What is the global market size of the Wine Market?

Global 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).

Global Wine Market Size, Share, Growth Analysis, By Type(Sparkling, Still), By Flavours(Red, White), By Price Range(US$ 5, US$ 5-10), By Distribution Channel(Hypermarkets/ Supermarkets, Convenience Stores), By Source(Organic Wine, Conventional Wine) - Industry Forecast 2024-2031

Report ID: SQMIG30F2042 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 147 | Figures: 78

Global Wine Market News

In October 2022, RIMOWA ties up with Wine Access in an innovative cross-disciplinary collaboration to commemorate the imminent debut of their Twelve Bottle Case, designed to transport and preserve wine bottles on the go.
On June 2022, WineCap, a fine wine investment platform, announced the launch of Wine Track, the market's most comprehensive index, which enables investors to identify the right, undervalued wines to buy and sell across the global market at the right time and price.
In July 2021, The E. & J. Gallo Winery Group, a global leader in the liquor and beverages sector, and Randall Grahm, a famed winemaker and visionary, have announced the introduction of "The Language of Yes," a collection of wines. The new collection is inspired by Southern France's rich winegrowing tradition.

Global Wine Market Report Snapshots

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Wine Market size was valued at USD 263.8 billion in 2019 and is poised to grow from USD 296.6 billion in 2023 to USD 444.5 billion by 2031, growing at a CAGR of 5.95% in the forecast period (2024-2031).

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. 'E & J Gallo Winery', 'Constellation Brands', 'The Wine Group', 'Treasury Wine Estates', 'Pernod Ricard', 'Diageo', 'Accolade Wines', 'Concha y Toro', 'Viña Concha y Toro', 'Castel Group', 'Bronco Wine Company', 'Trinchero Family Estates', 'Kendall-Jackson', 'Treasury Wine Estates', 'Torres', 'Bacardi Limited', 'LVMH Moët Hennessy - Louis Vuitton SE', 'Remy Cointreau', 'Baron Philippe de Rothschild SA', 'Jackson Family Wines'

As the wine production and consumption have grown rapidly in recent decades, resulting in an increasing consumption pattern. Social interactions, modernization, and the rising acceptance of Western culture are some of the reasons that are driving alcohol socialization among consumers today.

Product Premiumization to Aid Market Expansion: Wine is closely connected with the rich and opulent lifestyle. Consumers in the major developed economies are interested in purchasing a selection of high-quality items on the market. Manufacturers are emphasising the launch of various premium and sensor brands in the market as customers become "wine connoisseurs"- experts in the assessment of taste. Premiumization is an element of continuous consumer trends, generating long-term income from across the world.

The Global Wine Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).

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Global Wine Market Size, Share, Growth Analysis, By Type(Sparkling, Still), By Flavours(Red, White), By Price Range(US$ 5, US$ 5-10), By Distribution Channel(Hypermarkets/ Supermarkets, Convenience Stores), By Source(Organic Wine, Conventional Wine) - Industry Forecast 2024-2031

Global Wine Market News

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