Luxury Wines Spirits Market Share

The global market for luxury wines and spirits has been consistently in demand in recent years and is expected to reach a value of USD 93,550.0 Million by 2023, growing at a rate of 5.22%. The industry has seen a lot of new products, research, development, and collaboration among companies. During the forecast period from 2018 to 2023, Asia-Pacific is expected to have the largest market share in the global luxury wines and spirits market, reaching USD 39,010.4 Million. However, the Rest of the World is projected to have a substantial growth rate of 5.97%.

In terms of volume, the global luxury wines and spirits market is expected to grow at a CAGR of 3.82% and reach 101,278.8 Hectoliters by 2023. Asia-Pacific is anticipated to dominate this market segment, reaching 41,483.9 Hectoliters, while the Rest of the World is expected to have a significant growth rate of 4.84%. Focusing on specific product segments, the wine segment is expected to have the largest market share, reaching USD 58,258.5 Million in value and 63,082.9 Hectoliters in volume by the end of 2023.

However, the whisky segment is expected to show substantial growth rates of 6.37% in value and 4.96% in volume during the forecast period. When considering distribution channels, the food retail segment is expected to have the maximum market share in terms of value, reaching USD 58,163.5 Million by the end of 2023. Meanwhile, the food service segment is projected to have a substantial growth rate of 5.26%.