Luxury Alcohol Market

Market Insights

The luxury alcohol market – which can be divided into the market for luxury wines and luxury spirits – is expected to see consistent and continued growth. The demand for luxury alcohol has transformed not just into the need for the drink itself but rather for a certain kind of lifestyle that comes along with it. In addition, luxury alcohol distinguishes a person from other social classes and affords them a certain level of status and celebrity.

The demand for wine among consumers is expected to be very high because of its increasing popularity. The taste, aroma, quality, and pricing of wine all account for its popularity. As for spirits, the demand is consistently high and may witness the fastest growth during the next forecast period.

Following the surge of the Covid-19 pandemic, the demand for luxury alcohol increased. While at home and in lockdown, the interest in cocktails, wine, and mixology went up. A change in people’s philosophy and attitude towards life led to the idea that life is fleeting and should be enjoyed while it can be. How better to enjoy life than with a luxury wine or spirit?

The global Luxury Alcohol market was valued at around USD 773 billion in 2020, with a decline of over 14% owing to COVID 19 pandemic and its subsequence. However, the demand has been recovering rapidly, and in the light of rapid vaccination around the world, it’s expected to restore to per COVID 19 level soon. The global Luxury Alcohol market is projected to become a trillion-dollar industry in 2022.

Interesting Facts about Luxury Alcohol Industry

• Taken in moderate quantity, Alcohol has proved to be beneficial in protecting against heart diseases
• S. alone reported over 88 K deaths due to health issues caused by alcohol consumption per annum
• The global average per capita consumption of Alcohol is around 6.5 litter
• Over 85% population of the U.S. have had Alcohol at least once in their lifetime
• China reported per capita consumption of Alcohol among people who drink reached over 15 liters per annum

Growing Per Capita Consumption

The driving factors in the luxury alcohol market are significant. The first and foremost factor for almost any luxury market is the general rise in per capita disposable incomes worldwide. There is also a rise in the number of high net worth individuals and a growing elite class of people. This means that there is more money to be spent on luxury goods like Alcohol.

Alcohol has typically been marketed towards a population aged between 35 and 60. With a globally aging population, the target market is growing in size and wealth because of higher disposable incomes. This is a huge cause of the rise in demand for luxury alcohol.

Increasing Desire for Luxury Lifestyle

Another driving factor in the luxury alcohol market is the growth of the luxury travel industry, the luxury hotel industry, and the luxury restaurant industry. As consumers’ lifestyles have increased, all of these demands become interlinked and feed one another. There is also a rise in the scale of celebrations. Weddings, parties, and international events have become grander and grander and led to the rise in demand for luxury alcohol.

One last factor to consider is the development of regions like Asia-Pacific and LAMEA. Fast-paced global urbanization and a rise in the tourism and vacation industry have meant that previously untapped geographical areas are now opening up.

Heavy Duties Imposed by Government to Arrest the Growth Rate

The biggest restraint to the luxury alcohol market is the addictive nature of Alcohol. Because many people suffer from alcohol addiction, the sale and distribution of the products are highly regulated. Many governments also impose huge tax duties, making importing the product to their countries challenging. Secondly, Alcohol is also age-restricted, and in most places, it is illegal for anyone under the age of 17 to consume Alcohol, greatly reducing the target market size.

Spirits to Rule the Demand

Wines/Champagnes and Spirits are major types of luxury alcohol. Spirits dominated the luxury alcohol industry with the most significant chunk of total revenue generation in 2020. Vodka, Rum, and Gin are some of the most popular types of spirits consumed by people and are highly popular across the world. While Wines/Champagnes are growing in popularity and likely to gain increased traction over the forecast period.

Online Distribution is Expected Grow in its Share over the Forecast Period

Wholesale, Retail, E-Commerce, and Others are some of the important distribution channels for luxury alcohol. Although retailers dominate the distribution channels, online distribution is expected to increase its market share with a rapid growth rate over the forecast period.

Some important players operating in the global luxury alcohol industry include but are not limited to Diageo, Pernod Ricard Bacardi, Brown-Forman, Thai Beverage Public Company Limited, and Davide Campari-Milano S.p.A, Hitejinro Co.Ltd, Suntory Holdings Limited, Edrington, and LVMH Moët Hennessy – Louis Vuitton.

1.Preface
1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary
2.1.Market Snapshot: Global Luxury Alcohol Market

3.Market Dynamics & Factors Analysis
3.1.Introduction
3.1.1. Global Luxury Alcohol Market Value, 2015-2027, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Type
3.3.2.Distribution Channel
3.3.3.End-user
3.3.4.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2020
4.1.Company market share of key players, 2020
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis
5.1.Global Luxury Alcohol Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America
6.1.North America Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
6.2.1.Overview
6.2.2.Wines/Champagnes
6.2.3.Spirits
6.3.North America Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
6.3.1.Overview
6.3.2.Wholesale
6.3.3.Retail Stores
6.3.4.Online
6.3.5.Others

7.Europe
7.1.Europe Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
7.2.1.Overview
7.2.2.Wines/Champagnes
7.2.3.Spirits
7.3.Europe Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
7.3.1.Overview
7.3.2.Wholesale
7.3.3.Retail Stores
7.3.4.Online
7.3.5.Others

8.Asia Pacific
8.1.Asia Pacific Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
8.2.1.Overview
8.2.2.Wines/Champagnes
8.2.3.Spirits
8.3.Asia Pacific Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
8.3.1.Overview
8.3.2.Wholesale
8.3.3.Retail Stores
8.3.4.Online
8.3.5.Others

9.Latin America
9.1.Latin America Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
9.2.1.Overview
9.2.2.Wines/Champagnes
9.2.3.Spirits
9.3.Latin America Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
9.3.1.Overview
9.3.2.Wholesale
9.3.3.Retail Stores
9.3.4.Online
9.3.5.Others

10.Middle East
10.1.Middle East Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
10.2.1.Overview
10.2.2.Wines/Champagnes
10.2.3.Spirits
10.3.Middle East Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
10.3.1.Overview
10.3.2.Wholesale
10.3.3.Retail Stores
10.3.4.Online
10.3.5.Others

11.Africa
11.1.Africa Luxury Alcohol Market, by Country, 2015-2027(US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Luxury Alcohol Market, by End-user, 2015-2027(US$ Bn)
11.2.1.Overview
11.2.2.Wines/Champagnes
11.2.3.Spirits
11.3.Africa Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
11.3.1.Overview
11.3.2.Wholesale
11.3.3.Retail Stores
11.3.4.Online
11.3.5.Others

12.Global
12.1.Global Luxury Alcohol Market, by Type, 2015-2027(US$ Bn)
12.1.1.Overview
12.1.2.Wines/Champagnes
12.1.3.Spirits
12.2.Global Luxury Alcohol Market, by Distribution Channel, 2015-2027(US$ Bn)
12.2.1.Overview
12.2.2.Wholesale
12.2.3.Retail Stores
12.2.4.Online
12.2.5.Others

13.Company Profiles
13.1.Diageo
13.2.Pernod Ricard Bacardi
13.3.Brown-Forman
13.4.Thai Beverage Public Limited Company
13.5.Davide Campari-Milano S.p.A
13.6.Edrington
13.7.Suntory Holdings Limited
13.8.Hitejinro Co.Ltd.
13.9.United Spirits
13.10.LMVH
13.11.Others

List of Figures

FIG. 1 Global Luxury Alcohol Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 Global Luxury Alcohol Market Segmentation

FIG. 4 Global Luxury Alcohol Market, by Type, 2019 (US$ Bn)

FIG. 5 Global Luxury Alcohol Market, by Distribution Channel, 2019 (US$ Bn)

FIG. 6 Global Luxury Alcohol Market, by Geography, 2019 (US$ Bn)

FIG. 7 Attractive Investment Proposition, by Geography, 2019

FIG. 8 Global Market Positioning of Key Luxury Alcohol Market Manufacturers, 2019

FIG. 9 Global Luxury Alcohol Market Value Contribution, By Type, 2020 & 2027 (Value %)

FIG. 10 Global Luxury Alcohol Market, by Wines/Champagnes, Value, 2015-2027 (US$ Bn)

FIG. 11 Global Luxury Alcohol Market, by Spirits, Value, 2015-2027 (US$ Bn)

FIG. 12 Global Luxury Alcohol Market Value Contribution, By Distribution Channel, 2020 & 2027 (Value %)

FIG. 13 Global Luxury Alcohol Market, by Wholesale, Value, 2015-2027 (US$ Bn)

FIG. 14 Global Luxury Alcohol Market, by Retail Stores, Value, 2015-2027 (US$ Bn)

FIG. 15 Global Luxury Alcohol Market, by Online, Value, 2015-2027 (US$ Bn)

FIG. 16 U.S. Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 17 Rest of North America Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 18 U.K. Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 19 Germany Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 20 France Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 21 Italy Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 22 Spain Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 23 Russia Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 24 BENELUX Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 25 Poland Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 26 Austria Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 27 Rest of Europe Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 28 Japan Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 29 China Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 30 India Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 31 South Korea Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 32 Australia Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 33 Southeast Asia Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 34 Rest of Asia Pacific Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 35 Middle East & Africa Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 36 South Africa Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 37 Nigeria Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 38 Egypt Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 39 GCC Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 40 Israel Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 41 Latin America Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 42 Mechanicalzil Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 43 Argentina Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 44 Colombia Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 45 Peru Luxury Alcohol Market, 2015-2027 (US$ Bn)

FIG. 46 Chile Luxury Alcohol Market, 2015-2027 (US$ Bn)

List of  Table

TABLE 1 Market Snapshot: Global Beauty Devices   (Luxury Alcohol) Market

TABLE 2 Global Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 3 Global Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 4 Global Luxury Alcohol Market, by Geography, 2015-2027 (US$ Bn)

TABLE 5 North America Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 6 North America Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 7 North America Luxury Alcohol Market, by Country, 2015-2027 (US$ Bn)

TABLE 8 Europe Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 9 Europe Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 10 Europe Luxury Alcohol Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 11 Asia Pacific Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 12 Asia Pacific Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 13 Asia Pacific Luxury Alcohol Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 14 Latin America Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 15 Latin America Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 16 Latin America Luxury Alcohol Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 17 Middle East Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 18 Middle East Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 19 Middle East Luxury Alcohol Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 20 Africa Luxury Alcohol Market, by Type, 2015-2027 (US$ Bn)

TABLE 21 Africa Luxury Alcohol Market, by Distribution Channel, 2015-2027 (US$ Bn)

TABLE 22 Africa Luxury Alcohol Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 23 Diageo: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 24 Pernod Ricard Bacardi: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 25 Brown-Forman: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 26 Thai Beverage Public Limited Company: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 27 Davide Campari-Milano S.p.A: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 28 Edrington: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 29 Suntory Holdings Limited: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 30 Hitejinro Co.Ltd.: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 31 United Spirits: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments

TABLE 32 LMVH: Company Snapshot (Company Overview; Type Portfolio; Financial Information; Key Developments