The Global Wine Market reached USD 402.5 billion in 2022 and is expected to reach USD 603.7 billion by 2030 and grow with a CAGR of 5.2% during the forecast period 2023-2030. The rising usage of wine among all age groups, from the young generation to the old age all across the globe, is a critical factor for wine market growth. Competitive rivalry intensifies Castel Freres, Pernod Ricard, Constellation Brands and others operating in the market.
In developed economic communities, consumers are growing preferences for various quality products. Wine tasting at the consumer level though generally far less exacting than that performed by wine professionals, has increased with the growing popularity of wine as a beverage and the resulting expansion of wine production worldwide. The launching of premium and sensorial brands attract these types of customers. For instance, Fratelli Wines are considered a premium type of wine in India.
The change in the taste and preferences of consumers in the global wine market and increasing demand for new and exotic flavors, such as Riesling wine and other tropical fruit wines and grape varieties in winemaking. The terroir is given high importance in viticulture. The market players are forming acquisitions for better market share. For instance, in October 2022, Pernod Ricard announced a partnership with Sovereign Brands to strengthen its portfolio of luxury wines and spirits.
Metrics |
Details |
CAGR |
5.2% |
Size Available for Years |
2021-2030 |
Forecast Period |
2023-2030 |
Data Availability |
Value (US$) |
Segments Covered |
By Product Type, By Distribution Channel |
Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
Fastest Growing Region |
Asia-Pacific |
Largest Region |
Europe |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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The consumption of alcohol is becoming a sign of social status. Alcohol makes it easier for people to socialize. Wine has a significant social influence on the global population. People prefer alcohol as it induces relaxation and reduces stress and anxiety. The wine’s role has transformed over time, moving from an essential source of nutrients to a cultural complement to food and conviviality.
Wine is considered a cultural symbol in many regions, especially in Europe. For perfect wine-making, manufacturers pay more attention to the conditions of the vineyard, wine production, wine aging, and wine fermentation. With the massive adoption of alcohol among millennials and youngsters, alcohol consumption has increased. It is associated with several occasions and served as a table drink in many regions. Wine consumption is now considered a wealthy and luxurious lifestyle for consumers.
E-commerce is a larger market. It is helpful for both business people and the consumer to explore the market. It allows manufacturers to reach customers worldwide. The business people can include more information like reviews and demo videos of the product to increase the customer’s interest in the development, thus creating more selling opportunities. There is no longer a need for big-budget spending on TV ads and others because of the advancement of e-commerce platforms.
Many e-commerce platforms are available for consumer usage with exciting offers and discounts. The products are available at lower costs. Many wine brands are available on single websites for consumers to explore and compare the prices and labelings of different wines. The offers, discounts, coupons, convenience, low costs, and other e-commerce benefits drive the wine market expansion.
Alcohol consumption causes many adverse effects on health. It causes high blood pressure, heart disease, pancreatitis, and digestive problems. Heavy consumption of alcohol even causes liver damage. Drinking heavily reduces the body’s natural immune system. According to WHO, alcohol consumption causes death and disability relatively early in life. In people aged 20–39 years, approximately 13.5% of total deaths are attributable to alcohol.
People are becoming health conscious and prefer to have a healthy lifestyle. Most people are adopting non-alcoholic beverages due to health concerns. There is also a gradual shift in consumers' preference towards various alcoholic drinks due to their economic status. They are embracing less expensive beverages than costly wine.
The global wine market is segmented based on product type, distribution channel, and region.
The global wine market has been segmented by product type into sparkling wines, still wine, fortified wine, and dessert wine. The sparkling wine segment held the most significant wine market share of 38.8% in 2022 in the wine market analysis report. The sparkling wine segment is sub-segmented into champagne, prosecco, and others.
The health benefits provided by sparkling wines are driving the segment’s growth. Sparkling wine improves heart health, and it is good for the skin. Sparkling wine can help improve gut health. It contains polyphenols from red grapes, which promote the growth of good gut bacteria. The gut microbiome is necessary for fitness and overall well-being.
The global wine market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The Europe wine market held the largest market share of 38.6% in 2022 in the wine market analysis. Wine consumption in Europe comes from ancient traditions.
Wine and other alcoholic drinks have been trendy in Europe since ancient times. They are genetically programmed to drink more alcohol than other regions. They enjoy drinking wine as a social activity. According to the 2021 European health report by the WHO, in Europe, the average consumption of wine is about eighty liters.
The major global players in the market include Castel Freres, Pernod Ricard, Constellation Brands, EJ Gallo, Treasury Wine Estate, Vina Concho Y Toro, Accolade Wines, Grupo Penaflor, Fecovita C0-0p, and The Wine Group.
The unprecedented COVID-19 pandemic in 2020 profoundly affected the wine industry. Covid-19 has considerably impacted the global beverage supply chain phases involving wine production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the beverage industry as well. The COVID-19 pandemic is upending life, and the beverage sector is seeing increased trends like wine. The beverage businesses are launching innovative programs, including fortified wines, which are readily available and straightforward to consume.
By Product Type
By Distribution Channel
By Region
The Global Wine Market report would provide approximately 53 tables, 47 figures and 158 Pages.
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