What does "premiumization" mean?

The move towards more expensive premium products.

What is a synonym for "premiumization"?

Common synonyms include: premium wines market.

noun

noun ·Rare ·Advanced level

Noun

1
The move towards more expensive premium products. uncountable
"“The pace of premiumization has slowed,” he said."

"“The pace of premiumization has slowed,” he said."

From premium + -ization.