IMARC Group, a leading market research company, has recently releases report titled “Wine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″ The global wine market size reached US$ 458.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 635.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Wine represents an alcoholic beverage prepared from fermented grapes. It comprises water, aromatics, tannins, acids, alcohol, sugar, calcium carbonate, sulfur dioxide, potassium sorbate, and potassium metabisulfite for inhibiting the growth of microorganisms and enzymatic browning. The consumption of wine is extensive, either through direct consumption or its utilization in cooking to enhance the flavor and aroma of prepared meals. It is a rich source of antioxidants that aid in lowering bad cholesterol, protecting from cell damage, and reducing the risk of cancer. Currently, this alcoholic beverage is commercially available in varying types, including still, sparkling, fortified, and vermouth variants.
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What are the growth prospects and trends in Wine Industry:
The increasing product premiumization in the food and beverage (F&B) industry and the escalating demand for new exotic flavors are among the key factors driving the wine market. Moreover, ongoing strategic collaborations amongst the key players and manufacturers to cater to the constantly evolving consumer preferences are also stimulating the market growth. Besides this, the introduction of marijuana-infused wines, beers, liqueurs, and spirits is acting as another significant growth-inducing factor. Furthermore, the widespread adoption of Western culture and cross-culture trends and the launch of gluten-free alcoholic beverages, on account of the rising health awareness among the masses, are further propelling the global market. Apart from this, the growing popularity of the product on online and e-commerce retailing distribution channels, owing to the sudden outbreak of the COVID-19 pandemic and the implementation of lockdowns, is positively influencing the market growth. Additionally, the emerging trend of socializing at restaurants and bars and the increasing expenditure capacities of individuals are anticipated to fuel the wine market over the forecasted period.
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Who are the key players operating in the industry?
Accolade Wines
Asahi Group Holdings Ltd.
Bronco Wine Company
Castel Frères
Chapel Down Group PLC
Constellation Brands Inc.
E. & J. Gallo Winery
Foley Family Wines
Pernod Ricard
The Wine Group
Treasury Wine Estates Limited.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
Still Wine
Sparkling Wine
Fortified Wine and Vermouth
Breakup by Color:
Red Wine
Rose Wine
White Wine
Breakup by Distribution Channel:
Off-Trade
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
On-Trade
Breakup by Region:
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North America: (United States, Canada)
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Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
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Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
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Latin America: (Brazil, Mexico, Others)
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Middle East and Africa
Key highlights of the report:
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Market Performance
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Market Outlook
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Porter’s Five Forces Analysis
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Market Drivers and Success Factors
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SWOT Analysis
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Value Chain
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Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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