International and domestic brands are widely available within in the Italy fine wines market. Moët Hennessy is one of the most important companies within this category. Its most popular brands are Dom Pérignon, Veuve Clicquot and Mo?t & Chandon within fine champagne, and Hennessy within luxury cognac. Other famous brands within fine champagne are Taittinger by Champagne Taittinger and Mumm by Pernod Ricard Italia SpA.
2012's value growth was slightly lower than the review period CAGR. The sluggish economy slowed down domestic consumption as consumers tended to cut spending in order to save money. Price increases in 2012, however, boosted the value performance of fine wines/champagne and spirits. If older people showed greater health concerns and the smoking ban negatively impacted on-trade sales, fine wines/champagne and spirits gained popularity in Italy thanks to increasing home consumption in 2012.
Despite a predicted overall price increase, the category should see positive growth in volume terms. This expected price decrease should be driven by increasing competition from the Internet, with a wider range of product offers and attractive promotional activities. Additionally, the presence of fine wines/champagnes and spirits in supermarket and hypermarket should lead to price pressure. As a result, fine wines/champagnes and spirits should register a CAGR of -1% over the forecast period.
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