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Wine Market by Type (Sparkling, Still, Others), by Flavor (Red, White, Rose), by Distribution Channel (On-Trade, Off-Trade), and Region - Global Analysis of Market Size, Share & Trends for 2021-2022 and Forecasts to 2032
Wine is an alcoholic drink prepared from fermented grapes. The sugar in the grapes is absorbed by the yeast, which is then broken into carbon dioxide and ethanol while creating heat at the same time. Most often, different grape varieties and yeast strains are used to make different types of wines. The complex connections between the biological development of the grape, the reactions to fermentation, the environment in which the grape is cultivated, and the wine-making techniques are the cause of these variances. Wine has a broad variety of variants, fascinating qualities, and is refined and elegant. Since numerous varieties of vineyards can be found even within the same state, there is always something new to discover. This variety of diverse flavors is unique to wine.
MARKET HIGHLIGHTS
Wine to surpass USD 671.3 b4illion by 2032 from USD 392.46 billion in 2021 at a CAGR of 5.0% in the coming years, i.e., 2022-32. The market is mostly being pushed by the rising acceptance of wine among people of all ages, from young to old. Moreover, due to rising consumer incomes and better lifestyles everywhere, more individuals are selecting better lifestyles. Since more people are drinking fine wine, there is a growing demand for coastal wine. Owing to the availability of a wide range of wine products and the rising usage of social media, the demand for white and red wine is rising. This is expected to help the global Wine Market flourish considerably.
Wine Market is categorized on the basis of Type into Sparkling, Still, and Others. Still wine is the oldest and most popular kind of alcoholic beverage in the world. In Europe, still wine is used as table liquor and is one of the most consumed and easily available alcoholic beverages. This type is a beverage that can be enjoyed both on its own and in cocktails because it is becoming more and more associated with various events and food items. Due to its genuine taste offers and premium appeal to consumers, the sales of still wine have surged on the global Wine Market.
Wine Market is categorized on the basis of Distribution Channel into On-Trade and Off-Trade. The off-trade distribution channel is among the finest options for bringing a product to market. Shops including supermarkets, petrol stations, specialty stores, and others are examples of off-trade channels. Since they provide a broader variety of goods at lower prices than pubs, restaurants, and other on-trade businesses, retail counters are gaining popularity all over the world. Investors are placing a lot of emphasis on the development of modern companies and useful retail locations to offer straightforward shopping at affordable prices in the market, which is bringing in a lot of money.
The increasing consumption of wine by people of all ages, from the young generation to the old population globally, is the main factor driving market growth. Moreover, there has been a significant change in consumers’ purchasing behavior. Since restaurants, hotels, and bars are closed or only partially open, customers have turned to food vendors and internet marketplaces for their purchases. Direct-to-consumer sales have increased as a result of this shift in consumer behavior, and the specialty Wine Market has also seen minor sales growth.
To gain a larger share of the market, manufacturers are focusing on developing new e-commerce platforms and forming alliances. Increased e-commerce distribution networks and technology improvements are also expected to promote future growth. Purchasing alcohol has been a more common decision in recent years. This tendency is expected to persist during the projected period. Prompt home delivery, a convenient shopping experience, selection of deals, and other benefits are offered to customers through e-commerce. Therefore, the online sales channel is crucial in bigger markets.
High production costs will impact in high wine pricing, which will pose a substantial barrier to the market growth. Government regulations that are too severe and the high tax load will slow down the rate at which the market grows. Market growth is also hampered by the growing number of alternatives and the health dangers associated with excessive consumption.
WINE: KEY PLAYERS
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Wine Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Since Europe region has a sizable and established wine sector, it held the largest proportion. Also, some countries in the region have the highest per capita wine consumption rates.
The fastest CAGR is anticipated to be registered by Asia Pacific. Japan, China, and South Korea are the main consumers of wine in Asia Pacific, which is the third-largest region by volume. Due to its sizable client base, rising disposable incomes, and ideal climatic conditions for wine development, particularly in China, the region has a lot of potential.
Global beverages markets, and this wine sector in particular, have undergone a dramatic upheaval as a result of the COVID-19 epidemic. The widespread shutdown of numerous sites and the resulting restrictions on public transportation impacted the distribution networks throughout the world. As they were typically ordered in bars, restaurants, or at weddings, and special occasions, sparkling wine was impacted more negatively in nations like the China and United Kingdom.
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REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 392.46 billion |
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Revenue Forecast in 2032 |
USD 671.3 billion |
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Growth Rate |
CAGR of 5.0% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD million and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Type, Flavor, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled
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Asahi Group Holdings Ltd, Beijing Yanjing Beer Group Corporation, Pernod Ricard, Constellation Brands, E. & J. Gallo Winery, The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Castel Frères, Accolade Wines, Treasury Wine Estates (TWE), Global Drinks Finland, Torres Wines, and Other Prominent Players. |
The Wine Market size was estimated at USD 392.46 billion in 2021 and is expected to reach USD 671.3 billion in 2032.
Wine is an alcoholic drink prepared from fermented grapes. The sugar in the grapes is absorbed by the yeast, which is then broken into carbon dioxide and ethanol while creating heat at the same time.
The Still and Off-Trade segments accounted for the larger share of the Wine Market.
Key players in the Wine Market are Asahi Group Holdings Ltd, Beijing Yanjing Beer Group Corporation, Pernod Ricard, Constellation Brands, E. & J. Gallo Winery, The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Castel Frères, Accolade Wines, Treasury Wine Estates (TWE), Global Drinks Finland, Torres Wines, and Other Prominent Players.
The Wine Market is being driven substantially by the growing popularity of wine among all age groups. Moreover, more people are choosing better lifestyles due to increased incomes of consumers, and improved lifestyles everywhere, thus affecting the growth of the Wine Market.
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