Europe Luxury Wines and Spirits Market

Europe Luxury Wines and Spirits Market (2024 to 2029)

Europe Luxury Wines and Spirits Market is expected to be at USD 373.58 billion in 2024 and is anticipated to extent an over of USD 456.68 billion by 2029, growing with a CAGR of 4.09% from 2024 to 2029.

Luxury wines and spirits are a type of alcoholic beverage that contains 3-40% alcohol by volume. It is a high-end consumer product that focuses more on quality than price. These products are distilled spirits such as brandy, vodka, and rum, and high-quality fermented wines. They are usually consumed during events of great importance such as social gatherings, parties, birthdays, celebrations, and personal moments.

The growing disposable income of people around the world is significantly boosting the purchasing power of consumers, which will significantly drive the growth of the global luxury wine and spirits market during the forecast period. These products have an exceptional quality of raw material that satisfies customers' satisfaction and considerably accelerates their demand. Manufacturers adopt advanced technologies to improve the aging and fermentation process to provide a better experience for customers. Additionally, the premium pricing methodology for these products has significantly improved overall sales and manufacturers' profit margins. The increase in the number of pubs and bars in metropolitan areas to attract high-end customers and the younger generation is also increasing the demand for luxury wines and spirits. The emergence of different commercial distribution platforms and channels is likely to drive the growth of the global luxury wine and spirits market during the forecast period. Increasing investments by manufacturers to intensify research and development activities and launch attractive and distinct products on the market are also driving market growth on a global scale. Today, manufacturers offer different variations, including white and red, giving customers a wide range of options to choose from. A large number of people adopt these premium and luxury wines at the social gathering to show their status mention, which will positively shape the trajectory of the world luxury wine and spirits market during the forecast period. However, these alcoholic beverages are made from raw materials, namely plums, cherries and grapes. These ingredients are fermented without supplementing them with foreign ingredients. The fermentation process leads to the formation of yeast that transforms the sugar content of these ingredients into carbon dioxide and ethanol. These wines and spirits have been consumed since ancient times.

Impact of covid-19 on Europe Luxury Wines and Spirits Market

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country in the world, and the World Health Organization declared it a public health emergency. The global impacts of the 2019 coronavirus disease (COVID-19) are already beginning to be felt and will significantly affect the luxury wine and spirits market in 2021. The COVID-19 epidemic has had effects on many aspects, including cancellations of flights; travel bans and quarantines; closed restaurants; all indoor / outdoor events are restricted; more than 40 countries have declared a state of emergency; massive drop in the supply chain; volatility of the securities markets; declining business confidence, growing public panic, and uncertainty about the future.

This Research Report on Europe Luxury Wines and Spirits Market is segmented and sub segmented into following categories

Europe Luxury Wines and Spirits Market By Type

• Wines
• Champagnes
• Spirits

Europe Luxury Wines and Spirits Market Distribution Channel  

• Wholesale
• Retail
• E-Commerce
• Others

The Europe Luxury Wines and Spirits Market can be segmented into distribution channels, types and regions. Depending on the distribution channel, the market can be segmented into e-commerce, retail, wholesale, and others. The retail segment accounts for the majority of the Europe Luxury Wines and Spirits Market due to growth in the adoption of retail stores around the world. Additionally, the one-stop-shop solution offered by retailers makes it easy for consumers to source the alcoholic beverages of their choice. In addition, the retailers also offer a large number of products to the customers at a very competitive price. Depending on the type, the market can be segmented into spirits and wines/champagnes. The spirits segment is leading with the highest shares of the luxury wines and spirits market in Europe.

REGIONAL ANALYSIS

• United Kingdom
• Germany
• France
• Italy
• Spain
• the rest of Europe

The market for Europe Luxury Wines and Spirits has been classified on the basis of geography to offer a clear understanding of the market. The Europe Luxury Wines and Spirits Market has been divided into United Kingdom, Germany, France, Italy, Spain and the rest of Europe. Europe accounts for almost 26.50% of the global luxury wine and spirits market, led by Germany, France and the UK. The European market benefits from strong economic conditions, high affordable prices and massive demand for high-end products. The luxury wine and spirits industry in the region is quite mature with high penetration, largely dominated by companies such as Bacardi, Campari, Diageo, and Pernod Richard. The lifestyle change, given the substantial increase in disposable income, is also driving the growth of the luxury wine and spirits market in the region.

KEY PLAYERS IN EUROPE LUXURY WINES AND SPIRITS MARKET

Key players in the Europe Luxury Wines and Spirits Market include Diageo, Thai Beverage Public Company Limited, Suntory Holdings Limited, Pernod Ricard Bacardi, Brown-Forman, Davide Campari-Milano S.p.A, Hitejinro Co.Ltd, Edrington, and LVMH Moët Henness

RECENT HAPPENINGS IN THE MARKET

• An international producer of wines and spirits, the SPI group has acquired the Spanish winery Arinzano for its new luxury wine division, HEW Holding. An international producer of wines and spirits, the SPI group has acquired the Spanish winery Arinzano for its new luxury wine division, HEW Holding. Arinzano is one of the few wineries that makes Vino de Pago, the highest classification of Spanish wine.
• Moët Hennessy, the world leader in luxury wines and spirits, is pleased to announce a partnership with Shawn JAY-Z Carter by acquiring a 50% stake in Armand de Brignac, a leader in prestigious champagne. The partnership reflects a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison. With its striking looks and natural appeal to a diverse global luxury consumer, Armand de Brignac has brought unprecedented innovation and energy to the Champagne category since 2006. It has been a global success with a strong presence in North America, in Asia and Europe. , and more than 500,000 bottles sold in 2019, in particular with an exceptional position in the high energy sectors.
• Galería Gráfica specializes in the design and manufacture of high added value folding boxes for industries such as perfumery, cosmetics, delicatessens, wines and spirits. By entering the niche of the luxury packaging market, Hinojosa reinforces its commitment to provide a global packaging solution, through the acquisition of Galería Gráfica. Hinojosa's main objective is to improve the customer experience by offering a complete packaging service. Along these lines, the group has just concluded the agreement to acquire Galería Gráfica, the manufacturer of high-end boxes with high added value.