Global Wine Market 2022 – 2030

Reports Description

According to Custom Market Insights (CMI), The Global Wine Market was estimated at around USD 350 billion in 2021 and is projected to witness a CAGR of 5% during 2022-2030, reaching around USD 480 billion by 2030. The report examines the Winemarket’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Wine market.

WineMarket: Overview

An alcoholic beverage called wine is made through the fermentation process. Rice, fruits like cherries, berries, pomegranates, grapes, and other ingredients are used to make wine. Drinking wine has many health advantages, such as boosting bone density, lowering cholesterol, lowering the risk of heart disease, and many more.

WineMarket: COVID – 19Impact Analysis

The COVID-19 situation has significantly impacted the wine business, with different producers in different countries being affected in different ways and having varied perspectives of it as a result. These diverse views are thought to be caused by various business models, which are mostly related to the distribution system used and result in differential distances between producers, distributors, and customers.

The Old World is characterized by upstream integration, whereas the New World employs a downstream business model. Because the New World is more closely connected to distributors and consumers and, consequently, more vulnerable to shocks, there should be a greater perceived impact of the COVID-19 crisis in the New World.

WineMarket: Growth Drivers

Rising demand for exotic wine and its health benefits

The prominent drivers of the market’s expansion are urban consumers’ growing preference for exotic wines and increased alcoholic beverage consumption. Other significant elements that affect market growth include changing and evolving lifestyles, increased e-commerce platform penetration, particularly in developing economies, rising public awareness of the advantages of wine consumption, and increasing the number of eateries, lounges, and social clubs. Increased demand for alcohol-based drinks with fewer calories, rapid advancements in packaging technology, and an increase in the premiumization of wine products worldwide will all contribute to market value growth.

Product premiumization

Product premiumization is one of the key elements predicted to drive the fortified wine market’s growth in the next years. Top market players focus on creating new flavored fortified wines to meet shifting consumer expectations. Wines that include marijuana are becoming increasingly popular, especially in countries like the U.S. It may be the most important trend affecting the global market for alcoholic beverages. Markets worldwide saw customers upgrading to more expensive goods in various categories. In established markets like the United States, this trend is widespread. Consumers are eager to try new and intriguing alcoholic drinks.

WineMarket: Segmentation Analysis

The wine market is segmented into product and distribution channels in our research scope. Based on product, table wine is estimated to dominate the wine market in 2021. New customers frequently prefer table wines because of their low cost and accessibility through retail.

The consumption of alcohol has changed due to changing lifestyles, moving away from hard liquor and toward light alcoholic drinks like beer, wine, and seltzers. This tendency is important for drawing in new customers, contributing to the increasing market demand.

Further, the sparkling wine segment is projected to witness tremendous growth from 2022 to 2030. The demand for the segment has been driven by rising consumer interest in spritz drinks and the spread of aperitivo culture in the European region. Leading brands in the U.S., including La Marca Prosecco, Mionetto, Zonin, and Ruffino Prosecco, saw growth rates between 2017 and 2019 that ranged from 10% to 15.4%.

Report Scope

Key Insights:

• As Per the analysis shared by our research analyst, the Wine market is estimated to grow annually at a CAGR of around 5%over the forecast period (2022-2030).
• In terms of revenue, the wine market was valued at around USD 350 billion in 2021 and is projected to reach USD 480 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The Wine market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
• The study includes data on the major market drivers, challenges, opportunities, and their effects.
• The study elaborates on the SWOT analysis and Porter’s Five Forces model.
• The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.

 Recent Development

• August 2022: Constellation Brands paid an unknown sum for a minority investment in the premium canned wine company Archer Roose.
• August 2022: Endeavour Group, an Australian alcoholic beverage retailing and hospitality company, has announced the purchase of Shingleback Wine in McLaren Vale, South Australia.
• December 2021: The completion of the acquisition of over 30 wine brands from Constellation Brands Inc. was announced by E. & J. Gallo Winery (Gallo). The FTC approved Gallo and Constellation to close their contract in December 2020.

Regional Landscape

In 2021, Europe had the highest share, with almost 45%. The most developed wine market is in Europe, where Portugal, France, and Italy, are among the nations with the highest annual per capita wine consumption rates. Due to its greater population and significant per capita wine consumption, France has one of the largest aggregate marketplaces in Europe. The greatest wine importers are nations like Germany and the U.K., where wine output is substantially lower than demand.

Moreover, the Asia Pacific wine market is anticipated to notice a high CAGR from 2022 to 2030. Because the color red is auspicious in China, it should be noted that drinking red wine is more of a custom in the country. This makes China one of the biggest consumers of red wine, challenging France and Italy for first place in the market. Following Japan in terms of wine consumption in the Asia-Pacific is Australia. India is also the fastest-growing wine consumer, with a growth rate of about 7%. The other possible wine-consuming markets in the Asia-Pacific region include the Philippines, South Korea, and Vietnam. The market is stimulated by Hong Kong’s absence of a wine import tax.

Competitive Landscape

Due to the large number of domestic and international businesses operating in many nations, the wine market is very competitive. Constellation Brands Inc., E. & J. Gallo Winery, and The Wine Group LLC are the market’s leading businesses. Due to their extensive range of wine prices, these businesses enjoy a considerable market share. Every region has several domestic competitors with strong distribution networks, so international companies vying for a larger market share favor acquiring them. Companies also pursue new product development because product differentiation broadens their customer base.

List of the prominent players in the global Wine market:

• The Wine Group
• International Beverage Holdings
• John Distilleries
• Halewood Wines International
• Asahi Group Holdings Ltd.
• Sula Vineyards Pvt. Ltd.
• Beijing Yanjing Beer Group Corporation
• Accolade Wines
• Castel Frères
• Constellation Brands
• PernodRicard
• Treasury Wine Estates (TWE)
• & J. Gallo Winery

The global Wine market is segmented as follows:

By Product

• Table Wine
• Sparkling Wine
• Dessert Wine

By Distribution Channel

• On-Trade
• Off-Trade

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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