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Luxury Wines and Spirits Market Size, Share & Forecast

The global luxury wines and spirits market size was valued at $970 billion in 2019, and is anticipated to reach $1411 billion by 2027, with a CAGR of 4.9% during the forecast period.

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Luxury Wines and Spirits Market Size, Share & Forecast

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  1. Luxury Wines and Spirits Market Expected to Reach $1,411 billion by 2027 | CAGR 4.9% Global Opportunity Analysis and Industry Forecast, 2020–2027

  2. Luxury Wines and Spirits Market Overview, 2027 • The global luxury wines and spirits market size 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. • Luxury wine is one of the most popular alcoholic drinks preferred by consumers due to its aroma, taste, quality, and reasonable pricing. Furthermore, global developments, triggered by megatrends such as urbanization, increasing disposable income, and rapidly aging population indirectly creates demand for luxury wine and spirits, which, in turn, supports the growth of the number of wineries.  • The fast pace of global urbanization has resulted in an increased demand for luxury goods and services, especially in developing economies like LAMEA and Asia-Pacific. As these goods are considered as status symbols, they are increasingly being adopted in these countries, thus providing attractive luxury wines and spirits market opportunity to manufacturers to distribute and sell their products in these locations. Furthermore, international events like film festivals, art exhibitions, auctions, and award shows have increased the demand for wines and spirits at such social gatherings, which in turn, augments the luxury wines and spirits market growth. • Download Sample Report:

  3. Luxury Wines and Spirits Market • increase in demand for premium quality luxury goods and rise in disposable income & rapid urbanization are the driving factors the luxury wines and spirits market growth. Moreover, consumer, mainly millennials are more health conscious and they are willing to try new, healthier, alternatives to traditional soft drinks. Thus, this factor is likely to surge in the growth in popularity of cocktails drinks. • According to the luxury wines and spirits market analysis, the market is segmented on the basis of type, distribution channel, and region. By type, it is categorized into wines/champagne and spirits. The spirit segment held the major share in the market in 2019. Growth in consumption of wine has led producers to expand their product portfolio to meet local taste and adjust their packaging designs to appeal to the local market. This, in turn, provides opportunities for key players in the market. 

  4. Key Market Players The major players in the luxury wines and spirits market are investing in R&D to enhance the quality of wine and spirits and gain competitive advantage over other players in the market. However, stringent government policies about advertisements and distribution of wines and spirits hamper the market growth. • PERNOD RICARD • DIAGEO • BACARDI • BROWN-FORMAN • THAIBEV • DAVIDE CAMPARI-MILANO S.P.A. • HITEJINRO CO.LTD • SUNTORY HOLDINGS LIMITED • EDRINGTON • LVMH MOËT HENNESSY - LOUIS VUITTON

  5. Key benefits for stakeholders   • The global luxury wines and spirits industry was valued at $970 billion in 2019, and is anticipated to reach $1411 billion by 2027, with a CAGR of 4.9% during the forecast period.   • By type, the spirits segment is estimated to witness the fastest growth, registering a CAGR of 4.8% during the forecast period.    • In 2019, by distribution channel, the retail segment held the highest share, accounting for 41.44% of the global luxury wines and spirits market share.     • In 2019, Europe was the most prominent market, and is expected to grow at a significant CAGR of 4.50% throughout the luxury wines and spirits market forecast period. 

  6. Key Market Segments By Type By Distribution Channel Wholesale Retail E-Commerce Others • Wines/Champagnes • Spirits

  7. By Region • North America • U.S. • Canada • Mexico • Europe • Germany • France • UK • Italy • Spain • Rest of Europe • Asia-Pacific • China • Japan • India • Australia • Rest of Asia-Pacific • LAMEA • Latin America • Middle East • Africa

  8. FREQUENTLY ASKED QUESTIONS? • Q1. What is the growth rate of the Luxury Wines and Spirits Market during the forecast period? • Q2. How much will the Luxury Wines and Spirits Market be worth in the future? • Q3. At what CAGR is the Luxury Wines and Spirits Market projected to grow in the forecast period (2020-2027)? • Q4. Which is base year calculated in the Luxury Wines and Spirits Market report? • Q5. Which are the top companies hold the market share in Luxury Wines and Spirits Market? • Q6. Which is the most influencing segment growing in the Luxury Wines and Spirits Market report? • Q7. What are the key trends in the Luxury Wines and Spirits Market report?

  9. Contact Us • David Correa • 5933 NE Win Sivers Drive • #205, Portland, OR 97220 • United States • Toll Free: 1-800-792-5285 • UK: +44-845-528-1300 • Hong Kong: +852-301-84916 • India (Pune): +91-20-66346060 • Fax: +1-855-550-5975 • help@alliedmarketresearch.com • Web: https://www.alliedmarketresearch.com

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