Wine Market 2019-2028
New Market Study, Report “Wine Market 2019 Global Market Demand, Opportunities, Growth Drivers, Challenges, Strategies and Forecasts 2028” Has been Added on WiseGuyReports.com.
This report provides in depth study of “Wine Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Wine Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Wine is a popular alcoholic beverage that is produced by the process of fermentation, just like other alcohols. The substrate used in the manufacturing process are grapes, and the fermentation is carried out by the bacteria present on the skin of grapes. A specific type of yeast is also added to obtain certain varieties of wines. The process of manufacturing involves six stages, and the quality of the product improves as it ages.
Wine was largely consumed in the European continent, with France being the largest producer and consumer. However, with the other regions of the world adopting the wine culture, there has been a sudden impetus to the growth in the market for this beverage. Another important factor that is said to drive growth in the market is the increasing preference of alcoholic beverages like beer and wine among millennials today.
Important Key Players Analysis: E&J Gallo, The Wine Group, Constellation Brands, Castel, Accolade Wines, Cantine Riunite & CIV, Concha y Toro, Treasury Wine Estates, Grupo Penaflor, Pernod-Ricard, Bronco Wine, Caviro, Trinchero Family Estates, Antinori, Changyu, Casella Family Brands, Diageo, China Great Wall Wine, Jacob‘s Creek, Kendall-Jackson Vineyard Estates and more.
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The global wine market can be broadly segmented on product type, colour and distribution channel.
Based on the product type, the market can be segmented into:
Among these segments, the still variant is expected to continue dominating the market for the next few years.
Based on the colour of the wines, the market can be segmented into:
Among these segments, the red wine segment is said to dominate the market in the forecasted period, primarily due to the health benefits it provides.
Another way of segmenting the market is by distribution channel:
- Speciality Stores
- Online Channels
- Other Modes of Distribution
Currently, the market is dominated by North America, followed by Europe. However, among the various regions, the demand for wine is increasing in the Asia Pacific region, with China dominating the market within the region, followed by Australia and Japan. India, however, is currently the fastest-growing country in terms of wine consumption. The red variant is considered lucky in China, and this has been driving growth in the country until now and will continue to do so in the future. Two other countries that are future growth prospects for the wine market are Brazil and Argentina. This is because of the expanding middle class and campaigns run by major importers who are aiming to promote the wine culture in these two countries.
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Though alcoholic in nature, people choose wine due to its many health benefits. With increasing demand in the sector and people opting for organic foods, wine manufacturers are now making organic wines. The growth and popularity of veganism is expected to drive the market towards vegan wines in the near future. Another trend that is anticipated is the production of low alcohol content variants based on consumer’s preferences.
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