Global Wine Market - 2023-2030

Global Wine Market - 2023-2030

The Global Wine Market reached US$ 402.5 billion in 2022 and is expected to reach US$ 603.7 billion by 2030 and grow with a CAGR of 5.2% during the forecast period 2023-2030. The increase in demand for wine production and consumption over many regions of the world is boosting the global wine market growth opportunities.

The increasing demand for wine due to its health benefits and premiumization drives the wine market’s growth and expansion. The new flavor innovation and more global advancement in distribution patterns are fueling the market growth. High-end wines have gained popularity as alternative asset classes, which fuels the expansion of the luxury sector. So many new technologies and trends are emerging in winemaking, including technology usage in the vineyard to influence the future of the global wine market.

There is an increasing health preference among consumers. People want to adopt non-alcoholic wines to feel the same vibe but in a healthy manner. Manufacturers are focussing on these types of non-alcoholic wine productions. For instance, Null Wines Sparkling Verdejo is an alcohol-free white wine by Kolonne Null-Verdejo. It is growing in popularity because of its qualities, such as vegan, low-calorie, and non-alcoholic.

Market Dynamics

Health Advantages Associated with Wine are Driving the Market Growth.

The red wine is good for heart health. Red wine contains a good amount of antioxidants that help to prevent coronary artery disease. Pinot Noir Wine is rated as the healthiest wine. This is because of the high levels of resveratrol. It is made of grape varieties with thin skin, has low sugar, fewer calories, and low alcohol content. Sagrantino, made in Italy, contains the highest concentration of antioxidants and is packed with tannins.

The terroir is given high importance in viticulture. It relates the sensory attributes of wine to the environmental conditions in which the grapes are grown. The conditions of wine production and the yeast content in wine fermentation affect the wine’s nutritional labeling. Wine tasting at the consumer level though generally far less exacting than that performed by wine professionals, has increased with the growing popularity of wine as a beverage and the resulting expansion of wine production worldwide.

The New Product Launches and Acquisition Drive the Global Wine Market Growth.

The key market players are adopting powerful strategies to extend their global coverage. Considering the changing patterns of consumers, they are introducing new variants in the product portfolio to cater to the needs of consumers. So many new technologies and trends are emerging in winemaking to influence the future of the global wine market.

The wine market is likely driven by the increasing demand due to its health benefits and premiumization of wine products, flavor innovation, and more advanced distribution networks globally. Fortified wines, such as port and sherry, contain added brandy.

New acquisitions are increasing the market expansion. For instance, in October 2022, Treasury Wine Estates Ltd, an Australian global winemaking and distribution business, announced the completion of the acquisition of Château Lanessan, one of the oldest estates in Bordeaux, France. This acquisition is the latest step in strengthening Penfold's multi-regional luxury wine portfolio.

Climate Change Problems are Restraining The Market Growth.

There has been an occurrence of climate change for the past several decades because of changing atmospheric concentrations of greenhouse gases and alteration of the earth’s surface through deforestation, desertification, and urbanization. The role of climate change is substantial across All crops that show sustainable responses to climate change. It is particularly noticeable for specialty crops such as wine grapes. Wine tastes better with age. Proper conditions need to be followed in wine aging.

Specific climatic effects have included increased heavy rainfall across many regions globally, more frequent heatwaves, and less frequent extreme cold temperatures and cold waves. Additional impacts have been seen in large fires in the western United States, Australia, and Portugal, which have affected grape growing and wine production in some regions. Some growers lost up to 50% of certain varietals, while others were unscathed in 2022.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global wine market is segmented based on product type, distribution channel, and region.

In the Global Wine Market, the Sparkling Wine Segment Holds the Largest Market Share.

The global wine market has been segmented by product type into sparkling wines, still wine, fortified wine, and dessert wine. The sparkling wine segment held the most significant wine market share of 38.8% in 2022 in the wine market analysis report. The sparkling wine segment is sub-segmented into champagne, prosecco, and others. Sparkling wines are becoming increasingly popular, leading to the segment’s growth.

The sparkling wine provides good health benefits, including its ability to improve cognitive function and gut health. Sparkling wines contain high phenolic acid content. They help to digest fiber, keep the immune system in check, improve mental health, and ward off disease microorganisms. All these health benefits are driving the segment’s popularity.

Geographical Analysis

The Europe Region Held the Largest Share of the Global Wine Market.

The global wine market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The Europe wine market held the largest market share of 38.6% in 2022 in the wine market analysis. There is an existence of wine usage daily for social gatherings from ancient times in Europe.

Wine is essential in European life, culture, and diet. It is often seen as a cultural complement to food and conviviality. According to the International Organisation of Vine and Wine, in 2022, Europe has the most significant consumption of wine, with an estimated 111 MHL, accounting for 48% of the world’s consumption.

Competitive Landscape

The major global players in the market include Castel Freres, Pernod Ricard, Constellation Brands, EJ Gallo, Treasury Wine Estate, Vina Concho Y Toro, Accolade Wines, Grupo Penaflor, Fecovita C0-0p, and The Wine Group.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the beverage industry. Covid-19 has considerably impacted the global beverage supply chain phases involving wine production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the beverage industry as well. The COVID-19 pandemic is upending life, and the beverage sector is seeing an increase in trends like wine. The beverage businesses are launching innovative programs, including fortified wine, which is readily available and straightforward to consume.

Why Purchase the Report?
• To visualize the global wine market segmentation based on product type, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of wine market level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global Wine Market report would provide approximately 53 tables, 47 figures and 158 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies