Wine Market Set to Soar Past USD 444.5 Billion by 2030
The global Wine market size is expected to reach USD 444.5 billion by 2030 and exhibit a CAGR of 5.95% in the forecast period (2023−2030), according to Skyquest’s latest research report. The changing consumer preferences and tastes, increasing disposable income and purchasing power, growing wine tourism and experiential consumption, expanding wine production and vineyard areas, rising demand for premium and luxury wines, the growing popularity of wine as a social drink, increased health consciousness and perceived health benefits of moderate wine consumption, globalization and international trade of wines, the rising popularity of wine as a gifting option, are fueling the market’s growth.
Westford USA, Aug. 22, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Wine market, increasing demand for organic and biodynamic wines, the rising popularity of sparkling wines and rosé wines, growing preference for low-alcohol and alcohol-free wines, the emergence of direct-to-consumer wine sales and e-commerce, focus on sustainable wine production and eco-friendly practices, adoption of digital technologies for wine marketing and distribution, expansion of wine tourism and experiential winery visits, shift towards premiumization and luxury wine offerings, exploration of lesser-known wine regions and grape varieties, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Wine Market”
- Pages – 157
- Tables – 93
- Figures – 74
Wine is an alcoholic drink made from fermented grape juice. It is typically red, white, or rosé, and can be dry, sweet, or sparkling. Wine is produced in many countries around the world, and there are many different styles of wine.
Prominent Players in Wine Market
- Trinchero Family Estates
- The Wine Group
- E. & J. Gallo
- Diageo
- Constellation Brands
- Casella Family Brands
- Brown-Forman
- Pernod Ricard
- Bacardi Limited
- Accolade Wines
- Concha y Toro
- Treasury Wine Estates
- Penfolds
- Castel Group
- Yellow Tail
- Beringer Vineyards
- Robert Mondavi Winery
- Chateau Ste. Michelle
- Sterling Vineyards
- Kendall-Jackson
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Red Wine Demand to Grow Substantially in the Forecast Period
Red wine dominated the global market owing to its wide varieties. It is often considered versatile when it comes to food pairing. It pairs well with various cuisines, including red meat, pasta dishes, and aged cheeses. The versatility of red wine in complementing different types of food enhances its appeal and market dominance.
Retail Consumer is the Leading Application Segment
In terms of application, the retail consumer is the leading segment due to the wide consumption. In addition, it has easy access to wine through various distribution channels, including supermarkets, liquor stores, and online retailers. This convenience factor makes it more convenient for consumers to purchase wine for personal use, creating a steady demand in the market.
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Europe is the leading Market Due to the Wide Consumption
Region-wise, Europe is one of the largest growing markets with a huge cultural significance. The region is known for its strict wine appellation systems and quality standards. Appellations such as the Appellation d’Origine Contrôlée (AOC) in France and the Denominazione di Origine Controllata (DOC) in Italy ensure that wines meet specific geographical, varietal, and quality criteria. These systems help maintain consistency, authenticity, and consumer trust, further strengthening Europe’s dominance in the market.
A recent report thoroughly analyzes the major players operating within the Wine market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Wine.
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Key Developments in Wine Market
- E. & J. Gallo Winery announced the acquisition of the wine portfolio of Davide Campari-Milano S.p.A., which includes several fortified wine brands such as Sandeman, Crodino, and Aperol.
Key Questions Answered in Wine Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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