Impact of COVID-19 Outbreak on Luxury Wine Industry Analysis, Trends and Opportunities 2020 - 2027


Posted June 7, 2021 by Vaibhavwa_mrfr21

MarketResearchFuture Presents “Luxury Wine Industry Research Report –Global Forecast to 2027” New Document to its Studies Database
 
Market Highlights

Market Research Future (MRFR) assessed the global Luxury Wine Industry 2020 across the review period 2018-2023. By 2023, the Luxury Wine Industry can expand at 5.22% CAGR through the review period from 2018 to 2023. By 2023, the luxury wines and spirits market can secure about USD 93,550.0 Mn, reveals MRFR study. The increase in number of potential buyers can favor the expansion of the Luxury Wine Industry through the review period. The expansion of tourism sector and hike in luxury are some other major factors that can support the expansion of the market. The high consumption of luxury wines and spirits across the world in luxury aircrafts, hotels, and ships can promote the expansion of the market through the analysis period. The growing popularity of luxury wines and spirits remain among niche consumers, along with shift in consumer preference towards alcoholic beverages can favor the market through the analysis period.

Competitive Landscape

Diageo PLC, LVMH Moet Hennessy Louis Vuitton S.E, Bacardi & Company Limited, The Edrington Group Limited, Thai Beverage PLC, Beam Suntory Inc., Pernod Ricard SA, William Grant & Sons Limited, Brown-Forman Corporation, Campari-Milano S.p.A, Hitejinro Co., Ltd., and Bayadera Group are some prominent names in the Luxury Wine Industry that are listed by MRFR.

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Market Segmentation

The segment study for the global Luxury Wine Industry is done by type, distribution, and channel.

The type-based segments of the global Luxury Wine Industry are whiskey, wine, rum, vodka, brandy, tequila, and gin among others.

The distribution channel-based segments of the Luxury Wine Industry has been segmented into food retail and food service.

Regional Segmentation

Trends and factors that can support the global Luxury Wine Industry is analysed across Europe, North America, APAC, and the Rest of the World (RoW). In APAC, the regionally Luxury Wine Industry can secure about 39.07% share of the global market. India and Japan are known for the presence of reputed investors that can contribute largely to rise of APAC luxury wines& spirits market. In addition, the rising count of small boutique wineries and delivery of enhanced quality of wine can favor the market expansion. India, Hong Kong, Singapore, and Australia are other regions that are expected to support the expansion of the market across the analysis period. Hike in per capita income, rising interest in luxury indulgences, and exposure to western culture can favor the expansion of the APAC market across the analysis period.

In Europe, the worldwide Luxury Wine Industry is expected to secure about 26.50% share of the worldwide market. The U.K., France, and Germany are other regions that are expected to promote the expansion of the regional market. In Europe, the luxury wines and spirits market expansion can be credited to favorable economic conditions, affordability, and growing demand for the product.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Country India
Categories Business , Food
Tags luxury wine industry analysis
Last Updated June 7, 2021