USD 263.8 billion
Report ID: SQSG30F2010 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 147 | Figures: 78
Wine Market size was valued at USD 263.8 billion in 2021 and is poised to grow from USD 296.6 billion in 2022 to USD 444.5 billion by 2030, growing at a CAGR of 5.95% in the forecast period (2023-2030).
Wine is an essential aspect of the European civilization, and this has been influencing other cultures of the world. Mostly young population consume wine as part of their diet, respective of home parties, and social occasions. Over the projected period, these consumer trends are likely to drive market expansion. The demand and consumption have remained stable in the majority of global economies. During the outbreak of Covid-19, the wine industry came to a standstill. However, with the relaxation of quarantine regulations and the shift of consumers toward online purchase, the industry is expected to resume its normal development rate.
Due to its flavour and refreshing features, the wine sector offers consumers the pleasure of alcohol without any hazards and relaying significant appeal. Because of the relaxation of trade taxes and tariff barriers, the beverage has become an essential commodity and is also gaining appeal in the international market. The growing tendency of people socialising with alcohol, along with the introduction of low alcohol-by-volume (ABV) beverages for the working population is driving the market expansion.
US Wine Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 263.8 billion
To get more reports on the above market click here to Buy The Report
Global Wine Market is segmented based on the type, flavour, price range, source, and distribution channel, and region. Based on type, the market is segmented sparkling, still, and others. Based flavor, the market is segmented into red, white, and rose. Based on price range, the wine market is categorized into below US$ 5, US$ 5-10, US$ 10-15, and above US$ 15. Based on source, the wine market is segmented into organic wine and conventional wine. Based on distribution channel, the wine market is segmented into hypermarkets/ supermarkets, convenience stores, specialty stores, pubs/bars/ restaurants, online retailers, and other sales channel. By region, the Wine Market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Analysis by Type
Still wine is the world's oldest and most popular type of alcoholic beverage. It is one of the most popular and commonly accessible alcoholic beverages consumed as table liquor in European nations. Because of the growing association of this kind with various events and meal portions, it has become a flexible drink that can be enjoyed in cocktails as well as on its own. The combination of authentic flavour and premiumized appeal to customers has resulted in increased sales in the worldwide market.
Sparkling wine, on the other hand, is blossoming with enormous potential all over the world, thanks to its effervescent features that make it unique in spectrum. Consumers in developing nations are drawn to novel products such as this drink, which provides desirable sensory characteristics and mouthfeel.
Analysis by Flavour
Red wine has been consumed for many years and is still a famous drink that is popular worldwide. The drink is recognised to have several health benefits, including as antioxidants. Several in-vitro investigations have shown that consuming booze in moderation can help people improve their lifestyle. It also has a luxury appearance and is readily available to consumers. As a result of combining both health benefits and exquisite flavour, red wine has emerged as a prominent category and is expected to develop even more in the next years.
Rosé wines from France's Provence, Italy, and Spain will continue to gain appeal in the coming years. They are extremely adaptable and light, with the freshness of white wine yet the body and fruit of red wine. This medium-sweet wine has a modest alcohol content and is easy to drink. It has a pleasant aroma and is popular with female drinkers in particular. As women continue to be interested in booze, the rose category is expected to increase significantly throughout the projected period.
To get detailed analysis on other segments, Request For Sample Report
The Global Wine Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
Europe is predicted to have the highest share since it has one of the most appealing product choices, as evidenced by the fact that it is the world's largest consumer and accounted for a substantial proportion in 2022. It has always been intertwined with specific cultures and situations that include the product as a sign of celebration. This is one of the primary growth pillars of the region's market. This product's growing popularity is linked to the increased acceptability of low ABV beverages among the young working population in their demanding daily routines. As a result, the market demand encourages producers to launch new and inventive items.
North America is the second-largest market in the global wine market. The region offers enormous development potential, thanks to millennials' increased preference for premium products. According to the Wine Institute, despite the dramatic shutdown of on-premise sales during COVID-19, California market sales reached USD 40 billion.
Asia Pacific is expected to account for a large portion of the global market. This is attributable to customers' increased acceptance of western influence patterns and consumption of a variety of regional cuisines. Domestic vineyards have proliferated in China in recent years. Local grape producers, on the other hand, receive temporary assistance from the government in the form of nursery imports, technological training, water supply, road restoration, and electrical infrastructure projects. With Chinese buyers' growing desire for domestic goods, these wineries are projected to contribute to the Asia’s market growth.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Wine Market Driver
Increasing Consumer Alcohol Socialization to Aid Wine Market Growth
Wine Market Restraint
Consumer limit demand for premium products is expected to slow down the market expansion
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Existence of multiple important competitors in the industry, the competitive landscape of this market is somewhat fragmented. The market is distinguished by the presence of a few well-established businesses as well as numerous small and medium-sized players. Mergers, acquisitions, and collaborations have happened between wineries all over the world. For example, Familia Torres, a Spanish liquor maker, expanded Priorat wine line with the release of a new sumptuous red wine in 2021.
Wine Market Top Player's Company Profiles
Wine Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Wine Market analysis, in 2021, the Wine market was dominated by type like sparkling and still wine and the trend of premiumization is expected to continue. The availability of a diverse range of wine products, combined with increased social media penetration, is growing demand for white and red wine. This is projected to help the global wine industry flourish. Furthermore, a greater emphasis on inventive work has aided in the enhancement of wine blends by exploring new paths for fresh flavours. This is increasing the wine industry's coastal market share. As a result of the spread of various wine products, the maturing interaction and assimilation of various aspects in wine production has increased.
|Market size value in 2021||USD 263.8 billion|
|Market size value in 2030||USD 444.5 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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Wine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.