Still Wine Market Size, Share, Growth Analysis, By Type Outlook(Red Wine, White Wine), By Distribution Channels(Supermarkets, Wine Shops) - Industry Forecast 2024-2031

Drivers

Enhancing consumer socialization with alcohol to support market expansion

• The production and consumption of wine have experienced remarkable growth over the last few decades, which has led to an increase in the pattern of consumption. Today, industrialization, social interactions, and the growing embrace of western culture are some of the elements encouraging alcohol socialization among consumers. The market for low-alcohol beverages is expanding as drinking alcohol is increasingly seen as a sign of social standing. Because to its refreshing appeal and low ABV offerings, it is becoming extremely popular among young people and millennials. In developing nations, it is typically offered as a table drink with everyday cuisine and is primarily connected with a number of occasions. The market will continue to rise as a result of the manufacturers' increased motivation to release and offer novel items.

Platforms for E-Commerce are Growing, Supporting Greater Revenue Generating

• Throughout the last few years, buying alcohol online has grown in popularity and is anticipated to do so even more in the next years. The advantages are numerous, including easy shopping, prompt home delivery, a variety of offers, and others. Hence, in important markets like the U.K., the U.S., Italy, Spain, and others, the online sales channel is playing a vital role. Online sales in established regions like Europe and North America are anticipated to increase annually by about 15%, according to the Netherlands Ministry of Foreign Affairs. The growth of this channel in Europe climbed by an average of 180% in according to Comité Européen des Entreprises Vins (CEEV). Future growth is additionally anticipated to be supported by the technology developments and enhanced distribution networks in e-commerce.

Restraints

Customers' potential market harm may come from their gradual shift to other alcoholic beverages

• The market may be hampered by consumers' gradual shift to other alcoholic beverages. The Global developments like the spread of modernity and the rise in booze use have pushed the makers of alcoholic beverages to introduce daring and imaginative new flavours. the steady shift in customer tastes towards different alcoholic drinks such liqueurs, spirits, beer, and others due to their accessibility at reasonable rates. According to American Addiction Centers (AAC), beer, lagers, and cider account for the vast majority of the 400 billion litres of alcohol used annually worldwide. Beer had a 45.5% market share, liquor had a 37.3% share, and this product had the lowest share at 17.2%. Hence, the tendency to turn towards alcoholics in others. drinks is likely to dampen the market growth in the upcoming years. However, the industry players are channelizing their focus towards enticing consumers’ by introducing drinks with various ABV ranges in the market.

Increases the risk of cancer as well as stress

• Alcohol may have a calming effect by lowering cortisol levels. The mind still has a tendency to stray despite this, though. Like other alcoholic beverages, sparkling wine has been found to increase the tendency to concentrate on unpleasant and negative thoughts. Because of this, most people consume a lot of still wine in an effort to feel better. Many people also reach for a glass of wine after a trying day, but they can expect to face the same challenges the next day. Due to excessive wine intake, people occasionally suffer higher levels of stress. Heart disease can be prevented with the help of sparkling wine. Nonetheless, heavy alcohol use can increase the risk of cancer, especially breast and lung cancer.