PROSPECTS AND OPPORTUNITIES
Fine wines and champagne remain a cornerstone of category performance
Over the forecast period, fine wines/champagne and spirits in the UK is expected to perform positively, with the most robust performance predicted to be by other fine wine, outgrowing the category as a whole. Although luxury spirits, including luxury whiskies, is expected to see growth, it is expected to continue to feel the impact of shifting consumer behaviours, including the growing movement towards lowering or limiting alcohol consumption.
Premiumisation of at-home drinking
The growing trend towards home consumption will continue into the forecast period. As local consumers continue to prioritise curating elevated experiences at home, demand for the category will further grow, shifting the nature of where and how consumers engage.
Sustainability, education and wellness to drive future innovation
Innovation in fine wines/champagne and spirits in the UK is expected to be centred around sustainable production initiatives, consumer education, and continued development of non/low alcohol alternatives throughout the forecast period. Consumers have become increasingly discerning regarding fine wines/champagne and spirits, looking further into provenance, craftmanship and storytelling; this behaviour is expected to continue, and innovation in the industry is expected to match this.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in Fine Wines/Champagne and Spirits in United Kingdom?
- How are products distributed in Fine Wines/Champagne and Spirits in United Kingdom?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in United Kingdom?
- 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 the United Kingdom - Category analysis
KEY DATA FINDINGS
Positive performance and repositioning English wine
Artisanal craft remains a focus for new developments
Health-conscious drinking driven by Generation Z and embraced by luxury leaders
Fine wines and champagne remain a cornerstone of category performance
Premiumisation of at-home drinking
Sustainability, education and wellness to drive future innovation
Luxury Goods in the United Kingdom - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
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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