The luxury wines and spirits market constitutes of distilled spirits such as vodka, rum, and brandy. Wines include champagne, red wines, and wines from different fruits.As these goods are considered as luxury goods, they have the elasticity of demand greater than one. Thus, their demand increases more than the increase in income of the consumers.
Big Market Research added a report on “Luxury Wines and Spirits Market By Product Type (Wines, Spirits, And Others), By Distribution Channel (Wholesale, Retail, And E-Commerce) - Global Opportunity Analysis And Industry Forecast, 2014-2022”Its market can be segmented based on by type, by distribution channel, and by geography.
The global luxury wines and spirits market is estimated to reach $11,22,578 million by 2022 compared to $8,12,108 million in 2015, growing at a CAGR of 4.8% during the forecast period. The rise in disposable income in the emerging economies due to rapid industrialization, and increase in the demand for premium-quality luxury goods also support the market growth.
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Spirits segment dominated the global market in 2015, whereas the wines segment is projected to register the highest growth during the forecast period.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe dominated the market in 2015, and is anticipated to maintain this trend during the forecast period, due to the consumption of alcoholic beverages at various social gatherings is expected to provide profitable opportunities for the manufacturers.
Moreover, with growing popularity of sports event such as football and tennis, where audiences are often seen consuming alcoholic beverages is further expected to grow the market in the near future.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global luxury wines and spirits market to elucidate the prevailing opportunities and the probable investment pockets
- It provides qualitative trends as well as quantitative analysis from 2014 to 2022 to assist the stakeholder to understand the market scenario
- In-depth analysis of the key segments demonstrates the consumption of luxury wines and spirits in different product type across various regions
- Competitive intelligence highlights the business practices followed by key business players across the geographies as well as the prevailing market opportunities
- Key players are profiled along with the strategies and developments, which portrays the competitive market outlook
KEY MARKET SEGMENTATION
BY PRODUCT TYPE
BY DISTRIBUTION CHANNEL
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