Europe Wine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Wine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe wine market is anticipated to witness a CAGR of 0.89% during the forecast period (2020 - 2025).

Key Highlights

• The European wine market is mature as wine has been a part of the vivid European culture, and is still a part of the lifestyles of the regional people.
• The wine market in the region is driven by increasing demand for wine due to its health benefits. Conversely, the premiumization of wine products coupled with innovation in flavor has further regulated the wine market in the region.
• However, as the consumers of the European region are swaying towards nutrition-packed beverages, the regional wine market is likely to progress slowly in the near future.

Key Market TrendsLarge Vineyard Area is Likely to Drive the Market in the Region

The European countries have been extensively manufacturing wines from ages as the drinks have been a regular part of the traditional meals across the regional countries. Moreover, innovation in terms of flavor, color, and packaging customizations have led to increased sales of wines. Therefore, owing to the high demand, a considerable land area was converted into vineyards, especially in the countries of Spain, Italy, France, and Turkey as their local wines gained popularity across the globe. The manufacturers, thus, procure grapes in bulks from these vineyards to produce wines at lower prices.

Italy is the Largest Wine Market in the Region

Italy has been a major producer of wines for over centuries due to the abundant availability of grapes for wine production, backed up by the number of consumers and the frequency of wine consumption among the natives. The manufacturers in the region have been developing unique wine flavors to recapture the strong market which is slowly declining due to the invasion of soft drinks and health drinks, which is a big threat to the wine industry. Italian wines have been popular across the globe due to their fine quality and the local products are likely to witness progressive growth in the overseas market in the near future as well. This can be identified from the fact that the number of main vineyards in Italy has increased from 690 in 2014 to 705 in 2018, as per the 2019 statistical report of OIV.

Competitive Landscape

The Europe wine market is fragmented with the presence of several global as well as domestic players. The major opportunity for the players to grab the market is by launching innovative solutions to cater to the market, amidst the stagnant market situation. The taste, type, and cost also play a major role in laying a heavy brand foundation. The global players have a strong hand due to their brand image and are, therefore, they are indulging in geographical expansions, while others are considering mergers, acquisitions, and partnerships to capture the regional market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Bacardi Limited
Castel Freres
Treasury Wine Estate
Pernod Ricard
Artemis Domaines
Boisset
Borie
Manoux
Campari Group

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