Global Wine Market Size By Type (Sparkling, Still), By Flavors (Red, White, Rose), By Distribution Channel (On Trade, Off Trade), By Geographic Scope And Forecast

Wine Market Size And Forecast

Wine Market size was valued at USD 322.05 Billion in 2020 and is projected to reach USD 455.01 Billion by 2028, growing at a CAGR of 4.46% from 2021 to 2028.

The increasing adoption of wine among all age groups, from the young generation to the aged population across the globe, is the key factor driving the market growth of the Wine Market. The Global Wine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Wine Market Definition

Wine is an alcoholic beverage derived from grapes by fermentation, where sugar and yeast combine and produce alcohol and carbon dioxide. This fermentation process, along with the availability of yeast and sugar, gives around 15% of alcohol. There are six processes involved in the production of winedestemming and crushing, alcoholic fermentation, drawing the wine off the lees, malolactic fermentation, stabilization and aging, and refinement in the bottle. The quality of wine increases with the time of aging. There are three major types of wine availablestill, sparkling, fortified wine, and others.

Hey there wine enthusiasts! According to the experts at the U.S. Department of Health and Human Services, a regular wine glass should hold about 5 ounces. That's a perfect amount that leaves room for refills with most bottles. Now, let's talk about temperature. Red wines like it a bit cooler than room temp, between 62 and 68 degrees Fahrenheit. White wines, on the other hand, prefer a warmer spot, around 49 to 55 degrees Fahrenheit. As for the pH level, which basically tells us how acidic the wine is, it can range from 3 to 4 for wines in general. Red wines with higher acidity tend to have a lively ruby red hue, while lower acidity gives them a more reddish brown tone. For those reds that are less acidic, you might notice a bluish or purplish tint.

Global Wine Market Overview

The increasing adoption of wine among all age groups, from the young generation to the old age population across the globe, is the essential factor for market growth. The COVID-19 pandemic has disrupted the global wine distribution channel due to the extensive closure of and restrictions on hotels and restaurants worldwide. But, there has been a change in the purchasing behavior of consumers. Consumers have shifted towards food retailers and online portals to shop for the product. Direct-to-consumer sales have helped consumer behavior, with specialist wine trade even getting some growth in sales.

Other factors expanding the food and beverages industry the increasing population across the globe are the significant factors increasing the growth of the Wine Market. Consumption of wine brings along an expansive range of benefits like improving bone density, lowering the risk of heart disease, and decreasing cholesterol levels. Increasing preference for exotic wine in the urban areas increasing the demand for alcoholic beverages are the major factors boosting the market’s growth.

The wine market is soaring thanks to lifestyle changes, the boom of online shopping in developing nations, and a growing appreciation of wine's benefits. More restaurants, bars, and clubs are also fueling the demand. To add to this, the popularity of low-calorie alcoholic beverages, advances in packaging, and the growing trend of savoring premium wines worldwide are giving the industry a boost. However, there are some obstacles to this rosy picture. Rising production costs are pushing up wine prices, making it a challenge for some consumers to afford. Additionally, strict government regulations and high taxes can hamper the market's growth.

Global Wine Market Segmentation Analysis

The Global Wine Market is segmented on the basis of Type, Flavors, Distribution Channel and Geography.

Wine Market, By Type

• Sparkling• Still• Others

Based on Type, The market is segmented into Sparkling, Still, and Others. The still wine segment holds a large number of shares in the market because it is the most famous and preferable wine sold across the globe. The shift from problematic liquor consumption to mild alcoholic drinks, like beer, wine, and seltzers, and change in lifestyles increase the demand for the segment. Sparkling wine is the fastest-growing segment in the market. Because changing consumer interest in spritz beverages and propagation of aperitivo culture in the countries are increasing the market growth of the Wine Market.

Wine Market, By Flavors

• Red• White• Rose

Based on Flavors, The market is segmented into Red, White, and Rose. The red wine holds a large number of shares in the market because of changes in consumer’s preferences and changing consumer’s lifestyles with an increase in awareness regarding health concerns are the factor increasing the market growth in the segment. At the same time, rose wine is the fastest-growing segment in the market due to low-containing alcohol and females’ preferable beverages increasing the market growth of the Wine Market.

Wine Market, By Distribution Channel

• On Trade• Off Trade

Based on Distribution Channel, The market is segmented into On Trade and Off Trade. The off-trade segment holds a large number of shares in the market because of increasing sub-segment like retail outlets, supermarkets, and hypermarkets. Whereas The on-trade distribution channel is the fastest-growing segment in the market. Rapidly changing culture among the younger and working-class population is propelling the Wine Market’s growth.

Wine Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Wine Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The European region holds many shares in the market. Due to an increase in the consumption of wine with an increase in the population. Whereas the Asia Pacific is the fastest-growing region in the market because of the rise in consumers’ income and suitable climatic conditions for wine cultivation, mainly in China, are the factors propelling the market growth of the Wine Market.

Key Players

The “Global Wine Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are AMVYX, Accolade Wines, Castel Group, BACARDI, The Wine Group, Pernod Ricard, Davide Campari-Milano S.p.A., John Distilleries India, Constellation Brands Inc., and Compagnia del Vino. 

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• On February 2020, India got its first canned wine in the brand name of Dia Sparkler. The new canned wine was launched by Sula Vineyards, one of India’s most famous wine brands, in leading stores across India.

• On August 2020, Californian winery Limerick Lane Cellars launched a new wine brand in the United States, packaged in aluminum bottles.

• On July 2021, Randall Grahm partners with Gallo on the Rhône varieties project. The range of California Central Coast wines will be called The Language of Yes in southern France.

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Hi there, I've got some exciting insights on the market for you We've analyzed the market in detail, considering both the money side and other important factors. We've broken down the market into different parts and provided the value of each section in dollars. We've identified the region and specific part of the market that's growing the fastest and is likely to lead the pack. We've looked at how the market is spread out across different regions, including what people in each area are buying and what's influencing their choices. We've checked out who the top players are in the market, along with any new products or services they've released, partnerships they've formed, and acquisitions they've made. We've put together detailed profiles of the major players, including information on their history, financial performance, key products, and strengths and weaknesses. We've explored the latest trends in the market and identified opportunities for growth, as well as any challenges that companies may face. We've used Porter's Five Forces analysis to give you a deeper understanding of the market dynamics. We've examined the value chain to provide insights into how the market operates. We've outlined the growth prospects for the market and highlighted potential opportunities in the coming years. And if you need any follow-up, I'm happy to provide analyst support for the next 6 months.

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