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Strategy Briefing

Luxury Alcoholic Drinks: The Spirit of Premiumisation

Oct 2016

US$1,325

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About This Report

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In more recent years, distillers have increased their focus on value sales as volumes, particularly in core mature markets, slowed down. This has meant a greater emphasis on premium and above priced spirits. This global briefing looks the key countries for these products such as China and the US but also other markets as the reach of premium and above spirits broadens.

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Overview

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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.

High disposable income important but other factors also play role

The number of households with high disposable income and economic growth are vital elements in determining the capacity for a country to consume premium and luxury spirits. However, it is not essential as a small but very affluent economic elite offers opportunities as do cultural factors in different markets.

China dominates premium and above spirits consumption

Thanks to its size and popularity of its local spirit, baijiu, China dominates premium and above spirits sales in both volume and value terms. However, the country’s strength is focused on this one category, which suffered badly between 2010-2015 due to a crackdown on corruption but will recover as consumption habits adapt.

US is second largest market and offers greater opportunity

While only around a 10th of the size of the Chinese high-end spirits market, the US offers greater opportunity for growth thanks to a broader range of categories seeing growth in premium and above spirits.

Broadening geographic reach

A combination of growing prosperity, but equally importantly, changing consumer habits, has led to greater opportunities in a wider range of markets, both mature and emerging.

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Introduction

Scope

Key findings

Consumer Expenditure

China dominates premium and above spirits

Demand for premium related to income

Wealth disparity helps too

US

Premium diversity in the US

Growing number of wealthy boosts prospects for high-end spirits

US is the power behind cognac

Premiumisation drives the largest single malt Scotch market

Super premium bourbon/other US whiskey is key category driver

US tequila (and mezcal ) a paradigm of premiumisation

China

China’s growing wealth

Growing individual wealth in China

Baijiu in China

Cognac in China

Other blended Scotch whisky in China

Single malt Scotch whisky in China

Rest of The World

Emerging markets offer further dynamism, as developed recover

Cognac - commoditised and declining in Western Europe

Trading up to counter discounting - UK cognac

The creation of super premium gin

English gin expands outside core European markets

Rise of luxury brands in Spain

Australian premiumisation if not volume growth

Changing habits impact South Korean Scotch

Super premium vodka rises above Brazil’s economic woes

Vietnam follows China in cognac

High-end cognac drives category in Taiwan

Wealthy niche drives rise of super premium in Colombia

Mexico - growing premiumisation

Rich elite drives African growth

Russia - luxury over performs

Conclusion

Luxury growing and broadening in the future

Appendix

Definitions

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Megatrends

Strategy Briefing

Luxury Alcoholic Drinks: The Spirit of Premiumisation

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

High disposable income important but other factors also play role

China dominates premium and above spirits consumption

US is second largest market and offers greater opportunity

Broadening geographic reach

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Consumer Expenditure

China dominates premium and above spirits

Demand for premium related to income

Wealth disparity helps too

US

Premium diversity in the US

Growing number of wealthy boosts prospects for high-end spirits

US is the power behind cognac

Premiumisation drives the largest single malt Scotch market

Super premium bourbon/other US whiskey is key category driver

US tequila (and mezcal ) a paradigm of premiumisation

China

China’s growing wealth

Growing individual wealth in China

Baijiu in China

Cognac in China

Other blended Scotch whisky in China

Single malt Scotch whisky in China

Rest of The World

Emerging markets offer further dynamism, as developed recover

Cognac - commoditised and declining in Western Europe

Trading up to counter discounting - UK cognac

The creation of super premium gin

English gin expands outside core European markets

Rise of luxury brands in Spain

Australian premiumisation if not volume growth

Changing habits impact South Korean Scotch

Super premium vodka rises above Brazil’s economic woes

Vietnam follows China in cognac

High-end cognac drives category in Taiwan

Wealthy niche drives rise of super premium in Colombia

Mexico - growing premiumisation

Rich elite drives African growth

Russia - luxury over performs

Conclusion

Luxury growing and broadening in the future

Appendix

Definitions

Why buy this report?

Want to find out more about this report?

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