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Luxury Wines and Spirits Market: Revenue Making Strategies of leading players like Diageo, Pernod Ricard, Bacardi, Brown- Forman, ThaiBev, Campari, United Spirits, HiteJinro, Beam Suntory Inc., and Edrington Group

02-08-2019 04:25 PM CET | Health & Medicine

Press release from: Allied Market Research

Luxury Wines and Spirits Market: Revenue Making Strategies

The global luxury wines and spirits market is a premium consumer goods market that is concentrated on consumers focused on quality than pricing. The products offered in this market are high quality fermented wines and distilled spirits such as rum, vodka, and brandy.

The consumption of luxury wines and spirits has seen a significant growth in the past few years. Further the use of technology has enabled to select the finest quality of raw materials for fermentation process to yield quality wines for aging process and consumption. Besides, with increasing disposable income globally and premium pricing of the products has provided huge profit opportunities for the manufactures of the market.

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The wines segment is expected to grow at a faster rate during the forecast period, as the market currently offers alcoholic drinks such as vodka, gin, rum, and brandy and has more alcohol by volume (ABV) than other alcoholic beverages. The market has seen a significant growth, owing to increase in popularity of cocktail drinks. Moreover, they are being preferred over beers and other alcoholic beverages due to growing popularity of cognac and tequila. However, there is a decline in the growth of rum and vodka.

LUXURY WINES AND SPIRITS MARKET KEY SEGMENTS:
BY PRODUCT TYPE
• Wines
• Spirits

BY DISTRIBUTION CHANNEL
• Wholesale
• Retail
• E-Commerce

BY GEOGRAPHY
• North America
o U.S.
o Canada
o Mexico

• Europe
o Germany
o France
o UK
o Italy
o Rest of Europe

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific

• LAMEA
o Latin America
o Middle-East
o Africa

Key findings of Luxury Wines and Spirits Market
• The spirits segment occupied the highest share in 2015, and is estimated to grow at a CAGR of 4.2% in terms of value during the forecast period.
• Japan is the leading consumer of luxury wines & spirits accounted for approximately 24% of the Asia-Pacific market, followed by China.
• The wines segment is estimated to expand with the highest CAGR of 4.4% in the product type segment in terms of value during the forecast period.
• The European region accounted for more than two-fifths of the global luxury wines & spirits market in 2015.
• U.S. is the leading market for luxury wines & spirits in the North American region, growing at a CAGR of 4.9% in terms of value during the forecast period.

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The European luxury wines and spirits market is largest among all other geographical regions. Furthermore, the consumption of alcoholic beverages at various social gatherings such as parties, marriages is more and provides profitable opportunities for the manufacturers. Moreover, with growing popularity of sports such as football and tennis, where audiences are often seen consuming alcoholic beverages is further expected to grow this market in the near future.

The key market players adopted diverse strategies such as product launch, expansion, acquisition, joint venture, partnership, and investment to gain competitive advantage in this market. The prominent players profiled in this report include Diageo, Pernod Ricard, Bacardi, Brown- Forman, ThaiBev, Campari, United Spirits, HiteJinro, Beam Suntory Inc., and Edrington Group.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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