Fatpos Global has released a report titled “Wine Market - Analysis of Market Size, Share & Trends for 2021 – 2022 and Forecasts to 2032” which is anticipated to reach USD 671.3 billion by 2032. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 5.0% between 2022 and 2032. As per the report, the market is being driven in large part by the growing popularity of wine among all age groups, from young to old. Moreover, more people are choosing better lifestyles due to increased incomes of consumers, and improved lifestyles everywhere. Therefore, the demand for coastal wine is rising as a result of high-quality wine consumption. The demand for white and red wine is expanding due to the availability of a wide variety of wine products and the mounting use of social media. This is anticipated to support the growth of the global Wine Market.
“The key drivers of the market growth are urban consumers' growing preference for exotic wines and the increase in alcoholic beverage consumption. Other significant elements that affect market growth include increased e-commerce platform penetration, changing and evolving lifestyles, particularly in developing economies, rising public awareness of the advantages of wine consumption, and an increase in the number of eateries, lounges, and social clubs. Increased demand for alcohol-based drinks with fewer calories, rapid advancements in packaging technology, and an increase in the premiumization of wine products worldwide will all contribute to market growth in terms of value.”, said a lead analyst at Fatpos Global.
Wine is an alcoholic drink prepared from fermented grapes. The sugar in the grapes is absorbed by the yeast, which is then broken into carbon dioxide and ethanol while creating heat at the same time. Most often, different grape varieties and yeast strains are used to make different types of wines. The complex connections between the biological development of the grape, the reactions to fermentation, the environment in which the grape is cultivated, and the wine-making techniques are the cause of these variances.
Wine Market is categorized on the basis of Distribution Channel into On-Trade and Off-Trade. The Off-Trade segment is expected to lead the market over the forecast period. One of the best ways to get a product to market is through the off-trade distribution channel. Among the off-trade channels are supermarkets, specialized shops, gas stations, and others. Retail counters are becoming more and more well-liked all around the world since they offer a wider selection of goods at lower rates than restaurants, bars, and other on-trade outlets.
Some of the key players operating in the global Wine Market are Asahi Group Holdings Ltd, Beijing Yanjing Beer Group Corporation, Pernod Ricard, Constellation Brands, E. & J. Gallo Winery, The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Castel Frères, Accolade Wines, Treasury Wine Estates (TWE), Global Drinks Finland, Torres Wines, and Other Prominent Players.
In the latest market study conducted by, Fatpos Global thrives to present an unbiased analysis of the global Wine Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2022-2032. The study includes compelling insights into growth that is witnessed in the market. Global Wine Market is classified on the basis of Type into Sparkling, Still, and Others. By Flavor, the global Wine Market is divided into Red, White, and Rose. By Distribution Channel, the global Wine Market is divided into On-Trade and Off-Trade. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
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