The North America Luxury Wines and Spirits Market would witness market growth of 6.0% CAGR during the forecast period (2023-2029).
The luxury wines and spirits market include alcoholic beverages with an alcohol by volume (ABV) between 3 to 40%. Available beverages include wines and distilled spirits, often of high quality and cost a premium. These items are typically consumed at weddings, parties, get-togethers, and other celebrations. Government restrictions prevent customers under the age of 17 from consuming them in the majority of countries. But middle-aged consumers between the ages of 35 and 55 are beginning to favor it increasingly.
Due to their perceived higher worth and exclusivity, rare & vintage wines and spirits have witnessed an increase in demand. Furthermore, the popularity of luxury wines and spirits is driven by consumers' demand for a distinctive and personalized experience. Therefore, customers look for products that can evoke exclusivity and luxury and have a distinctive flavor and history.
Additionally, the demand for organic and sustainable goods is increasing, which presents a significant growth opportunity for the luxury wine and spirits market. The growing interest in organic and sustainable products stimulates the demand for luxury wines and spirits in various ways.
Due to the fact that fortified wines provide customers with more unusual options and possibilities, they are one of the alcoholic beverage categories with the highest growth in the United States. In addition, the rise of single-spirit bars has contributed to the country's overabundance of fortified wines. Sherry and port, vintage fortified wines, are particularly well-liked in such places. As a result, businesses have started aggressive branding campaigns and social media marketing to raise brand recognition. Thus, there is expected to be significant demand for fortified wines in the North American region, which would help the market growth for luxury wines and spirits.
The US market dominated the North America Luxury Wines and Spirits Market by Country in 2022; thereby, achieving a market value of $76,151.1 Million by 2029. The Canada market is estimated to grow at a CAGR of 8.1% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.8% during (2023 - 2029).
Based on Type, the market is segmented into Wines/Champagnes, and Spirits. Based on Distribution Channel, the market is segmented into Retail, Wholesale, E-commerce, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Luxury Wines and Spirits Market is Projected to reach USD 349.6 Billion by 2029, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Diageo plc, Thai Beverage Public Company Limited, Davide Campari-Milano N.V. (Campari Group), LVMH SE, Suntory Holdings Limited, Brown-Forman Corporation, Hitejinro Co., Ltd., Pernod Ricard S.A., Bacardi Limited, Bayadera Group
Scope of the Study
Market Segments Covered in the Report:
By Type
By Distribution Channel
- Retail
- Wholesale
- E-commerce
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Diageo plc
- Thai Beverage Public Company Limited
- Davide Campari-Milano N.V. (Campari Group)
- LVMH SE
- Suntory Holdings Limited
- Brown-Forman Corporation
- Hitejinro Co., Ltd.
- Pernod Ricard S.A.
- Bacardi Limited
- Bayadera Group
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Luxury Wines and Spirits Market, by Type
1.4.2 North America Luxury Wines and Spirits Market, by Distribution Channel
1.4.3 North America Luxury Wines and Spirits Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Luxury Wines and Spirits Market
Chapter 4. North America Luxury Wines and Spirits Market by Type
4.1 North America Wines/Champagnes Market by Country
4.2 North America Spirits Market by Country
Chapter 5. North America Luxury Wines and Spirits Market by Distribution Channel
5.1 North America Retail Market by Country
5.2 North America Wholesale Market by Country
5.3 North America E-commerce Market by Country
5.4 North America Others Market by Country
Chapter 6. North America Luxury Wines and Spirits Market by Country
6.1 US Luxury Wines and Spirits Market
6.1.1 US Luxury Wines and Spirits Market by Type
6.1.2 US Luxury Wines and Spirits Market by Distribution Channel
6.2 Canada Luxury Wines and Spirits Market
6.2.1 Canada Luxury Wines and Spirits Market by Type
6.2.2 Canada Luxury Wines and Spirits Market by Distribution Channel
6.3 Mexico Luxury Wines and Spirits Market
6.3.1 Mexico Luxury Wines and Spirits Market by Type
6.3.2 Mexico Luxury Wines and Spirits Market by Distribution Channel
6.4 Rest of North America Luxury Wines and Spirits Market
6.4.1 Rest of North America Luxury Wines and Spirits Market by Type
6.4.2 Rest of North America Luxury Wines and Spirits Market by Distribution Channel
Chapter 7. Company Profiles
7.1 Diageo plc
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisition and Mergers:
7.2 Thai Beverage Public Company Limited
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.3 Davide Campari-Milano N.V. (Campari Group)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Regional Analysis
7.3.4 Research & Innovation Expenses
7.4 LVMH SE
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Acquisition and Mergers:
7.5 Suntory Holdings Limited
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.6 Brown-Forman Corporation
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Acquisition and Mergers:
7.7 Hitejinro Co., Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.8 Pernod Ricard S.A.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Recent strategies and developments:
7.8.3.1 Partnerships, Collaborations, and Agreements:
7.8.3.2 Acquisition and Mergers:
7.9 Bacardi Limited
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Acquisition and Mergers:
7.10. Bayadera Group
7.10.1 Company Overview
TABLE 1 North America Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 2 North America Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 3 North America Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 4 North America Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 5 North America Wines/Champagnes Market by Country, 2019 - 2022, USD Million
TABLE 6 North America Wines/Champagnes Market by Country, 2023 - 2029, USD Million
TABLE 7 North America Spirits Market by Country, 2019 - 2022, USD Million
TABLE 8 North America Spirits Market by Country, 2023 - 2029, USD Million
TABLE 9 North America Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 10 North America Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 11 North America Retail Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Retail Market by Country, 2023 - 2029, USD Million
TABLE 13 North America Wholesale Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Wholesale Market by Country, 2023 - 2029, USD Million
TABLE 15 North America E-commerce Market by Country, 2019 - 2022, USD Million
TABLE 16 North America E-commerce Market by Country, 2023 - 2029, USD Million
TABLE 17 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 19 North America Luxury Wines and Spirits Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Luxury Wines and Spirits Market by Country, 2023 - 2029, USD Million
TABLE 21 US Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 22 US Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 23 US Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 24 US Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 25 US Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 26 US Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 27 Canada Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 28 Canada Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 29 Canada Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 30 Canada Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 31 Canada Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 32 Canada Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 33 Mexico Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 34 Mexico Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 35 Mexico Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 36 Mexico Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 37 Mexico Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 38 Mexico Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 39 Rest of North America Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 40 Rest of North America Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 41 Rest of North America Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 42 Rest of North America Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 43 Rest of North America Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 44 Rest of North America Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 45 Key Information – Diageo plc
TABLE 46 Key Information – Thai Beverage Pubilc Company Limited
TABLE 47 Key Information – Davide Campari-Milano N.V.
TABLE 48 key Information – LVMH SE
TABLE 49 Key Information – Suntory Holdings Limited
TABLE 50 Key Information – Brown-Forman Corporation
TABLE 51 Key Information – Hitejinro Co., Ltd.
TABLE 52 Key Information – Pernod Ricard S.A.
TABLE 53 Key Information – Bacardi Limited
TABLE 54 Key Information – Bayadera Group
List of Figures
FIG 1 Methodology for the research
FIG 2 Recent strategies and developments: LVMH SE
FIG 3 Recent strategies and developments: Pernod Ricard