USD 279.32 billion
Report ID: SQMIG30F2016 | Region: Global | Published Date: July, 2023 | Pages: 242 | Tables: 63 | Figures: 75
Still Wine Market size was valued at USD 279.32 billion in 2021 and is poised to grow from USD 307.53 billion in 2022 to USD 664.03 billion by 2030, growing at a CAGR of 10.1% in the forecast period (2023-2030).
Urban consumers' growing preference for unusual wines and the increase in demand for alcoholic beverages are the two main drivers of market expansion. Other significant elements that influence the market growth include changing and evolving lifestyles, increased e-commerce platform penetration, particularly in developing nations, rising public awareness of the advantages of wine consumption, and an increase in the number of eateries, lounges, and entertainment venues. Growing consumer desire for alcohol-based beverages with fewer calories, rapid advancements in packaging technology, and a global trend towards premium wine products will all contribute to market value growth. A significant obstacle to the market expansion will be the high pricing of wines brought on by high production expenses. The government's strict rules and regulations, along with high taxes, will slow the market expansion.
US Still Wine Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 279.32 billion
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Global Still Wine Market is segmented on the basis of Type Outlook, Distribution Channel, and region. By Type, the market is segmented into Red wine, White Wine, and Rose Wine. By Distribution Channels, market is segmented into, Supermarket, Wine Shops, Online Retailers and Other. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type Outlook
Red wine is the largest and dominating wine type in the global still wine market, accounting for the majority of the market share. This is due to the popularity of red wine among consumers, as well as its versatility in pairing with different foods. Red wine is produced in many different styles and varietals, such as Cabernet Sauvignon, Merlot, Pinot Noir, and Syrah, which provides consumers with a wide range of choices. red wine is high in antioxidants and strong plant chemicals, it is widely drunk around the world.
The fastest growing segment of the market is Rose Wine. Rosé wine is a growing segment of the still wine market, with increasing demand from younger consumers. Rosé wine is usually made from red grapes but with minimal skin contact, resulting in a pinkish colour. It is often associated with warm weather and outdoor activities, and is gaining popularity as a wine for casual occasions.
White wine is the most popular wine type, but it has a lower market share compared to red wine. White wine is usually lighter and more refreshing than red wine, and is often paired with seafood, poultry, and salads. Popular varietals of white wine include Chardonnay, Sauvignon Blanc, and Riesling.
Analysis by Distribution Channels
The largest segment of the global Still Wine market based on Distribution Channels is Supermarkets. Supermarkets are the largest distribution channel for still wine, accounting for the majority of sales worldwide. Supermarkets offer a wide variety of wine brands and varietals at competitive prices, making it convenient for consumers to purchase wine while doing their grocery shopping.
The fastest growing segment of the market is Online Retailers. consumers a convenient and easy way to purchase wine from the comfort of their own homes. Online retailers also provide a wider selection of wines, including rare and hard-to-find varietals.
Wine shops are also a significant distribution channel for still wine, especially for premium and specialty wines. Wine shops offer a personalized shopping experience and provide expert advice to consumers, making it easier for them to select the right wine for their needs.
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Europe region dominated the global market since it offers one of the most alluring product ranges. It has long been intertwined with specific cultures and celebrations that use the item as a mark of honour. This is one of the main drivers of market expansion in the region. The European Union consumed 48% of the world's wine in 2021, with an anticipated volume of 118 mhl, according to the International Organization of Vine and Wine (OIV). France continues to be a significant consumer despite the fact that the per capita consumption has been on the decline since the a few years ago. Italy is the second-largest market in the EU. The rising popularity of this product is related to the youthful working population's increased acceptance of low ABV beverages in their busy daily routines. As a result, producers are being encouraged by market demand to release fresh, cutting-edge items.
The North America region is one of the fastest-growing markets for Still Wine. Due to millennials' increased interest in premiumization trends, the region offers enormous economic potential. According to OIV, the United States used 33 mhl, or 14% of all products, making it the world's top product consumer. According to the Wine Institute, the California market saw sales of USD 40 billion despite the abrupt stoppage of on-premise sales. Manufacturers are working to diversify their product offerings in response to rising customer demand and consumption. For instance, the debut of Highlands 41 was announced by Riboli Family Wines, a family-owned business with headquarters in California. In addition, it is anticipated that the development of additional vineyards with customer demand in mind will fuel expansion in the coming years.
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Enhancing consumer socialization with alcohol to support market expansion
Platforms for E-Commerce are Growing, Supporting Greater Revenue Generating
Customers' potential market harm may come from their gradual shift to other alcoholic beverages
Increases the risk of cancer as well as stress
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While there are multiple major participants in the industry, the competitive environment is only somewhat fragmented. The Wine Group, John Distilleries, International Beverage Holdings, Distell Group, and Halewood Wines are a few of the top competitors with sizable market shares. The producers are putting their attention into creating fresh formulations and releasing new goods onto the market. For instance, the Spanish liquor manufacturer Familia Torres stated that it would be introducing a brand-new, pleasurable and decadent red wine to complement its existing Priorat wine selection.
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The Wine has long been a part of some civilizations, while it is completely taboo or even prohibited in others. Other libations are preferred in many sub-Saharan African and Asian civilizations, with the exception of South Africa, a renowned wine-growing country. Research suggest that some Chinese customers might prefer sweeter versions of wine, or at the very least, wine blended with soft beverages. Because cultural changes take time, these "frontier" markets are difficult. Europe has the most developed wine markets, with Portugal, Italy, and France consuming over 35 litres of wine per person yearly, compared to 23.9 litres for Australia, 9.9 for the US, and barely 3.5 for China. With 58% of the volume and 50% of the total value of global consumption, Europe remains the centre of the world. China, the United States, and France collectively have the largest wine markets due to their greater populations, although Germany, the United States, and the United Kingdom are the main importers of wine due to their countries' significantly lower output than consumption.
Organic and natural wines are produced using environmentally-friendly and sustainable methods, without the use of synthetic pesticides, herbicides, or fertilizers. The grapes are grown using organic or biodynamic farming practices, and the wine is made using traditional winemaking techniques that minimize the use of additives and processing aids. There is growing interest in organic and natural wines among younger consumers, who are more health-conscious and environmentally aware. These consumers are willing to pay a premium for products that align with their values, and are attracted to the authentic and artisanal nature of organic and natural wines
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According to our global Still Wine market analysis, global market growth is driven by several factors, including increasing consumer demand for premium wines, rising disposable incomes, and changing consumer preference. Europe is the largest market for still wine, followed by North America and Asia-Pacific. Emerging markets in Asia-Pacific, such as China and India, are experiencing rapid growth in wine consumption, driven by the rising middle class and increasing wine culture. The global still wine market can be segmented based on the type of wine, such as red, white, rose, and others. Red wine is the most popular type, accounting for more than half of the market share, followed by white wine and rose wine. The market is driven by changing consumer preferences and behaviours, as well as technological advancements and innovation in the industry.
|Market size value in 2021||USD 279.32 billion|
|Market size value in 2030||USD 307.53 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Still Wine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Still Wine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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