Luxury wines and spirits is a premium consumer goods market that is concentrated on consumers focused on quality rather than pricing. The products offered in this market are high-quality fermented wines and distilled spirits such as rum, vodka, and brandy. They are usually distinguished by their content of alcohol by volume (ABV), which usually varies form 3–40% in these products. Their consumption is generally associated with events of significant importance in consumer’s life, for instance celebrations, anniversaries, parties, social gatherings, and personal moments. Currently, the products offered in this market are wines extracted from different fruit juices, for instance, grapes, apples, and pomegranate. Products containing spirits includes distilled beverages such as vodka, whisky, and tequila. Also, with growing popularity of innovative drinks like cocktails, there are numerous combinations of spirits and juices.
The global luxury wines and spirits market was valued at $970 billion in 2019, and is anticipated to reach $1,411 billion by 2027, with a CAGR of 4.9% during the forecast period. Rise in production of wine, advancements in flavor of products, an increase in spending on luxurious wines, and surge in number of wineries across the globe are the key factors that fuel the growth of the luxury wines and spirits market.
The global luxury wines and spirits market is generally driven by consumer satisfaction and fine quality of products. Rise in disposable incomes have further increased the consumption of these products as they are considered as status symbols. However, stringent government policies and regulations restrict their sales and distribution in some countries. Selective distribution of these products further limits the availability of these products among consumers. Opportunities like providing quality products to large masses at comparatively less premium pricing can further help boost the growth of this market. In addition, expanding distribution channels to provide these products to larger masses can provide a potential increase in consumers in the coming years.
The luxury wines and spirit market is segmented on the basis of type, distribution channel, and region. By type, it is categorized into wines/champagne and spirits. By distribution channel, it is divided into wholesale, retail, e commerce, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
The key players profiled in this report include Diageo, Pernod Ricard Bacardi, Brown-Forman, Thai Beverage Public Company Limited, Davide Campari-Milano S.p.A, Hitejinro Co.Ltd, Suntory Holdings Limited, Edrington, and LVMH Moët Hennessy - Louis Vuitton.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Type
By Distribution Channel
By Region
The global luxury wines and spirits market was valued at $970 billion in 2019, and is anticipated to reach $1,411 billion by 2027, with a CAGR of 4.9% during the forecast period. Rise in production of wine, advancements in flavor of products, an increase in spending on luxurious wines, and surge in number of wineries across the globe are the key factors that fuel the growth of the luxury wines and spirits market.
The global luxury wines and spirits market is generally driven by consumer satisfaction and fine quality of products. Rise in disposable incomes have further increased the consumption of these products as they are considered as status symbols. However, stringent government policies and regulations restrict their sales and distribution in some countries. Selective distribution of these products further limits the availability of these products among consumers. Opportunities like providing quality products to large masses at comparatively less premium pricing can further help boost the growth of this market. In addition, expanding distribution channels to provide these products to larger masses can provide a potential increase in consumers in the coming years.
The luxury wines and spirit market is segmented on the basis of type, distribution channel, and region. By type, it is categorized into wines/champagne and spirits. By distribution channel, it is divided into wholesale, retail, e commerce, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
The key players profiled in this report include Diageo, Pernod Ricard Bacardi, Brown-Forman, Thai Beverage Public Company Limited, Davide Campari-Milano S.p.A, Hitejinro Co.Ltd, Suntory Holdings Limited, Edrington, and LVMH Moët Hennessy - Louis Vuitton.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global luxury wines and spirit market, with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as, threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions
KEY MARKET SEGMENTS
By Type
- Wines/Champagne
- Spirits
By Distribution Channel
- Wholesale
- Retail
- E-Commerce
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Luxury Wines and Spirit Market, by Type
Chapter 5: Luxury Wines and Spirit Market, by Distribution Channel
Chapter 6: Luxury Wines and Spirits Market, by Region
Chapter 7: Competition Landscape
Chapter 8: Company Profiles
Companies Mentioned
- Diageo
- Pernod Ricard Bacardi
- Brown-Forman
- Thai Beverage Public Company Limited
- Davide Campari-Milano SpA
- Hitejinro CoLtd
- Suntory Holdings Limited
- Edrington
- LVMH Moët Hennessy - Louis Vuitton
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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