The ‘global wine market size, share, analysis, value, report and forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the global wine market, assessing the market on the basis of its segments like colours, product types, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Wine Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
- Historical Market Size (2023): Over USD 380.34 Billion
- Forecast CAGR (2024-2032): 6.20%
Alcohol intake has been perceived to increase social bonding, which has fuelled the wine market growth. Besides, wine is considered one of the most sophisticated alcoholic drinks, due to which its popularity among both the young and old populations is rising.
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In recent years, e-commerce has become an increasingly popular option for purchasing alcohol. During the projected period, this trend is anticipated to grow owing to various advantages offered by online shopping platforms, such as a convenient shopping experience, prompt home delivery, and a variety of offers, among others.
Product premiumisation is one of the main factors anticipated to fuel the wine market expansion in upcoming years. Key players are concentrating to develop innovative flavoured and fortified wines to fulfil evolving consumer expectations. Moreover, the growing popularity of innovative wines like marijuana-infused wines in nations like the United States is likely to bolster the market in upcoming years.
Wine Industry Definition and Major Segments
Wine is an alcoholic drink that is made from fermented grapes. During the production process, the grapes are crushed to initiate the release of their sweet liquid, which is then transformed into alcohol by alcoholic fermentation.
Wines are usually made from grapes but they can also be made from other fruits such as apples, cranberries, and plums, among others.
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The market, based on colour is divided into:
- Red Wine
- White Wine
By product type, the market is segmented into:
- Still Wine
- Sparkling Wine
- Fortified Wine and Vermouth
On the basis of distribution channel, the market is classified into:
The major regional market of wine include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Wine Market Trends
Wine subscription boxes are extremely popular because they provide clients with brand-new and rare wines that they may not have selected themselves. Customers who are interested in exploring but are unfamiliar with the beverage are also preferring wine subscription boxes.
Europe is anticipated to hold a significant market share since wine has been considered one of the most appealing products in the region. Wine also holds cultural significance in various countries in the region. Moreover, key players are expanding their distribution channels to enhance the accessibility to wine, which is driving the overall wine market development.
Key Market Players
The major players in the global wine market report include E. & J. Gallo Winery, The Wine Group LLC, Madeira Wine Company, SA, Bronco Wine Company, and Constellation Brands Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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