Luxury Wine & Spirit Market Size, Industry Analysis Report, Regional Outlook
Use of technologies for improving fermentation process and aging process will provide consumers better experience. Premium pricing of products has improved profit margins of manufacturers. Rise in number of bars and pubs in urban areas are attracting young generation and attributed to propel luxury wine & spirit market growth.
Ask for Table of Content of this report @
There has been increase in health awareness regarding wines and institutes namely American Heart Association (AHA) has come up with its benefits for heart. AHA has stated that consuming them lowers the mortality rate by around 34%. Manufacturers have come up with variants including red and white that has given customers options to choose from. Its intake has spurred in social gatherings including parties and art exhibitions that have given positive outlook to luxury wine & spirit market.
These are alcoholic beverages made from various raw materials namely grapes, cherry and plums. These are fermented without adding any foreign ingredients and lead to formation of yeast that consumes sugar content of raw materials and converts it into ethanol and carbon dioxide. These are being consumed from ancient times and have its roots in ancient Greek and Egypt. Their variants depend on its constituents and time of fermentation.
Major restraint for luxury wine & spirit market is stringent government regulations for its sale in some part of the world. Its excess intake may lead to heart disease, diabetes, stroke and high blood pressure. Forgery, manipulation, adulteration and incidents of fraud in products have affected its sale and demand. Further, shifting of people from alcoholic beverages towards non-alcoholic may pose as a challenge in forecast period.
Based on products, luxury wine & spirit market is classified as wine and spirits. Wines accounts for major share owing to larger consumer base and low alcohol by volume content as compared to others. These are further divided into red, white, rose, fruit, starch based and honey. Among them red and white have major with easy availability and higher popularity.
Spirit has moderate share and is anticipated to register substantial growth during forecast period and classified into gin, whisky, rum, vodka, brandy, tequila, natural and flavoured. Vodka and whisky have significant categories and will grow due to growing popularity of cocktail drinks at social gatherings. Cognac and tequila are gaining popularity with growing pub culture and in turn will positively drive luxury wine & spirit market.
Based on distribution channel, luxury wine & spirit market is classified into wholesale, retail stores, department stores and online retailers. Whole sale have substantial share as both urban and semi urban population prefer them due to ease in availability and better comparison between products. There has been considerable increase in number of whole sale stores commercial spaces including shopping malls.
Retail stores have significant share and will witness extensive growth with increase in local demand. Online stores or E-commerce are new to this category and rise in online platforms, discount offers and easy delivery will propel luxury wine & spirit market growth.
Europe has substantial share in global luxury wine & spirit market with presence of Italy, France and Spain as largest producers in the world. In UK, more than 40% of youngsters (17-25 years) age and over 65% of adult population (25-45 years) consume alcoholic drinks that support its growth. North America has moderate share with present culture of serving drinks with meals.
Asia Pacific accounts for significant share in luxury wine & spirit market and expected to show substantial growth with large number of whisky and rum consumers. Further, presence of key manufacturers namely ThaiBev and HiteJinro strengthens its contribution. Middle East & Africa and Latin America have nascent share and shall grow with rise in public spending and growing foreign tourism.
Luxury wine & spirit market is moderately fragmented with large presence of mutlinational and regional players. Prominent players include Pernod Ricard, Brown Forman, Diageo, Bacardi, United Spirits, ThaiBev, Campari, Edrington Group, Bayadera Group, LMVH, William Grant & Sons, HiteJinro and Beam Suntory.
Companies are employing mergers and acquisition strategy to enhance their market penetration. In June 2016, Brown Forman acquired BenRiach Distillery Company, a well-recognized brand for malt whisky for consistent growth in whisky section.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Connect with us: Facebook | Google+ | LinkedIn | Twitter
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Luxury Wine & Spirit Market Size, Industry Analysis Report, Regional Outlook here
News-ID: 860028 • Views: 305
More Releases from gminsights
Vitamin E Market size worth over $2.4bn by 2024
Vitamin E Market size is expected to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights, Inc. Increased consumer affordability coupled with rising health concerns should drive global vitamin E market size. Rising applications scope in pharmaceutical industry for treating Alzheimer's infection, diabetes, night cramps, Parkinson's disease, epilepsy, traumatic brain injury, multiple sclerosis, cerebral palsy and Huntington's disease, is evaluated to fuel industry
Prebiotics Market worth over $8.5 Bn by 2024
Prebiotics Market size is set to exceed USD 8.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Global prebiotics market size may witness consumption of over 1.35 million tons by 2024. Rise in consumer awareness regarding healthy diet consumption leads to increase in food & feed ingredients demand which have a positive influence for growth in dietary supplement market size. They are indigestible dietary
Bio Vanillin Market size worth over $19mn by 2023
Bio Vanillin Market size is expected to surpass USD 19 million by 2023; according to a new research report by Global Market Insights, Inc. Increasing consumer preference towards natural ingredients in food & beverage and personal care formulations will drive global bio vanillin market demand. Natural ingredients have been steadily gaining acceptance with consumers, especially across evolved markets, along with regulatory support for labeling standards. Bio vanillin has been developed
Organic Ice Cream Market to hit $1.2bn by 2024: Global Market Insights Inc.
Organic Ice Cream Market size is estimated to hit USD 1.2 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing consumer preference for nutrient rich ice cream due to rising prevalence for healthy lifestyle will drive organic ice cream market size. Presence of naturally processed sweeteners and preservatives will remain key factors stimulating product demand. Rising product adoption for preparing smoothies, sorbets, and shakes
More Releases for Spirit
Spirit of giving on a budget
Now that Black Friday and Cyber Monday are behind us, shoppers could be thinking that the best deals are in the past. However, savings season is still going strong with lots of stores pushing hard with their discounts to lure last minute shoppers still looking for their presents this holiday season. You can finish your shopping with strong discounts. Sale promotion manager Andrew from CouponMeUp.com says, “Shoppers working their
Leaving Spirit - Debut Album "Things Change"
After more than 1.5 years of production, the time has finally come: On August 2, 2019, the debut album "Things Change" by the young german blues and southern rock band "Leaving Spirit" will be released on all digital platforms and on CD. On average, the boys and girls are younger than 20, but nevertheless they count artists like Neil Young, Eagles and Robert Johnson among their biggest influences. But it's
Creating a “Team Spirit” in Your Organisation
It is a generally accepted fact that projects, when done by a group of people, yield better results and require much lesser time to execute. While some types of work do not require you to interact with many people, possessing a team spirit nowadays is considered to be one of the essential skills that every candidate must have. Teamwork is essential to the success of your business Teamwork is essential to the success
Global Spirit Market to 2021
MarketResearchReports.Biz presents this most up-to-date research on "Global Spirit Market to 2021" Description This publication enables readers the critical perspectives to be able to evaluate the world market for spirits. The publication provides the market size, growth and forecasts at the global level as well as for the following countries: Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Bolivia, Bulgaria, Cameroon, Canada, China, Colombia, Cyprus, Czech Republic, Ecuador, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany,
KO DISTILLING ANNOUNCES FIRST ‘BROWN’ SPIRIT
KO Distilling is releasing their first-ever brown spirit, Bare Knuckle American Wheat Whiskey, just in time for Black Friday. Containing a high wheat and no corn mash bill of 60% wheat, 30% rye and 10% malted barley, all from Bay’s Best Feed Farm in Heathsville, VA, Bare Knuckle has been aged for a year in full-size 53-gallon new charred American Oak barrels. KO Distilling will unveil Bare Knuckle American Wheat Whiskey
The Illanelli Poltergeist Haunting - Spirit Rescue International
A series of online videos, which have received exposure through YouTube, show an "entity investigation" taking place at a Llanelli, Wales home. Whistles, chirps and whispered words in Welsh and English are clearly audible in the video. As well, large and smaller objects have moved about in the living room and kitchen As things have continued to go bump in the night, the terrified occupants of the Llanelli house — a