Fah Mai Holdings Group Inc (OTC:FMHG) UK head Jacob Carter talked with Proactive's Stephen Gunnion about the current state of the Asian whisky market and emerging trends for 2023 and 2024.
According to Carter, while whisky volumes have increased by 10%, the overall value of rare bottles, especially those priced over £1000, has seen a decline. He shared insights into how ultra-high-end bottles still achieve record-breaking prices, but the market dynamics are shifting toward lower-priced bottles, where volume is growing by 18%.
Carter also touched on the rise of premiumisation in the market, where buyers are willing to pay more for single malts and aged whiskies from brands like Macallan, Glenfiddich, and Springbank. He highlighted Hong Kong’s role as a major whisky hub, benefiting from a tax-free environment for luxury goods. Jacob noted that despite macroeconomic pressures, the demand for premium and collectible whiskies remains strong.
“The whisky bottle market in Asia, particularly in Hong Kong, China, and Japan, does remain strong, with continued growth in sales volumes driven by its demand for premium and collectable bottles,” Carter stated, while cautioning about counterfeiting concerns and the impact of economic pressures on luxury goods.