Wine Market

Report Overview

[170+ Pages Research Reports] Wine Market to surpass USD 671.3 billion by 2032  from USD 392.46 billion in 2021 at a CAGR of 5.0% throughout the forecast period 2022-32

PRODUCT OVERVIEW

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 has a broad variety of variants, fascinating qualities, and is refined and elegant. Since numerous varieties of vineyards can be found even within the same state, there is always something new to discover. This variety of diverse flavors is unique to wine.

MARKET HIGHLIGHTS

The Wine Market is expected to project a notable CAGR of 5.0% in 2032.

Wine to surpass USD 671.3 b4illion by 2032 from USD 392.46 billion in 2021 at a CAGR of 5.0% in the coming years, i.e., 2022-32. The market is mostly being pushed by the rising acceptance of wine among people of all ages, from young to old. Moreover, due to rising consumer incomes and better lifestyles everywhere, more individuals are selecting better lifestyles. Since more people are drinking fine wine, there is a growing demand for coastal wine. Owing to the availability of a wide range of wine products and the rising usage of social media, the demand for white and red wine is rising. This is expected to help the global Wine Market flourish considerably.

FIGURE - MARKET ANALYSIS OF WINE MARKET

WINE: SEGMENTS

The Still segment is expected to grow with a higher CAGR during 2022-32

Wine Market is categorized on the basis of Type into Sparkling, Still, and Others. Still wine is the oldest and most popular kind of alcoholic beverage in the world. In Europe, still wine is used as table liquor and is one of the most consumed and easily available alcoholic beverages. This type is a beverage that can be enjoyed both on its own and in cocktails because it is becoming more and more associated with various events and food items. Due to its genuine taste offers and premium appeal to consumers, the sales of still wine have surged on the global Wine Market.

The Off-Trade segment is expected to grow with a higher CAGR during 2022-32

Wine Market is categorized on the basis of Distribution Channel into On-Trade and Off-Trade. The off-trade distribution channel is among the finest options for bringing a product to market. Shops including supermarkets, petrol stations, specialty stores, and others are examples of off-trade channels. Since they provide a broader variety of goods at lower prices than pubs, restaurants, and other on-trade businesses, retail counters are gaining popularity all over the world. Investors are placing a lot of emphasis on the development of modern companies and useful retail locations to offer straightforward shopping at affordable prices in the market, which is bringing in a lot of money.

FIGURE - MARKET ANALYSIS OF GLOBAL WINE

MARKET DYNAMICS

Growth Drivers :The Increasing Adoption of Wine among Different Age Groups and Rise of Direct-to-Consumer Sales

The increasing consumption of wine by people of all ages, from the young generation to the old population globally, is the main factor driving market growth. Moreover, there has been a significant change in consumers’ purchasing behavior. Since restaurants, hotels, and bars are closed or only partially open, customers have turned to food vendors and internet marketplaces for their purchases. Direct-to-consumer sales have increased as a result of this shift in consumer behavior, and the specialty Wine Market has also seen minor sales growth.

The Growth of E-Commerce Platforms and Advancements of Improved Distribution Networks

To gain a larger share of the market, manufacturers are focusing on developing new e-commerce platforms and forming alliances. Increased e-commerce distribution networks and technology improvements are also expected to promote future growth. Purchasing alcohol has been a more common decision in recent years. This tendency is expected to persist during the projected period. Prompt home delivery, a convenient shopping experience, selection of deals, and other benefits are offered to customers through e-commerce. Therefore, the online sales channel is crucial in bigger markets.

Restraint : High Costs of Wine and Strict Government Regulations for Tax Imposition

High production costs will impact in high wine pricing, which will pose a substantial barrier to the market growth. Government regulations that are too severe and the high tax load will slow down the rate at which the market grows. Market growth is also hampered by the growing number of alternatives and the health dangers associated with excessive consumption.

RECENT DEVELOPMENTS

• To secure a spot on digital stores, Constellation Brands purchased direct-to-consumer wine business Empathy Wines in July 2020. Wine was sold directly to customers in 2019 for 6.6 billion cases at a cost of USD 3.2 billion, according to the compliance company Sovos ShipCompliant for alcoholic beverages. The whole Constellation wine collection will profit from Empathy's expertise in online sales.
• E. & J. Gallo Winery (Gallo) announced in January 2021 that it had successfully acquired more than 30 wine brands from Constellation Brands Inc. The FTC gave its approval for Gallo and Constellation to close their contract on December 23, 2020.
• The Language of Yes, a collection of wines, will be released in July 2021 by E. & J. Gallo Winery's Luxury Wine Group in association with renowned winemaker and visionary Randall Grahm.

WINE: KEY PLAYERS

• Asahi Group Holdings Ltd

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• 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
• Other Prominent Players

WINE: REGIONS

Wine Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Since Europe region has a sizable and established wine sector, it held the largest proportion. Also, some countries in the region have the highest per capita wine consumption rates.

The fastest CAGR is anticipated to be registered by Asia Pacific. Japan, China, and South Korea are the main consumers of wine in Asia Pacific, which is the third-largest region by volume. Due to its sizable client base, rising disposable incomes, and ideal climatic conditions for wine development, particularly in China, the region has a lot of potential.

IMPACT OF COVID-19 ON WINE MARKET

Global beverages markets, and this wine sector in particular, have undergone a dramatic upheaval as a result of the COVID-19 epidemic. The widespread shutdown of numerous sites and the resulting restrictions on public transportation impacted the distribution networks throughout the world. As they were typically ordered in bars, restaurants, or at weddings, and special occasions, sparkling wine was impacted more negatively in nations like the China and United Kingdom.

WINE IS FURTHER SEGMENTED BY REGION INTO:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

WINE REPORT ALSO CONTAINS ANALYSIS ON WINE SEGMENTS:

• By Type 
  • Sparkling
  • Still
  • Others
• By Flavor 
  • Red
  • White
  • Rose
• By Distribution Channel
  • On-Trade
  • Off-Trade
• Wine Market Dynamics
• Wine Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Frequently Asked Questions (FAQ):