Wine Market Size by Global Major Companies Profile, Competitive Landscape and Key Regions 2027
The global wine market size is anticipated to reach USD 444.93 billion by 2027 on account of the increasing adoption of a lavish and wealthy lifestyle. Wine is an alcoholic drink made of fermented grape juice. The yeast helps to consume the sugar present in the grapes and changes it to carbon dioxide, ethanol, and heat. The variety of strains of yeasts and grapes produces different types of wine. Wine has been consumed by people for thousands of years and also has religious importance. Wine also has health benefits when consumed in limits. A recent report by Fortune Business Insights provides an elaborate overview of the market and its prime strategies. As per this report titled, “Wine Market Size, Share and Industry Analysis, By Type (Sparkling Wine, Still Wine, and Others), Flavour (Red Wine, White Wine, and Rose Wine), Distribution Channel (On-trade and Off-trade), and Regional Forecast, 2020 2027,” the market value was USD 364.25 billion in 2019 and is likely to exhibit a CAGR of 6.06% between 2020 and 2027.
The emergence of COVID-19 has brought the world
to a standstill. We understand that this health crisis has brought an
unprecedented impact on businesses across industries. However, this, too, shall
pass. Rising support from governments and several companies can help in the
fight against this highly contagious disease. Some industries are struggling,
and some are thriving. Overall, almost every sector is anticipated to be
impacted by the pandemic.
We are making continuous efforts to help your
business sustain and grow during COVID-19 pandemics. Based on our experience
and expertise, we will offer you an impact analysis of coronavirus outbreak
across industries to help you prepare for the future.
What are the Highlights of
the Report?
The report provides a 360-degree overview of the
market and various factors driving, restraining, challenging, and creating opportunities
for the market. It also discusses the table of segmentation based on factors
such as type, flavor, distribution channel, and geography, and lists the names
of leading factors. Furthermore, the report highlights current trends prevalent
in the market, significant industry developments, and other interesting
insights into the market. To purchase this report, refer to the company
website.
Market Drivers
Rising Adoption of Wine as
a Sign of Social Status will Propel Growth
The rising adoption of alcohol as a social drink
is a major wine market driver. This, coupled with modernization,
westernization, and promotion of alcohol consumption socially will also add
impetus to the market in the coming years. Wine and alcohol consumption has now
become a social status and this supports the growth of alcoholic beverages
worldwide. Wine has refreshing appeals and has health benefits such as blood
pressure control, type 2 diabetes, vision loss, gut health, dementia, and also
helps to cleanse and provide glow to the skin when consumed in a limit. These
advantages also help to augment the growth of the market in the coming years.
However, the gradual shift of non-alcoholic
beverages and other alcoholic drinks may hamper the market for wine in the
coming years. Nevertheless, the emergence of e-commerce platforms is likely to
create lucrative growth opportunities for the market in the forthcoming years.
Regional Segmentation
Market in Asia Pacific to
Register Considerable CAGR Owing to Increasing Adoption of Westernized Trend
Geographically, North America earned the largest
wine market share owing to the presence of lead importing companies in the
region. Together with Europe, This region imports an average of 5 million
liters annually to maintain the supply and demand chain in the respective
regions. Europe also holds a significant share in the beer market as well,
owing to the customs and cultural occasions that include the consumption of
wine as a celebrating drink. In addition to this, France remains a major
contributor of wine to the world but has witnessed a decline in the past few
years due to emerging competitors worldwide. Moreover, the increasing number of
young working-class population is also expected to help this region attract
high revenue in the coming years.
On the other side, Asia Pacific market will rise
at a robust pace during the forecast period on account of the increasing
adoption of westernized trends and the adoption of international cuisines among
consumers. Besides this, the HoReCa Sector (Hotel/Restaurant/Catering) Sector
also included wine serving as a new trend and this is further anticipated to
aid in the expansion of the market in the region. On the other side, the Middle
East and Africa and South America markets may witness stable growth owing to
the lack of awareness and the penetration of sub-optimal products.
Competitive Landscape
Players to Focus on the
Launch of Innovative Wine
The nature of the wine market is moderately
organized owing to the presence of major manufacturers. Players are engaged in
the manufacturing of various and flavored ABV wine to stay put in the
competition. They are launching different flavors in their wine to gain
momentum in the market. Some of the major players of this market include
Halewood Wines, Distell Group, International Beverage Holdings, John
Distilleries, and The Wine Group. The rise in efforts and capitalization by
players to launch innovative products is likely to help attract high revenue to
the market in the coming years.
Major Industry Developments
of the Market include:
July 2019The
launch of the first 187 ml slimline wine cans was announced by Ardagh Group
S.A. in Europe. This creative slimline packaging is expected to suffice to the
increasing demand for on-the-go drinks among customers all over Europe.
February 2020A new
range of wine cans called Dia Sparkler cans was launched by Sula Vineyards Pvt.
Ltd in India. This new product range is expected to cater to the rising demand
for sparkling wine in the country.
Browse Summary of This
Research:
https://www.fortunebusinessinsights.com/wine-market-102836
Comments
Post a Comment