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Luxury Wines and Spirits Market Trends, Industry & Size 2031
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Luxury Wines and Spirits Market Trends, Industry & Size 2031

Segments - Global Luxury Wines and Spirits Market By Types (Wines and Spirits [Gin, Whisky, Rum, Vodka, Brandy, Tequila, and Others]), Sources (Natural and Flavored), Distribution Channels (Online and Offline [Supermarkets/Hypermarkets, Spatiality Stores, Retailers, and Others]), End-users (Household and Commercial [Restaurants, Cafes, Hotels, and Others]), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031

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Author : Debadatta Patel
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Fact-checked by : PARTHA PAUL
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Editor : Shruti Bhat

Upcoming | Report ID :CG-4445 | 4.9 Rating | 70 Reviews | 202 Pages | Format : PDF Excel PPT

Report Description


The global Luxury wines and spirits market size was valued at USD 892.92 Billion in 2022 and is likely to reach USD 1415.18 Billion by 2031, expanding at a CAGR of 5.25% during 2023–2031. Emerging economies, the growing standard of living associated with increasing purchasing power, and the rising number of pubs and bars worldwide are driving the global luxury wines and spirits market.

A luxury wine is an alcoholic drink made from fermented grapes, strawberry, peach, banana, and apple juice as well as flowers including elderflower and dandelion. The juice of fruits is fermented with yeast to create wine in the process. On the other hand, spirits are made by distilling a fermented mash of fruit, vegetables, sugar, and grains.

Luxury Wines and Spirits Market Outlook

The distillation process increases the alcohol volume in spirits which is comparatively less in wine. Although, both wine and spirits contain alcohol some amount of content in them. The main difference between these beverages is their alcohol content. Wine has typically less than which is comparatively less in 15% of alcohol whereas spirits have high alcohol over 30%.

The moderate consumption of alcohol provides various health benefits to the consumers such as reducing the risk of developing heart disease, ischemic stroke, cancer, and diabetes. However, red wine helps in relaxing blood vessels, keeping the heart-healthy, and vodka increases capillary density for delivering more oxygen to the blood.

  • Rising popularity of vintage wines and consumers are becoming more addictive for alcohols, especially the millennial population is boosting the market. 

  • Increasing the use of premium products among consumers to represent as a status symbol is fueling the market. 

  • The growing prevalence of different types of heart diseases and cancers increases the demand for wines and spirits among consumers is driving the market.

  • Stringent rules and regulations imposed by the government on alcoholic drinks are hampering the market.

  • Growing adoption of advanced technologies by the manufacturers for improving the fermentation process is creating opportunities in the market.  

  • The growth in the level of stress and anxiety among working people and changing lifestyles increase demand for wines and spirits across the globe. Thus, creating opportunities for the market.

Scope of Luxury Wines and Spirits Market Report

The report on the global luxury wines and spirits market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Luxury Wines and Spirits Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023–2031

Segmentation

Types (Wines and Spirits [Gin, Whisky, Rum, Vodka, Brandy, Tequila, and Others]), Sources (Natural and Flavored), Distribution Channels (Online and Offline [Supermarkets/Hypermarkets, Spatiality Stores, Retailers, and Others]), End-users (Household and Commercial [Restaurants, Cafes, Hotels, and Others])

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Anheuser-Bush InBev, BACARDI, Brown‑Forman, Cognac Expert, Davide Campari-Milano N.V., Diageo, EDRINGTON, LVMH, Martignetti Companies, Pernod Ricard, tequila clase azul, The Macallan Distillers Limited, and Total Wine & More

Luxury Wines and Spirits Market Segment Insights

Spirits segment to hold significant market share

In terms of types, the global luxury wines and spirits market is segmented into wine and spirits. The spirits segment is further sub-segmented into gin, whisky, rum, vodka, brandy, tequila, and others. The spirits segment held a considerable share of the market in 2020, owing to the growing demand for alcoholic drinks such as rum, beer, vodka, gin, etc.

The rising popularity of cocktail drinks in parties and social gatherings is boosting the market. Moreover, the growing consumption of alcohol by the millennial population is anticipated to propel the segment during the forecast period. However, spirits are highly consumed in Europe as a trend in various sports and other events.

Luxury Wines and Spirits Market Types

Flavored segment to grow at a significant pace in the near future

On the basis of sources, the global luxury wines and spirits market is segregated into natural and flavoured. The flavoured segment is expected to hold a significant share of the market during the forecast period. The flavour liquors have added flavourings such as sugar, glycerine, herbs (mint, parsley, basil, lemongrass, etc.), spices (ginger, cloves, peppercorns, cinnamon, etc.), garlic, and dried dates.

Consumers are becoming more curious about experimenting with different types of alcoholic drinks, which are anticipated to boost the market during the forecast period.

Offline segment to grow in the forecasted period

Based on distribution channels, the luxury wines and spirits market is segregated into online and offline. The offline is further sub-segmented into supermarkets/hypermarkets, spatiality stores, retailers, and others. The offline segment is expected to hold a significant share of the market during the forecast period, due to the availability of a wide range of products at one shop.

The growth in the adoption of wines and spirits by luxury pubs, bars, and retail shops are driving the market. Furthermore, the offline stores are easily accessible to consumers reach which are expected to boost the segment during the forecast period.

Commercial segment to grow during the anticipated period

In terms of end-users, the global luxury wines and spirits market is segmented into household and commercial. The commercial segment is further sub-segmented into restaurants, cafes, hotels, and others. The commercial segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period.

The growing trend of celebrating birthdays, weddings, and parties in cafes, hotels, and restaurants and increasing consumption of alcoholic drinks on these occasions is driving the market. The household segment is anticipated to grow at a significant rate, associated with the increasing use of wine in different types of cuisines. These factors are anticipated to propel the segment during the forecast period.

Luxury Wines and Spirits Market End Users

Europe dominates the global market

On the basis of regions, the global luxury wines and spirits market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020, due to the presence of major manufacturers such as Bacardi, Diageo, and Pernod Richard.

The market in Europe is projected to expand at a significant CAGR during the forecast period, due to changing lifestyles and increasing disposable income. Moreover, the domestic players increase their product portfolio of luxury wines and spirits to fulfil the growing consumer demand, which is boosting the market in Asia Pacific.

Luxury Wines and Spirits Market Region

Segments

By Types

  • Wines
  • Gin
  • Spirits
    • Whisky
    • Rum
    • Vodka
    • Brandy
    • Tequila
    • Others   

By Sources

  • Natural
  • Flavored    

By Distribution Channels

  • Online
  • Offline
    • Supermarkets/Hypermarkets
    • Spatiality Stores
    • Retailers
    • Others

By End-users

  • Household
  • Commercial
    • Restaurants
    • Cafes
    • Hotels
    • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • Anheuser-Bush InBev
  • BACARDI
  • Brown‑Forman
  • Cognac Expert
  • Davide Campari-Milano N.V.
  • Diageo
  • EDRINGTON
  • LVMH
  • Martignetti Companies
  • Pernod Ricard
  • tequila clase azul
  • The Macallan Distillers Limited
  • Total Wine & More

Competitive Landscape

Key players in the global luxury wines and spirits market include Anheuser-Bush InBev, BACARDI, Brown‑Forman, Cognac Expert, Davide Campari-Milano N.V., Diageo, EDRINGTON, LVMH, Martignetti Companies, Pernod Ricard, tequila clase azul, The Macallan Distillers Limited, and Total Wine & More. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Luxury Wines and Spirits Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Luxury Wines and Spirits Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Luxury Wines and Spirits Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Luxury Wines and Spirits Market - Supply Chain
  4.5. Global Luxury Wines and Spirits Market Forecast
     4.5.1. Luxury Wines and Spirits Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Luxury Wines and Spirits Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Luxury Wines and Spirits Market Absolute $ Opportunity
5. Global Luxury Wines and Spirits Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Luxury Wines and Spirits Market Size and Volume Forecast by Types
     5.3.1. Wines
     5.3.2. Gin
     5.3.3. Spirits
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Luxury Wines and Spirits Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Luxury Wines and Spirits Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Luxury Wines and Spirits Demand Share Forecast, 2019-2026
7. North America Luxury Wines and Spirits Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Luxury Wines and Spirits Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Luxury Wines and Spirits Market Size and Volume Forecast by Types
     7.4.1. Wines
     7.4.2. Gin
     7.4.3. Spirits
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Luxury Wines and Spirits Demand Share Forecast, 2019-2026
8. Latin America Luxury Wines and Spirits Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Luxury Wines and Spirits Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Luxury Wines and Spirits Market Size and Volume Forecast by Types
     8.4.1. Wines
     8.4.2. Gin
     8.4.3. Spirits
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Luxury Wines and Spirits Demand Share Forecast, 2019-2026
9. Europe Luxury Wines and Spirits Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Luxury Wines and Spirits Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Luxury Wines and Spirits Market Size and Volume Forecast by Types
     9.4.1. Wines
     9.4.2. Gin
     9.4.3. Spirits
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Luxury Wines and Spirits Demand Share Forecast, 2019-2026
10. Asia Pacific Luxury Wines and Spirits Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Luxury Wines and Spirits Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Luxury Wines and Spirits Market Size and Volume Forecast by Types
     10.4.1. Wines
     10.4.2. Gin
     10.4.3. Spirits
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Luxury Wines and Spirits Demand Share Forecast, 2019-2026
11. Middle East & Africa Luxury Wines and Spirits Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Luxury Wines and Spirits Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Luxury Wines and Spirits Market Size and Volume Forecast by Types
     11.4.1. Wines
     11.4.2. Gin
     11.4.3. Spirits
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Luxury Wines and Spirits Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Luxury Wines and Spirits Market: Market Share Analysis
  12.2. Luxury Wines and Spirits Distributors and Customers
  12.3. Luxury Wines and Spirits Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Anheuser-Bush InBev
     12.4.2. BACARDI
     12.4.3. Brown‑Forman
     12.4.4. Cognac Expert
     12.4.5. Davide Campari-Milano N.V.
     12.4.6. Diageo
     12.4.7. EDRINGTON
     12.4.8. LVMH

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