Global Luxury Wines and Spirits Market Size study & Forecast, by Type (Wines/Champagnes, Spirits), by Distribution Channel (Wholesale, Retail, E-Commerce, Others) and Regional Analysis, 2023-2030

Global Luxury Wines and Spirits Market Size study & Forecast, by Type (Wines/Champagnes, Spirits), by Distribution Channel (Wholesale, Retail, E-Commerce, Others) and Regional Analysis, 2023-2030

Global Luxury Wines and Spirits Market is valued at approximately USD 243.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2023-2030. The luxury wines and spirits market comprise high-quality alcoholic beverages with alcohol by volume (ABV) ranging from 3 to 40%. These premium-priced products, including wines and distilled spirits, are typically consumed during special occasions such as weddings, parties, and social gatherings. Government regulations in most countries restrict their consumption to individuals aged 17 and above. Moreover, these beverages are gaining popularity among middle-aged consumers, specifically those between the ages of 35 and 55. The global luxury wines and spirits industry is propelled by the increasing demand for premium and distinctive products. Consumers' growing interest in high-quality and unique goods drives the market for luxury wines and spirits.

The growth in the luxury wines and spirits market revenue is driven by the rising number of high-net-worth individuals. According to a report by Oxfam in 2022, As per the Federal Statistical Office, in 2019, disposable personal income in Germany accounted for USD 516.23 billion (EUR 504.54 billion) and the amount increases and reach to USD 544.47 billion (EUR 532.14 billion) in the year 2022. Also, according to The World Bank, in Mexico, the GDP per capita was estimated to be account for USD 8,774.5 in 2016. Also, it is constantly growing and reached USD 9,926.4 by the year 2021. Throughout the forecast period, the luxury wines, and spirits market are expected to witness significant growth driven by several key factors. These include the increasing number of bars and pubs, the trend of premiumization within the wines and spirits industry, and the rising living standards of consumers. However, the luxury wines and spirits market also faces certain restraints that can impede its growth. These include strict government regulations on alcohol consumption and distribution, which can limit market expansion. Additionally, high import and excise duties on luxury wines and spirits can increase product costs, making them less affordable for certain consumer segments.

The key regions considered for the Global Luxury Wines and Spirits Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market and is also expected to grow significantly during the forecast period 2023-2030. As the European market for luxury wines and spirits is well-established and relatively uniform, with a high level of market penetration. Leading key players such as Campari, Bacardi, Pernod Richard, and Diageo dominate the market. The demand for luxury wines and spirits in Europe is bolstered by evolving lifestyles, driven by a significant increase in disposable income among consumers. Whereas, Asia Pacific is estimated to grow at the highest CAGR owing to the growth of the hospitality sector, increasing population, and increasing number of bars, pubs, and hotels.

Major market players included in this report are:
Diageo plc.
HITEJINRO Co., Ltd.
Suntory Holdings Limited
Davide Campari-Milano N.V.
Brown-Forman Corporation
Pernod Ricard
LVMH
Thai Beverage Pubilc Company Limited
Bayadera Group
Bacardi Limited

Recent Developments in the Market:
 In January 2023, Diageo plc. recently made an announcement regarding the acquisition of Don Papa Rum, a super-premium dark rum from the Philippines. This strategic move aims to enhance and diversify Diageo's portfolio, providing a complementary addition to its existing range of rums.
 In November 2022, Diageo plc. successfully completed the acquisition of Balcones Distilling, a renowned super premium whisky distiller based in Texas, USA. This acquisition is a strategic step taken by Diageo to expand its portfolio and strengthen its presence in the whisky market.

Global Luxury Wines and Spirits Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Wines/Champagnes
Spirits

By Distribution Channel:
Wholesale
Retail
E-Commerce
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
Diageo plc.
HITEJINRO Co., Ltd.
Suntory Holdings Limited
Davide Campari-Milano N.V.
Brown-Forman Corporation
Pernod Ricard
LVMH
Thai Beverage Pubilc Company Limited
Bayadera Group
Bacardi Limited

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.