New York, US, March 28, 2023 (GLOBE NEWSWIRE) -- Wine Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Wine Market Information by Wine Type Outlook, Packaging Type Outlook, Distribution Channel Outlook, and Region - Forecast till 2030”, Wine Market could thrive at a rate of 5.95% between 2023 and 2030. The market size will be reach around USD 444.51 Billion by the end of the year 2030.
Market Synopsis
An alcoholic beverage called wine is made through the fermentation process. Rice, fruits like cherries, berries, or pomegranates, grapes, and other ingredients are used to make wine. Drinking wine has many health advantages, including boosting bone density, lowering cholesterol, lowering risk of heart disease, and many more. Consumers worldwide are world are becoming more concerned about their health due to the negative effects of artificial substances and chemicals in wine, which is worrying them and pushing them to select wine made with organic fruits.
Furthermore, the demand for wine with ”low-sugar” or “low-calorie” claims is driven by growing consumer knowledge of the effects of alcohol on health and weight. Global trends like increased modernization and rising alcohol consumption have pushed the alcohol business to introduce brave and innovative new alcoholic beverage varieties. Other than this, the escalating inclination towards functional wine will further stimulate the industry’s growth.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 444.50 billion |
| CAGR | 5.95% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Wine Type Outlook, Packaging Type Outlook, Distribution Channel Outlook, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing consumption of Wine |
| desire for new and exotic flavors |
Market Competitive Landscape:
The affluent companies in the wine industry include
- Accolade Wines (U.K)
- Constellation Brands Inc.(U.K)
- E. & J. Gallo Winery (U.S)
- Treasury Wine Estates (Australia)
- Shanghai Torres Wine Trading Co. Ltd. ( China)
- Vina Concha y Toro (Chile)
- Distell Group Limited (South Africa)
March 2022
The Fayard family and Pernod Ricard announced the signing of an agreement for Pernod Ricard to acquire a majority investment in Château Sainte Marguerite, a Cru Classé Côtes-de-Provence Rosé since 1955, to complete its portfolio of high-end wines.
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Market USP Covered:
Market Drivers:
The wine industry can anticipate a significant expansion in the coming years due to surge in product innovations and their introduction into the market. Due to increasing wine consumption and adopting a new way of life, the CAGR of the global wine market has gradually increased because of this rising demand and consumption.
Market Restraints:
Wines are considered high-quality products that cost much more than regular ones. Global trends including growing modernization and rising alcoholic beverage consumption have compelled the alcohol industry to launch fearless and creative new alcoholic beverages.
Furthermore, the steady shift in customer preferences towards different alcoholic beverages such liqueurs, spirits, beer, and others due to their accessibility at reasonable rates.
COVID 19 Analysis
COVID-19’s impact has given way to numerous repercussions for people worldwide. The aftermath is linked with the significant social and economic burden on people worldwide. Around the world, Due to the compulsory breakdown of on-trade winemakers in several nations, including the United States, the United Kingdom, and India, to stop the virus' spread, the COVID-19 pandemic had a significant impact on the wine industry.
The current circumstance, however, might help the wine business regain lost customer interest. According to the data, total wine volumes are growing year over year as more consumers buy wine to drink with meals at home, primarily in European and North American nations. On the other hand, it is questionable if the current market and off-trade boom will last once pantry stockpiles are exhausted, the on-trade gradually resumes operations, and consumer behaviors returns to pre-COVID-19 levels. For instance, Pernod Ricard partnered with Sovereign Brands in October 2022 to expand its portfolio of high-end wines and spirits.
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Market Segmentation
By Wine Type Outlook
The wine types in the market include red wine, white wine & rose wine, sparkling wine, and others.
By Wine Packaging Type Outlook
Bottles and cans as the top packaging type outlook in the worldwide market.
By Wine Distribution Channel
Food service, as well as retail, are the major distribution channels available in the worldwide market.
Regional Insights
Europe’s Wine market held the largest market share in 2022. The most developed wine market is in Europe, where Portugal, Italy, and France have the greatest annual per capita wine consumption rates. Due to its greater population and significant per capita wine consumption, France has one of Europe’s largest aggregate marketplaces. The greatest wine importers are nations like Germany and the U.K., where wine output is substantially lower than demand. Other than this, the affluent lifestyle led by European customers and social media’s massive popularity in Italy, France, the United Kingdom, and Germany further enhance the appeal of wine.
From 2022 to 2030, the Asia-Pacific Wine Market will experience the fastest CAGR growth. Red wine drinking is a more widespread custom in China, where the color red is thought to bring good fortune. Red wine has one of the biggest markets in China. The accelerated demand or eco-friendly items will be a key trend in the region.
The market for wine in North America, which had sales of USD 296.6 billion in 2022, is anticipated to increase at a substantial CAGR throughout the research period. Due to millennials’ increased interest in trends related to periodization, the region offers significant growth potential.
Discover more research Reports on Food, Beverages & Nutrition Industry, by Market Research Future:
Still Wine Market Research Report Information by Type (White Wine, Red Wine, and Rosé Wine), Distribution Channel (Store and Non-Store), and Region (North America, Europe, Asia-Pacific, Rest of the World)- Forecast till 2027
Global Red Wine Market Research Report: By Type (Sparkling Red Wine and Still Red Wine), Packaging Type (Bottles and Cans), Distribution Channel (Food Service and Retail [Supermarkets & Hypermarkets, Specialty Stores, and Others]), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030
Sparkling Wine Market Research Report: Information by Type (White, Rosé, and Red), Distribution Channel (Food Service and Retail), and Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2030
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