Dublin, May 16, 2024 (GLOBE NEWSWIRE) — The “Wine – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Wine Market to Reach $528.3 Billion by 2030
The global market for Wine estimated at US$385 Billion in the year 2023, is projected to reach a revised size of US$528.3 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2023-2030.
The wine sector, although niche within the global alcoholic beverages sector, is influenced by a multitude of factors shaping its consumption patterns. While Europe remains a core region for the industry, substantial opportunities are identified outside of Europe. However, the sector faces several challenges, including a declining image among health-conscious consumers, climate extremes affecting production, counterfeit wines, and anti-alcohol campaigns and legislations.
Still Wine, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$273.7 Billion by the end of the analysis period. Growth in the Sparkling Wine segment is estimated at 4.9% CAGR for the next 7-year period.
Competition is fierce, with wineries deploying various strategies such as collaborations, aggressive marketing, and new product launches to succeed in the market. Enhancing taste, flavor, and quality remains a priority, while private label wines pose stiff competition to industry leaders in matured markets. The global key competitors’ percentage market share in 2024 provides insights into the market structure and competitive dynamics.
The U.S. Market is Estimated at $101.5 Billion, While China is Forecast to Grow at 7.2% CAGR
The Wine market in the U.S. is estimated at US$101.5 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$116 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$73 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 451 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $385 Billion |
| Forecasted Market Value (USD) by 2030 | $528.3 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Alcoholic Beverages: An Introductory Prelude
- Recent Market Activity
- Wine: A Niche Category within the Global Alcoholic Beverages Sector
- Wine Sector – Influenced by Myriad Factors
- Mixed Trend in Wine Consumption Patterns
- Diverse Range of Products Enhance the Addressable Market
- Europe: Core Region for the Global Wine Industry
- Wine Sector Identifies Substantial Opportunities Outside Europe
- Global Market Outlook
- Issues & Challenges
- Declining Image of Alcohol Drinks among Health-Conscious Consumers
- Climate Extremes Influence Wine Production
- Counterfeit Wines
- Anti-Alcohol Campaigns and Legislations
- Competition
- Market Structure
- Wineries Deploy Various Different Strategies
- Collaborations – Key to Market Success
- Aggressive Marketing & Promotional Campaigns
- New Product Launches: A Key Business Strategy
- Enhancing Taste, Flavor and Quality Remains a Top Priority
- Private Label Wines Give Stiff Competition to Leaders in Matured Markets
- Wine – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- New World Wines Make Robust Gains
- Old World Wines Remain Major Segment
- Still Wines: The Dominant Segment
- Sparkling Wine Evolves into A Niche Category
- Diverse Line of Products: Key Trait of Sparkling Wine Market
- Champagne: Highly Distinguished Sparkling Wine
- Prosecco’s Phenomenal Performance
- New Variants Aim to Penetrate the Market
- Rose Wine Set to Expand Market Share
- Natural Wines Gain Traction
- Organic Wine: The New Growth Vertical
- Rice Wine Seeks Global Audience
- Fortified Wines Gain Traction among Heavy Drinkers
- Preference for Premium Wines Soars
- On-Trade Channel: A Potential Revenue Generator
- Wine Sales Remain High in Off-Trade Channel
- Retail Stores: The High-Volume Distribution Medium
- E-Commerce Evolves into High-Potential Sales Vertical
- Social Media Emerges as New Promotion Tool
- Wine Market Sees Packaging Diversification
- Bag-in-Box for Extended Shelf Life
- Canned Wine: The New Fad
- Bourbon Barrels: The Upcoming Wine Aging Method
- Precision Agriculture Methods & ‘Tech’ Innovations to Aid Wine Grape Growers
- Lifestyle Trends & Cultural Issues Favor Wine Market
- Busy Lifestyles
- Disposable Incomes
- Urban Population
- Wine-Drinking Occasions
- Dining Out
- Desire for Trendy Drinks
- Demand for Drinks Considered as Healthy
- Religion
- Tourism
FOCUS ON SELECT PLAYERS(Total 398 Featured)
- Accolade Wines Australia Limited (Australia)
- Bacardi Limited (Bermuda)
- Brown-Forman Corporation (USA)
- Cantine Riunite & CIV S.C.Agr. (Italy)
- Castel Group (France)
- Caviro s.c.a (Italy)
- Codorniu, S.A. (Spain)
- Constellation Brands, Inc. (USA)
- E. & J. Gallo Winery (USA)
- Freixenet S.A. (Spain)
- Grupo Penaflor S.A. (Argentina)
- Gruppo Italiano Vini S.P.A. (Italy)
- Henkell & Co. Sektkellerei KG (Germany)
- J. Garcia Carrion S.A (Spain)
- Kendall-Jackson Wine Estates, Ltd. (USA)
- LANSON-BCC (France)
- LVMH Moet Hennessy Louis Vuitton S.E. (France)
- Miguel Torres S. A (Spain)
- Pernod Ricard Groupe (France)
- Remy Cointreau Group (France)
- The Schenk Group (Switzerland)
- Treasury Wine Estates Limited (Australia)
- Vina Concha y Toro S.A. (Chile)
- The Wine Group LLC (USA)
For more information about this report visit https://www.researchandmarkets.com/r/8q54e0
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