PROSPECTS AND OPPORTUNITIES
Higher alcohol duty, particularly on spirits, a factor to consider over the forecast period
Fine wines/champagne and spirits is anticipated to record a 6% value CAGR (at constant 2024 prices) and a 7% retail volume CAGR over the forecast period. When considering the category’s future performance, an increase in alcohol duty will be a factor to take into account.
Aspirational global collaborations keep luxury spirits refreshed, rejuvenated and accessible to more diverse demographics
Luxury drinks brands are leveraging experiential marketing strategies to engage consumers and create memorable experiences. These include immersive tasting events, brand collaborations with artists and celebrities, and interactive online platforms that allow consumers to explore the brand story and heritage.
Environmental, social and governance efforts within luxury spirits
While sustainability is a key focus of sourcing, operations and packaging across the industry, there is somewhat of a gap in terms of ESG-focused boutique spirits distribution. So many fine wines/champagne and spirits are concentrated in small batches and artisanal production, with novelty sought through unique, handcrafted products with authentic stories and superior quality, and the power of their brand’s craft and origin storytelling.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Australia?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Australia?
- How are products distributed in Fine Wines/Champagne and Spirits in Australia?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Australia?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in Australia - Category analysis
KEY DATA FINDINGS
Luxury spirits leads the way as value growth is driven by luxury whiskies and vodka
Premiumisation evident through consumer preference for considered craftsmanship, top-quality ingredients and authentic provenance
Health-conscious drinking enters mainstream as non/low alcohol gains traction both locally and internationally
Higher alcohol duty, particularly on spirits, a factor to consider over the forecast period
Aspirational global collaborations keep luxury spirits refreshed, rejuvenated and accessible to more diverse demographics
Environmental, social and governance efforts within luxury spirits
Luxury Goods in Australia - Industry Overview
Luxury shoppers become increasingly discerning as economic pressures impact demand
Surging inflation, high interest rates and increased living expenses are among the economic headwinds impacting luxury goods
Multinational automotive groups and French luxury conglomerates dominate competitive landscape of luxury goods in Australia
Successful omnichannel approach to luxury facilitates consumer dialogue in the digital realm, while simultaneously rejuvenating city streets and retail precincts
Improved outlook for premium and luxury cars, experiential luxury and fine wines/champagne and spirits
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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