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Wine Market
The Wine market was valued at USD 418 Billion in 2020 and is projected to grow at a robust CAGR of 6.1% over the forecast period (2021-2028).
The factors driving the growth of Wine market includes growing alcohol consumption by the young population around the world, increasing sales of wine through e-commerce platforms, growing application of wine in different food cuisines and availability of duty-free liquor. As per the data available at Statista, the worldwide Alcohol sales through e-commerce platforms has significantly increased by 45% from USD 20 billion in 2019 to reach USD 29 billion in 2020, this on-going trend is expected to boost the Wine Market size in the approaching years. Moreover, the growing acceptance towards low alcoholic beverages, increasing number of dining restaurants and liquor stores, are some of the additional factors supplementing the market growth. According to TFI Post, the Delhi Government launched new excise policy is expected to increase the number of licensed liquor of stores from 250 in 2015 to reach about 1,152, which is expected to boost the wine consumption in the National Capital of India.
The increasing innovation in other alcoholic beverages by the leading manufacturers, is anticipated to restrict the growth of Wine Market.
The major players operating in the market are Treasury Wine Estates, Concha y Toro, The Wine Group, Pernod Ricard, Bacardi Limited, Castello di Amorosa, Brown‑Forman, Constellation Brands, Inc., E. & J. Gallo Winery. And Castel Group among others.
Type – Segment Analysis
Based on type, the red wine segment is anticipated to expand at a significant CAGR during the forecast period. Red wine reduces the risk of heart attack, lowers the bad cholesterol, regulates the blood sugar, helps in treating common cold and minimizes depression, are some of the important features augmenting the segment’s growth.
Distribution Channel – Segment Analysis
Based on distribution channel, the off-trade segment is predicted to capture sizeable market share over the forecast period attributed to increasing the sales of wine products in supermarket and hypermarkets.
Regional – Segment Analysis
Based on region, the European region projected to capture significant CAGR during the forecast period. High alcohol consumption, rising acceptance to light alcoholic beverages, growing use of different varieties of wine the European cuisines and high per capita income, are some of the important factors influencing the market growth in Europe.
Market Segmentation
Global Wine Market by Type
White Wines
Red Wine
Rose Wine
Dessert Wine
Sparkling Wine
Global Wine Market by Distribution Channel
On-trade
Off-trade
Global Wine Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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