The Latin America, Middle East and Africa Luxury Wines and Spirits Market would witness market growth of 8.2% CAGR during the forecast period (2023-2029).
Due to the assumption that premium wines and spirits are symbols of money and status, their demand has increased. Additionally, as consumers' tastes and understanding of wines and spirits develop, they are more willing to pay more for products with unique flavor profiles and high-quality ingredients. The growth in disposable income has also increased consumers' willingness to spend for experiences such as wine tastings, tours of wineries & distilleries, and upmarket dining occasions that feature high-end wines and spirits.
Generally speaking, wine has less alcohol than spirits. Spirits are produced by distilling a liquid mash of fermented grains and other ingredients. Whiskey, bourbon, gin, vodka, and other distilled beverages are examples of these spirits, sometimes known as liquors or distilled beverages. The four main processes of sourcing, fermenting, distilling, and aging produce both wines and spirits. Some advantages of wine include a lower risk of cancer, improved cognition, and a high antioxidant content. In addition, spirits can help lower the risk of developing heart disease.
There is a growth in demand for alcoholic beverages in developing nations with growing populations, such as Brazil or South Africa, wherein the younger generation consumes more alcohol. Additionally, because of changing social mores and alcohol's growing popularity, many locals now consume large amounts of it regularly. The growth of disposable income and the economy's health are the two key forces behind the market expansion in these industries.
Brazil is the Latin American nation with the largest population, and over the past ten years, it has had substantial economic growth. The sale of alcoholic beverages is permitted in various retail and licensed locations, including some hotels, nightclubs, bars, restaurants, and sports clubs. The growing popularity of alcoholic beverages across LAMEA is expected to lead to an expansion of the regional market for luxury wines and spirits in the upcoming years.
The Brazil market dominated the LAMEA Luxury Wines and Spirits Market by Country in 2022; thereby, achieving a market value of $7,026.8 Million by 2029. The Argentina market is poised to grow at a CAGR of 8.6% during (2023 - 2029). Additionally, The UAE market would exhibit a CAGR of 7% 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 Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.
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
- Brazil
- Argentina
- UAE
- Egypt
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Luxury Wines and Spirits Market, by Type
1.4.2 LAMEA Luxury Wines and Spirits Market, by Distribution Channel
1.4.3 LAMEA 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. LAMEA Luxury Wines and Spirits Market by Type
4.1 LAMEA Wines/Champagnes Market by Country
4.2 LAMEA Spirits Market by Country
Chapter 5. LAMEA Luxury Wines and Spirits Market by Distribution Channel
5.1 LAMEA Retail Market by Country
5.2 LAMEA Wholesale Market by Country
5.3 LAMEA E-commerce Market by Country
5.4 LAMEA Others Market by Country
Chapter 6. LAMEA Luxury Wines and Spirits Market by Country
6.1 Brazil Luxury Wines and Spirits Market
6.1.1 Brazil Luxury Wines and Spirits Market by Type
6.1.2 Brazil Luxury Wines and Spirits Market by Distribution Channel
6.2 Argentina Luxury Wines and Spirits Market
6.2.1 Argentina Luxury Wines and Spirits Market by Type
6.2.2 Argentina Luxury Wines and Spirits Market by Distribution Channel
6.3 UAE Luxury Wines and Spirits Market
6.3.1 UAE Luxury Wines and Spirits Market by Type
6.3.2 UAE Luxury Wines and Spirits Market by Distribution Channel
6.4 Egypt Luxury Wines and Spirits Market
6.4.1 Egypt Luxury Wines and Spirits Market by Type
6.4.2 Egypt Luxury Wines and Spirits Market by Distribution Channel
6.5 South Africa Luxury Wines and Spirits Market
6.5.1 South Africa Luxury Wines and Spirits Market by Type
6.5.2 South Africa Luxury Wines and Spirits Market by Distribution Channel
6.6 Nigeria Luxury Wines and Spirits Market
6.6.1 Nigeria Luxury Wines and Spirits Market by Type
6.6.2 Nigeria Luxury Wines and Spirits Market by Distribution Channel
6.7 Rest of LAMEA Luxury Wines and Spirits Market
6.7.1 Rest of LAMEA Luxury Wines and Spirits Market by Type
6.7.2 Rest of LAMEA 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 LAMEA Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 3 LAMEA Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 4 LAMEA Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 5 LAMEA Wines/Champagnes Market by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA Wines/Champagnes Market by Country, 2023 - 2029, USD Million
TABLE 7 LAMEA Spirits Market by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Spirits Market by Country, 2023 - 2029, USD Million
TABLE 9 LAMEA Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 10 LAMEA Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 11 LAMEA Retail Market by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Retail Market by Country, 2023 - 2029, USD Million
TABLE 13 LAMEA Wholesale Market by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Wholesale Market by Country, 2023 - 2029, USD Million
TABLE 15 LAMEA E-commerce Market by Country, 2019 - 2022, USD Million
TABLE 16 LAMEA E-commerce Market by Country, 2023 - 2029, USD Million
TABLE 17 LAMEA Others Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Others Market by Country, 2023 - 2029, USD Million
TABLE 19 LAMEA Luxury Wines and Spirits Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Luxury Wines and Spirits Market by Country, 2023 - 2029, USD Million
TABLE 21 Brazil Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 22 Brazil Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 23 Brazil Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 24 Brazil Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 25 Brazil Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 26 Brazil Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 27 Argentina Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 28 Argentina Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 29 Argentina Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 30 Argentina Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 31 Argentina Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 32 Argentina Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 33 UAE Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 34 UAE Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 35 UAE Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 36 UAE Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 37 UAE Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 38 UAE Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 39 Egypt Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 40 Egypt Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 41 Egypt Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 42 Egypt Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 43 Egypt Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 44 Egypt Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 45 South Africa Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 46 South Africa Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 47 South Africa Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 48 South Africa Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 49 South Africa Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 50 South Africa Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 51 Nigeria Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 52 Nigeria Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 53 Nigeria Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 54 Nigeria Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 55 Nigeria Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 56 Nigeria Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 57 Rest of LAMEA Luxury Wines and Spirits Market, 2019 - 2022, USD Million
TABLE 58 Rest of LAMEA Luxury Wines and Spirits Market, 2023 - 2029, USD Million
TABLE 59 Rest of LAMEA Luxury Wines and Spirits Market by Type, 2019 - 2022, USD Million
TABLE 60 Rest of LAMEA Luxury Wines and Spirits Market by Type, 2023 - 2029, USD Million
TABLE 61 Rest of LAMEA Luxury Wines and Spirits Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 62 Rest of LAMEA Luxury Wines and Spirits Market by Distribution Channel, 2023 - 2029, USD Million
TABLE 63 Key Information – Diageo plc
TABLE 64 Key Information – Thai Beverage Pubilc Company Limited
TABLE 65 Key Information – Davide Campari-Milano N.V.
TABLE 66 key Information – LVMH SE
TABLE 67 Key Information – Suntory Holdings Limited
TABLE 68 Key Information – Brown-Forman Corporation
TABLE 69 Key Information – Hitejinro Co., Ltd.
TABLE 70 Key Information – Pernod Ricard S.A.
TABLE 71 Key Information – Bacardi Limited
TABLE 72 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