Wine Market by Product Type, Distribution Channel, End User 2023-2028

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Global Wine Market Research Report:

The latest report by IMARC, titled “ Wine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”

the global wine market reached a value of US$ 458.5 Billion in 2022.

Wine is a brewed alcoholic beverage prepared by harvesting, crushing, pressing, distilling, and fermenting the juice extracted from grapes. During its aging process, various additional condiments, including aromatics, water, calcium carbonate, sulfur dioxide, potassium sorbate, and metabisulfite, are also incorporated into the product to inhibit enzymatic browning.

At present, wine is broadly categorized into rose, still, dessert, sparkling and fortified product types. Wine is rich in antioxidants that assist in preventing cardiovascular diseases (CVDs), lowering bad cholesterol, regulating blood sugar levels, and reducing depression and anxiety. As a result, it is frequently consumed directly or used as a key ingredient to intensify the flavor and aroma of various dishes.

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Global Wine Market Trends:

The global wine market is primarily driven by the increasing consumption of various alcoholic beverages due to the emerging trend of socializing in socio-cultural environments, including clubs and bars. This is further influenced by rapid urbanization, inflating income levels, and the rising premiumization of the drink for catering to the evolving consumer preferences. In line with this, the extensive incorporation of distinct biotechnological approaches, including a two-step process to brew wine twice by adding yeast and sugar to enhance product quality, is acting as another growth-inducing factor. Additionally, the advent of low-calorie, marijuana-infused wines with diverse flavor profiles to provide a better drinking experience to consumers is contributing to the market growth. Moreover, the widespread adoption of various online distribution channels and e-commerce platforms to sell and purchase wine, especially during the COVID-19 pandemic, is impelling the market growth.

Furthermore, the growing western-cultural influences on emerging economies, supported by the launch of sparkling and still wines due to their rising demand, is positively stimulating the market growth. Other factors, such as ongoing celebrity endorsements, fueling establishment of wineries, escalating awareness amongst consumers regarding the health benefits of wine, and strategic collaborations amongst key players to engineer novel product variants with enhanced taste in innovative packaging solutions, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 635.8 Billion by 2028, growing at a CAGR of 5.5% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

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Market Summary:

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

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Breakup by Region:

• North America

• United States

• Canada

• Asia-Pacific

• China

• Japan

• India

• South Korea

• Australia

• Indonesia

• Others

• Europe

• Germany

• France

• United Kingdom

• Italy

• Spain

• Russia

• Others

• Latin America

• Brazil

• Mexico

• Others

• Middle East and Africa

Competitive Landscape with Key Players:

• Accolade Wines

• Asahi Group Holdings Ltd.

• Bacardi Limited

• 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. View Full Report with TOC & List of Figure: https://www.imarcgroup.com/wine-market

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