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

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.