The latest research study “Wine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global wine market reached a value of US$ 430.54 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 605.22 Billion by 2027, exhibiting a CAGR of 5.70% during 2022-2027.
Wine is a brewed alcoholic beverage produced by harvesting, pressing, crushing, fermenting, and distilling grape juice. During its aging process, numerous additional condiments, including water, sulfur dioxide, potassium sorbate, calcium carbonate, aromatics, and metabisulfite, are added to the product to inhibit enzymatic browning and microbial growth. It is broadly classified into the still, dessert, rose, sparkling, and fortified product types. It is rich in antioxidants that help regulate blood sugar levels, lower bad cholesterol, prevent cardiovascular diseases (CVDs), and reduce depression and anxiety. As a result, wine finds extensive applications for direct consumption and as a key ingredient to intensify the flavor and aroma of various dishes across the globe.
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Covid-19 Impact: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
Market Trends and Drivers:
The global wine market is primarily driven by the increasing consumption of various alcoholic beverages due to the emerging trend of socializing in socio-cultural environments. Moreover, the introduction of marijuana-infused, low-calorie wines in innovative flavors to provide a better drinking experience to consumers is positively influencing the market growth. Additionally, there has been an increase in the premiumization of the drink to cater to the shifting consumer preferences due to rapid urbanization and inflating income levels.
In line with this, the growing use of various biotechnological techniques, such as double-brewing wine using yeast and sugar in a two-step process to improve product quality, has augmented the product demand. Besides this, the easy availability of wine through online distribution channels and e-commerce platforms is contributing to market growth. Other factors, including ongoing celebrity endorsements, the rising establishment of wineries, escalating awareness amongst consumers regarding the health benefits of wine, and product innovations, are also anticipated to drive the market further.
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Wine Market Report Scope
Market size value in 2021
US$ 430.54 Billion
Market forecast in 2027
US$ 605.22 Billion
CAGR of 5.70% from 2022 to 2027
Base year for estimation
The report has segmented the market on the basis of region, product type, color and distribution channel.
Breakup by Product Type:
- Still Wine
- Sparkling Wine
- Fortified Wine and Vermouth
Breakup by Color:
- Red Wine
- Rose Wine
- White Wine
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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List of Major Key Players:
The major players in the market are Accolade Wines, Asahi Group Holdings Ltd., Bacardi Limited, Bronco Wine Company, Castel Frères, Chapel Down Group PLC, Constellation Brands Inc., E. & J. Gallo Winery, Foley Family Wines, Pernod Ricard, The Wine Group and Treasury Wine Estates Limited.
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