Wine Market

Wine market was valued at USD 418 Billion in 2020 and projected to grow at 6.1% CAGR during the forecast period.

Wine Market Overview

Wine is an alcoholic drink made from fragmented grapes. Technically, any fruit can be used for wine (i.e., apples, cranberries, plums, among others). It is a mixture of yeast and grapes where yeast consumes the sugar and converts the mixture into alcohols and carbon dioxide, with a range of techniques to accompany the different types of grapes. The most natural process is to add some yeast and let it ferment over time. For red wines, carbon dioxide is released and usually fermented at warmer temperatures compared to white wines.

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Major Wine Market Drivers

The increasing consumption of wine owing to the growing awareness about the health benefits such as prevents cell damage, reduces the chances of cancer, and lower bad cholesterol will augment the wine market growth over the forecast period. According to a study by the European Association of Wine Economists and the Chaire Vins et Spiritueux de INSEEC U., in 2020, the consumption of wine increased significantly owing to the outburst of coronavirus in Spain and the rest of Europe. Changing tastes preferences of consumers and growing demand for new and exotic flavors, are expected to fuel the growth of the wine market. Other factors, which include increasing per capita consumption of wine consumption, the growing trend of socializing at restaurants and bars especially among millennials, and the aggressive marketing strategies by leading wine brands to reach the masses will pave the way for market. The growing emphasis of leading market players to develop new flavored wines to cater to the changing consumer preferences is forecast to strengthen the market growth. Moreover, the growing adoption of western culture and the launch of still and sparkling wines due to their huge demand, are contributing to the wine market size.

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Type – Segment Analysis

Based on the type, red wine is expected to grow at a higher CAGR in the global wine market over the forecast period. The consumption of red wine has been part of social, religious, and cultural events for over a century. The health benefits associated with red wine is expected to drive growth in this market. Red wines are made from crushed dark grapes, which are a reasonably rich source of resveratrol. Resveratrol is a natural antioxidant in the skin of grapes that might help in preventing damage to blood vessels, reduce LDL cholesterol and prevent blood clots.

Distribution Channel – Segment Analysis

Based on the distribution channel, off-trade is anticipated to grow at a higher CAGR over the forecast period. Off-trade consists of retail outlets, supermarkets, and hypermarkets. The ongoing pandemic has propelled the demand for alcoholic beverages. According to Silicon Valley Bank, in March 2020, off-trade sales spiked by 60% in sales. According to the Ministry of Foreign Affairs, Poland, most wine sales in Poland are through off-trade, accounting for an estimated 96% of wine sold in the country.

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Regional – Segment Analysis:

Based on the region, Europe is expected to grow at a high CAGR over the forecast period. Europe is the largest producer of wine with countries such as Italy, Germany, Spain having the highest per capita wine consumption annually. According to WHO, on average, adults in European Union drink three bottles of wine a week. Countries such as France and Germany are the leading markets in Europe due to their large drinking population.

Top Market Players

Various notable players operating in the market, include, Constellation Brands, Inc., E. & J. Gallo Winery., The Wine Group, Pernod Ricard, Brown‑Forman, Treasury Wine Estates, Concha y Toro, Castel Group, Bacardi Limited, Castello di Amorosa, among others. 

Key Developments:

• • In 2021, E. & J. Gallo Winery (Gallo) acquired more than 30 wine brands from Constellation Brands Inc. The Federal Trade Commission decided to close the agreement between Gallo and Constellation on December 23, 2020.
  • In 2021, E. & J. Gallo Winery’s Luxury Wine Group, collaborated with legendary winemaker and visionary Randall Grahm, released a collection of wines called The Language of Yes.
  • In 2021, The Wine Group and Anheuser-Busch introduced new wine named 101 North Wine Collection.
  • In 2021, Pernod Richard acquired The Whiskey Exchange, leading online spirits, and physical retailer. This acquisition will help Pernod Richard meet consumer needs and expectations in the context of solid e-commerce growth and strong demand for premiumization.
  • In 2021, Treasury Wine Estates entered a long-term partnership with Republic National Distributing Company. The partnership will cover multiple markets such as Texas, Mississippi, Utah, Louisiana, among others.

Segments covered in the Report:

The global Wine market has been segmented on the basis of type, and distribution channel. Based on type, the market is segmented into white wines, red wine, rose wine, dessert wine, and sparkling wine. Based on distribution channel, the market is segmented into on-trade, and off-trade. 

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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

• • North America Wine Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up

  • Europe Wine Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Wine Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Wine Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Wine (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Constellation Brands, Inc.
  • & J. Gallo Winery.
  • The Wine Group
  • Pernod Ricard
  • Brown‑Forman
  • Treasury Wine Estates
  • Concha y Toro
  • Castel Group
  • Bacardi Limited
  • Castello di Amorosa