USD 263.8 billion
Wine Market Size, Share, Growth Analysis, By Type(Sparkling, Still, Others), By Flavours(Red, White, Rose), By Price Range(US$ 5, US$ 5-10, US$ 10-15, above US$ 15), By Distribution Channel(Hypermarkets/ Supermarkets, Convenience Stores, Specialty Stores, Pubs/Bars/ Restaurants), By Source(Organic Wine, Conventional Wine), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30F2042 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
147
|Figures:
78
Wine Market Insights
Wine Market size was valued at USD 263.8 billion in 2019 and is poised to grow from USD 296.6 billion in 2023 to USD 444.5 billion by 2031, growing at a CAGR of 5.95% in the forecast period (2024-2031).
Wine is an essential aspect of the European civilization, and this has been influencing other cultures of the world. Mostly young population consume wine as part of their diet, respective of home parties, and social occasions. Over the projected period, these consumer trends are likely to drive market expansion. The demand and consumption have remained stable in the majority of global economies. During the outbreak of Covid-19, the wine industry came to a standstill. However, with the relaxation of quarantine regulations and the shift of consumers toward online purchase, the industry is expected to resume its normal development rate.
Due to its flavour and refreshing features, the wine sector offers consumers the pleasure of alcohol without any hazards and relaying significant appeal. Because of the relaxation of trade taxes and tariff barriers, the beverage has become an essential commodity and is also gaining appeal in the international market. The growing tendency of people socialising with alcohol, along with the introduction of low alcohol-by-volume (ABV) beverages for the working population is driving the market expansion.
US Wine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
alcoholic beverage
Growth Rate
5.95% CAGR
Global Wine Market ($ Bn)
Country Share for Europe Region (%)
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Wine Market Segmental Analysis
Global Wine Market is segmented based on the type, flavour, price range, source, and distribution channel, and region. Based on type, the market is segmented sparkling, still, and others. Based flavor, the market is segmented into red, white, and rose. Based on price range, the wine market is categorized into below US$ 5, US$ 5-10, US$ 10-15, and above US$ 15. Based on source, the wine market is segmented into organic wine and conventional wine. Based on distribution channel, the wine market is segmented into hypermarkets/ supermarkets, convenience stores, specialty stores, pubs/bars/ restaurants, online retailers, and other sales channel. By region, the Wine Market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Wine Market Analysis by Type
Still wine is the world's oldest and most popular type of alcoholic beverage. It is one of the most popular and commonly accessible alcoholic beverages consumed as table liquor in European nations. Because of the growing association of this kind with various events and meal portions, it has become a flexible drink that can be enjoyed in cocktails as well as on its own. The combination of authentic flavour and premiumized appeal to customers has resulted in increased sales in the worldwide market.
Sparkling wine, on the other hand, is blossoming with enormous potential all over the world, thanks to its effervescent features that make it unique in spectrum. Consumers in developing nations are drawn to novel products such as this drink, which provides desirable sensory characteristics and mouthfeel.
Wine Market Analysis by Flavour
Red wine has been consumed for many years and is still a famous drink that is popular worldwide. The drink is recognised to have several health benefits, including as antioxidants. Several in-vitro investigations have shown that consuming booze in moderation can help people improve their lifestyle. It also has a luxury appearance and is readily available to consumers. As a result of combining both health benefits and exquisite flavour, red wine has emerged as a prominent category and is expected to develop even more in the next years.
Rosé wines from France's Provence, Italy, and Spain will continue to gain appeal in the coming years. They are extremely adaptable and light, with the freshness of white wine yet the body and fruit of red wine. This medium-sweet wine has a modest alcohol content and is easy to drink. It has a pleasant aroma and is popular with female drinkers in particular. As women continue to be interested in booze, the rose category is expected to increase significantly throughout the projected period.
Global wine Market By Application
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Wine Market Regional Insights
The Global Wine Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
Europe is predicted to have the highest share since it has one of the most appealing product choices, as evidenced by the fact that it is the world's largest consumer and accounted for a substantial proportion in 2022. It has always been intertwined with specific cultures and situations that include the product as a sign of celebration. This is one of the primary growth pillars of the region's market. This product's growing popularity is linked to the increased acceptability of low ABV beverages among the young working population in their demanding daily routines. As a result, the market demand encourages producers to launch new and inventive items.
North America is the second-largest market in the global wine market. The region offers enormous development potential, thanks to millennials' increased preference for premium products. According to the Wine Institute, despite the dramatic shutdown of on-premise sales during COVID-19, California market sales reached USD 40 billion.
Asia Pacific is expected to account for a large portion of the global market. This is attributable to customers' increased acceptance of western influence patterns and consumption of a variety of regional cuisines. Domestic vineyards have proliferated in China in recent years. Local grape producers, on the other hand, receive temporary assistance from the government in the form of nursery imports, technological training, water supply, road restoration, and electrical infrastructure projects. With Chinese buyers' growing desire for domestic goods, these wineries are projected to contribute to the Asia’s market growth.
Global Wine Market By Region
- Largest
- Fastest
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Wine Market Dynamics
Wine Market Driver
Increasing Consumer Alcohol Socialization to Aid Wine Market Growth
- As the wine production and consumption have grown rapidly in recent decades, resulting in an increasing consumption pattern. Social interactions, modernization, and the rising acceptance of Western culture are some of the reasons that are driving alcohol socialization among consumers today.
- Alcohol intake is becoming a social status symbol, which is fueling the market growth for low alcoholic beverages. Because of its refreshing appeal and low ABV options, it has a huge popularity with millennials.
- It is commonly connected with many occasions and is offered as a table drink alongside ordinary cuisine in several countries. This rising demand encourages producers to create and introduce new items into the market, ensuring its future market growth.
Wine Market Restraint
Consumer limit demand for premium products is expected to slow down the market expansion
- Growing modernisation and increased alcohol use are global trends that have prompted alcohol companies to introduce creative and daring alcoholic beverage varieties.
- Because of their low pricing, customers' tastes are following the regular wine industry and looking for affordable products
This can have a negative impact on the premium wine industry
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Wine Market Competitive Landscape
Existence of multiple important competitors in the industry, the competitive landscape of this market is somewhat fragmented. The market is distinguished by the presence of a few well-established businesses as well as numerous small and medium-sized players. Mergers, acquisitions, and collaborations have happened between wineries all over the world. For example, Familia Torres, a Spanish liquor maker, expanded Priorat wine line with the release of a new sumptuous red wine in 2021.
Wine Market Top Player's Company Profiles
- E & J Gallo Winery
- Constellation Brands
- The Wine Group
- Treasury Wine Estates
- Pernod Ricard
- Diageo
- Accolade Wines
- Concha y Toro
- Viña Concha y Toro
- Castel Group
- Bronco Wine Company
- Trinchero Family Estates
- Kendall-Jackson
- Treasury Wine Estates
- Torres
- Bacardi Limited
- LVMH Moët Hennessy - Louis Vuitton SE
- Remy Cointreau
- Baron Philippe de Rothschild SA
- Jackson Family Wines
Wine Market Recent Developments
- In October 2022, RIMOWA ties up with Wine Access in an innovative cross-disciplinary collaboration to commemorate the imminent debut of their Twelve Bottle Case, designed to transport and preserve wine bottles on the go.
- On June 2022, WineCap, a fine wine investment platform, announced the launch of Wine Track, the market's most comprehensive index, which enables investors to identify the right, undervalued wines to buy and sell across the global market at the right time and price.
- In July 2021, The E. & J. Gallo Winery Group, a global leader in the liquor and beverages sector, and Randall Grahm, a famed winemaker and visionary, have announced the introduction of "The Language of Yes," a collection of wines. The new collection is inspired by Southern France's rich winegrowing tradition.
Wine Key Market Trends
- Product Premiumization to Aid Market Expansion: Wine is closely connected with the rich and opulent lifestyle. Consumers in the major developed economies are interested in purchasing a selection of high-quality items on the market. Manufacturers are emphasising the launch of various premium and sensor brands in the market as customers become "wine connoisseurs"- experts in the assessment of taste. Premiumization is an element of continuous consumer trends, generating long-term income from across the world.
- Wine tourism to empower adoption: Wine tourism is getting popular as manufacturers have turned wine distilleries into tourist spots. In addition, with the rise in consumers visiting vineyards to understand the wine preparing process and distribution will add more to the consumer interest. Therefore, increase in travel and tourism in the food & beverage industry is expected to create more avenues for market growth.
Wine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Wine Market analysis, in 2021, the Wine market was dominated by type like sparkling and still wine and the trend of premiumization is expected to continue. The availability of a diverse range of wine products, combined with increased social media penetration, is growing demand for white and red wine. This is projected to help the global wine industry flourish. Furthermore, a greater emphasis on inventive work has aided in the enhancement of wine blends by exploring new paths for fresh flavours. This is increasing the wine industry's coastal market share. As a result of the spread of various wine products, the maturing interaction and assimilation of various aspects in wine production has increased.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 263.8 billion |
| Market size value in 2031 | USD 444.5 billion |
| Growth Rate | 5.95% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Wine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Wine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Wine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Wine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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