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.

According to the report of the U.S. Department of Health and Human Services, the suggested serving size for a standard glass of wine is 5 oz. This amount will cozy fit the vast bulk of wine glasses and will allow you to enjoy multiple drinks from nearly any kind of wine bottle. The red wines are cooler than room temperature, between 62–68 degrees F (15–20 °C). The white wines are relatively warmer than the fridge temperature, between 49-55 degrees F (7–12 °C). The pH level of wine varies from 3 to 4. Red wines with a higher acerbity and a bright ruby color, whereas the lower pH gives them a red shade. Higher pH, less-acidic red wines provides a blue or purple 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.

Switching and increasing adoption lifestyles, growth in the penetration of e-commerce platforms in the developing countries, raising awareness among the population about the advantages of consuming wine, and the growing number of restaurants, lounges, and recreational clubs are the factors increasing the growth of the Wine Market. Increasing demand for low-calorie alcohol-based drinks improving packaging technology, and rising premiumization of wine products across the globe are the factor boosting the market growth. Regardless, increased prices of wines due to increased production costs are a challenge for the market’s growth. The government’s strict rules and regulations and heavy taxes hinder the market 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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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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