Luxury Wine Industry Global Market Demand, Opportunities, Top Key Players and Forecast to 2027
Market Highlights Market Research Future (MRFR) assessed the global Luxury Wine Industry 2020 across the review period 2018-2023. By 2023, the Luxury Wine Industry can expand at 5.22% CAGR through the review period from 2018 to 2023. By 2023, the luxury wines and spirits market can secure about USD 93,550.0 Mn , reveals MRFR study. The increase in number of potential buyers can favor the expansion of the Luxury Wine Industry through the review period. The expansion of tourism sector and hike in luxury are some other major factors that can support the expansion of the market. The high consumption of luxury wines and spirits across the world in luxury aircrafts, hotels, and ships can promote the expansion of the market through the analysis period. The growing popularity of luxury wines and spirits remain among niche consumers, along with shift in consumer preference towards alcoholic beverages can favor the market through the analysis period. Competitive Landscape Diageo PLC, LVMH M