The global Wine market worth US$ 846.3 Bn by 2032, growing at a CAGR of 5.1%
Key factors driving the global wine market growth are increasing number of wine consumers due to changing lifestyle as well as rising income of people. On the other hand, growing wine prices owing to high cost of production is a major restraint towards wine market growth in upcoming years. Furthermore, stringent government rules & regulations as well as rising taxes imposition are challenging the market growth.
The global wine market has been segmented by different color, product type, distribution channel and geography. Further, color segment of the market is bifurcated into red wine, rose wine, white wine and others. Red wine division of the segment leads the market and is expected to do so over the forecast spell. On the basis of product type, wine market is sub-divided into sparkling wines, still wines, dessert wines as well as fortified wines. Still wines section of the division will likely dominate the market, however sparkling wines section is anticipated to grow rapidly owing to its rising demand as celebration wine. As per the, distribution channel the global wine market is sub-segmented into supermarket & hypermarket, convenience stores, specialty stores, online channel and others. However, supermarket & hypermarket section is estimated to rule the wine market across the globe over the forecast period.
Geographically, global wine market is categorized into several key regions Europe, North America, Asia-Pacific, Latin America and Middle East & Africa. North America is expected to lead the market with major wine market share over the forecast period owing to increasing wine production in the region. However, market in Europe is anticipated to show steady growth.
Some of the key players operating in the competitive edge of the global wine market include E & J Gallo Winery, Torres, Vina Conch y Toro, Treasury Wine Estates, Distell Group, International Beverage Holdings, Global Drinks Finland, John Distilleries, Accolade Wines, Soyuz Victan & SPI Group, Constellations Brand and The Wine Group. Moreover, prominent players in the market are continuously looking forward for enhancing their product in order to meet the demands of their customers.
Wine Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||US$ 846.3 Bn|
|Growth Rate||CAGR of 5.1% during 2021-2032|
|Segment Covered||By Distribution Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Asahi Group Holdings, Ltd.; Beijing Yanjing Beer Group Corporation; The Wine Group; Castel Frères; Accolade Wines; Constellation Brands; Treasury Wine Estates (TWE); Pernod Ricard; E. & J. Gallo Winery; Viña Concha y Toro|
Key segments of the global wine market include:
- Color Segment
- Red wine
- Rose wine
- White wine
- Product type Segment
- Sparkling wines
- Still wines
- Dessert wines
- Fortified wines
- Distribution channel Segment
- Supermarket & hypermarket
- Convenience stores
- Specialty stores
- Online channel
- Geographical Segmentation
- North America
- Latin America
- Middle East & Africa