Market Overview
The global Luxury Wines and Spirits market size is expected to reach USD 443.2 billion by 2029, registering a compound annual growth rate (CAGR) of 5.3% during the forecast period. The market is anticipated to be driven by the growing trend of premiumization among consumers across the globe. In addition, the increasing disposable income and changing lifestyles of people are projected to propel the demand for luxury wines and spirits over the forecast period. Moreover, the rising popularity of wine tourism is expected to create significant growth opportunities for market players in the coming years.
The market is driven by the growing demand for premium and super-premium products, changing consumer preferences, and rising disposable incomes.
The luxury wines and spirits market is segmented by type into wine, whisky, vodka, rum, brandy, and others. The wine segment is further divided into red wine, white wine, rose wine, and sparkling wine. The whisky segment is further classified into Scotch whisky, Irish whiskey, American whiskey, Canadian whiskey, and Japanese whiskey. The vodka segment is sub-segmented into flavored vodka and unflavoured vodka. The rum segment includes spiced rum and dark rum. The brandy segment includes cognac and Armagnac.
The luxury wines and spirits market is also segmented by distribution channel into on-trade channels and off-trade channels. On-trade channels include bars & clubs, restaurants & hotels, and duty-free shops. Off-trade channels include supermarkets & hypermarkets, specialty stores, online retailers, and others.
The rising disposable incomes and shifting preferences of consumers are the major factors driving the growth of this market. Additionally, the increasing number of women drinkers and the growing popularity of wine tourism is projected to create lucrative opportunities for market players in the coming years.
Players operating in the global luxury wines and spirits market are focusing on expanding their geographical presence to cater to the needs of a wider customer base. For instance, Moet Hennessy, one of the leading players in this market, has a strong presence in Europe, North America, Asia Pacific, Africa, and Latin America. The company has been investing heavily in marketing activities to promote its products in these regions. Moreover, companies are also investing in R&D activities to develop innovative products and expand their product portfolios.
Some of the key players in the luxury wines and spirits market are Pernod Ricard SA (France), Diageo plc (UK), LVMH Moet Hennessy Louis Vuitton SE (France), Bacardi Limited (Bermuda), Brown-Forman Corporation (US), Beam Suntory Inc. (US).
Market Drivers
1. Increasing preference for premiumization: Rising disposable incomes across the globe are resulting in an increasing preference for premiumization, which is a key factor driving the growth of the global luxury wines and spirits market.
2. Growing demand from Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the luxury wines and spirits market due to the growing demand from countries such as China and India.
3. Expansion of the global middle class: The expansion of the global middle class is another key factor driving the growth of the luxury wines and spirits market as this population segment is increasingly spending on premium products.
4. Rapid urbanization: Urbanization is another key driver of market growth as it leads to changes in lifestyle and consumption patterns, resulting in increased demand for luxury wines and spirits.
Covid-19 Impact on Luxury Wines and Spirits Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world.
Report Includes
An overview of the global Luxury Wines and Spirits market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Luxury Wines and Spirits market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Luxury Wines and Spirits market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Luxury Wines and Spirits market for components from 2022 through 2029
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global Luxury Wines and Spirits market is segmented on the basis of type, price, distribution channel, and geography.
Type: The Luxury Wines and Spirits market is classified into red wine, white wine, whisky, vodka, rum, tequila, and others.
Price: The Luxury Wines and Spirits market is categorized into premium, super-premium, and ultra-premium.
Distribution Channel: The luxury wines and spirits market is fragmented into on-trade and off-trade. On-trade covers sales through restaurants, bars & clubs, hotels & resorts, while off-trade includes all other retail outlets such as supermarkets & hypermarkets.
Geography: The luxury wines and spirits market has been divided into North America (U.S., Canada), Europe (U.K., Germany), Asia Pacific (China), Latin America (Brazil), Middle East & Africa (South Africa).
Global Luxury Wines and Spirits market Competitive Analysis:
Key players in the Global Luxury Wines and Spirits market are 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 and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Luxury Wines and Spirits market is distributed on the basis of the below-mentioned segments:
Global Luxury Wines and Spirits Market, By Type:
The global Luxury Wines and Spirits market size is expected to reach USD 443.2 billion by 2029, registering a compound annual growth rate (CAGR) of 5.3% during the forecast period. The market is anticipated to be driven by the growing trend of premiumization among consumers across the globe. In addition, the increasing disposable income and changing lifestyles of people are projected to propel the demand for luxury wines and spirits over the forecast period. Moreover, the rising popularity of wine tourism is expected to create significant growth opportunities for market players in the coming years.
The market is driven by the growing demand for premium and super-premium products, changing consumer preferences, and rising disposable incomes.
The luxury wines and spirits market is segmented by type into wine, whisky, vodka, rum, brandy, and others. The wine segment is further divided into red wine, white wine, rose wine, and sparkling wine. The whisky segment is further classified into Scotch whisky, Irish whiskey, American whiskey, Canadian whiskey, and Japanese whiskey. The vodka segment is sub-segmented into flavored vodka and unflavoured vodka. The rum segment includes spiced rum and dark rum. The brandy segment includes cognac and Armagnac.
The luxury wines and spirits market is also segmented by distribution channel into on-trade channels and off-trade channels. On-trade channels include bars & clubs, restaurants & hotels, and duty-free shops. Off-trade channels include supermarkets & hypermarkets, specialty stores, online retailers, and others.
The rising disposable incomes and shifting preferences of consumers are the major factors driving the growth of this market. Additionally, the increasing number of women drinkers and the growing popularity of wine tourism is projected to create lucrative opportunities for market players in the coming years.
Players operating in the global luxury wines and spirits market are focusing on expanding their geographical presence to cater to the needs of a wider customer base. For instance, Moet Hennessy, one of the leading players in this market, has a strong presence in Europe, North America, Asia Pacific, Africa, and Latin America. The company has been investing heavily in marketing activities to promote its products in these regions. Moreover, companies are also investing in R&D activities to develop innovative products and expand their product portfolios.
Some of the key players in the luxury wines and spirits market are Pernod Ricard SA (France), Diageo plc (UK), LVMH Moet Hennessy Louis Vuitton SE (France), Bacardi Limited (Bermuda), Brown-Forman Corporation (US), Beam Suntory Inc. (US).
Market Drivers
1. Increasing preference for premiumization: Rising disposable incomes across the globe are resulting in an increasing preference for premiumization, which is a key factor driving the growth of the global luxury wines and spirits market.
2. Growing demand from Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the luxury wines and spirits market due to the growing demand from countries such as China and India.
3. Expansion of the global middle class: The expansion of the global middle class is another key factor driving the growth of the luxury wines and spirits market as this population segment is increasingly spending on premium products.
4. Rapid urbanization: Urbanization is another key driver of market growth as it leads to changes in lifestyle and consumption patterns, resulting in increased demand for luxury wines and spirits.
Covid-19 Impact on Luxury Wines and Spirits Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world.
Report Includes
An overview of the global Luxury Wines and Spirits market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Luxury Wines and Spirits market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Luxury Wines and Spirits market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Luxury Wines and Spirits market for components from 2022 through 2029
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global Luxury Wines and Spirits market is segmented on the basis of type, price, distribution channel, and geography.
Type: The Luxury Wines and Spirits market is classified into red wine, white wine, whisky, vodka, rum, tequila, and others.
Price: The Luxury Wines and Spirits market is categorized into premium, super-premium, and ultra-premium.
Distribution Channel: The luxury wines and spirits market is fragmented into on-trade and off-trade. On-trade covers sales through restaurants, bars & clubs, hotels & resorts, while off-trade includes all other retail outlets such as supermarkets & hypermarkets.
Geography: The luxury wines and spirits market has been divided into North America (U.S., Canada), Europe (U.K., Germany), Asia Pacific (China), Latin America (Brazil), Middle East & Africa (South Africa).
Global Luxury Wines and Spirits market Competitive Analysis:
Key players in the Global Luxury Wines and Spirits market are 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 and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Luxury Wines and Spirits market is distributed on the basis of the below-mentioned segments:
Global Luxury Wines and Spirits Market, By Type:
- Gin
- Whisky
- Rum
- Vodka
- Brandy
- Tequila
- Natural
- Flavoured
- Wholesale
- Retail Stores
- Department Stores
- Online Retailers
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
Luxury Wines and Spirits MARKET STUDY GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2022-2029
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Segment 1
- 5.2.1. Sub-Segment 1
- 5.2.2. Sub-Segment 2
- 5.3. Market Analysis, Insights and Forecast – By Segment 2
- 5.3.1. Sub-Segment 1
- 5.3.2. Sub-Segment 2
- 5.3.3. Sub-Segment 3
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Segment 3
- 5.4.1. Sub-Segment 1
- 5.4.2. Sub-Segment 2
- 5.4.3. Sub-Segment 3
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Segment 1
- 6.2.1. Sub-Segment 1
- 6.2.2. Sub-Segment 2
- 6.3. Market Analysis, Insights and Forecast – By Segment 2
- 6.3.1. Sub-Segment 1
- 6.3.2. Sub-Segment 2
- 6.3.3. Sub-Segment 3
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Segment 3
- 6.4.1. Sub-Segment 1
- 6.4.2. Sub-Segment 2
- 6.4.3. Sub-Segment 3
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Segment 1
- 7.2.1. Sub-Segment 1
- 7.2.2. Sub-Segment 2
- 7.3. Market Analysis, Insights and Forecast – By Segment 2
- 7.3.1. Sub-Segment 1
- 7.3.2. Sub-Segment 2
- 7.3.3. Sub-Segment 3
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Segment 3
- 7.4.1. Sub-Segment 1
- 7.4.2. Sub-Segment 2
- 7.4.3. Sub-Segment 3
- 7.4.4. Others
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Segment 1
- 8.2.1. Sub-Segment 1
- 8.2.2. Sub-Segment 2
- 8.3. Market Analysis, Insights and Forecast – By Segment 2
- 8.3.1. Sub-Segment 1
- 8.3.2. Sub-Segment 2
- 8.3.3. Sub-Segment 3
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Segment 3
- 8.4.1. Sub-Segment 1
- 8.4.2. Sub-Segment 2
- 8.4.3. Sub-Segment 3
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Segment 1
- 9.2.1. Sub-Segment 1
- 9.2.2. Sub-Segment 2
- 9.3. Market Analysis, Insights and Forecast – By Segment 2
- 9.3.1. Sub-Segment 1
- 9.3.2. Sub-Segment 2
- 9.3.3. Sub-Segment 3
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Segment 3
- 9.4.1. Sub-Segment 1
- 9.4.2. Sub-Segment 2
- 9.4.3. Sub-Segment 3
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Luxury Wines and Spirits Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Segment 1
- 10.2.1. Sub-Segment 1
- 10.2.2. Sub-Segment 2
- 10.3. Market Analysis, Insights and Forecast – By Segment 2
- 10.3.1. Sub-Segment 1
- 10.3.2. Sub-Segment 2
- 10.3.3. Sub-Segment 3
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Segment 3
- 10.4.1. Sub-Segment 1
- 10.4.2. Sub-Segment 2
- 10.4.3. Sub-Segment 3
- 10.4.4. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Company 1
- 11.3.1.1. Business Overview
- 11.3.1.2. Segment 1 & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 11.3.2. Company 2
- 11.3.3. Company 3
- 11.3.4. Company 4
- 11.3.5. Company 5
- 11.3.6. Company 6
- 11.3.7. Company 7
- 11.3.8. Company 8
- 11.3.9. Company 9
- 11.3.10. Company 10
- 11.3.11. Company 11
- 11.3.12. Company 12
- 11.3.1. Company 1
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
