U.S (New York)– The “Luxury Wines and Spirits Market” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Bahrain Alcoholic Beverages Market, its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
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. Spirits segment dominated the global market in 2015, whereas the wines segment is projected to register the highest growth during the forecast period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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.
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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KEY MARKET BENEFITS:
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
The companies profiled in the report include:
Diageo
Pernod Ricard
Bacardi
Brown-Forman
ThaiBev
Campari
United Spirits
HiteJinro
Beam Suntory Inc.
Edrington Group
Other key players in the value chain include
Mast Jagermeister
Remy Cointreau
Moet Hennessy
William Grant & Sons
KEY MARKET SEGMENTS:
Global Luxury Wines and Spirits Market is segmented as:
BY PRODUCT TYPE
Wines
Spirits
BY DISTRIBUTION CHANNEL
Wholesale
Retail
E-Commerce
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle-East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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