country's tropical climate is not traditionally associated with wine production, there are a few local wineries that have successfully cultivated vineyards and produced wines using locally grown grapes. These local wineries are capitalizing on the growing interest in wine among consumers and offering unique, locally produced wines that showcase the terroir of Fiji. This trend not only supports the local economy but also contributes to the overall development of the wine market in Fiji.

Local special circumstances: Fiji's tourism industry plays a significant role in the development of the wine market. The country attracts a large number of international tourists, many of whom come from countries with a strong wine culture. These tourists often seek out local wine experiences and are willing to pay a premium for high-quality wines. This has created opportunities for local wineries and wine retailers to cater to the demand from tourists and promote Fiji as a wine destination.

Underlying macroeconomic factors: The growth of the wine market in Fiji is also influenced by underlying macroeconomic factors. The country's stable economy and increasing disposable incomes have contributed to a rise in consumer spending on luxury items, including wine. Additionally, Fiji's favorable tax policies and import regulations have made it easier for wine importers to bring in a wide range of wines from different countries. This has led to increased availability and variety of wines in the market, further fueling the growth of the wine industry in Fiji. In conclusion, the wine market in Fiji is experiencing growth due to changing customer preferences, including a demand for imported wines and the emergence of local wineries. The country's tourism industry and favorable macroeconomic factors also contribute to the development of the market. As consumers become more knowledgeable and adventurous in their wine choices, the wine market in Fiji is expected to continue its upward trajectory.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.