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Luxury Wines and Spirits Market by Distribution Channel (Wholesale, Retail, and E-commerce) Expected to Register High Revenue Growth 2017

Tuesday, February 28, 2017 2:44
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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. 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.

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Global Luxury Wines and Spirits Market is segmented as:



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