Wine Market Poised for 4.10% CAGR Growth, Projected to Reach US$ 416.08 Bn by 2031 | E. & J. Gallo Winery, Concha y Toro

Market Overview:

Global wine market is expected to reach US$ 416.08 Bn by 2031, from US$ 314.07 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.10% during the forecast period (2024-2031).

Market Dynamics:

The global wine market is expected to witness significant growth over the forecast period, owing to rising health consciousness among consumers and perception of wine as a healthy beverage. Studies show moderate consumption of wine can provide various health benefits such as reducing risks of heart disease and diabetes. Additionally, changing lifestyle and rising disposable income have encouraged social drinking and outdoor consumption of wine. Moreover, the thriving food service industry and growing number of wine cafes and bars have boosted on-premise consumption of wine worldwide. However, high production costs and taxes remain a hindrance to the growth of the market. Innovation in packaging and introduction of premiumization by key players are expected to offer lucrative opportunities in the coming years.

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Wine Market Drivers

Increasing Health Benefits Awareness

The awareness about the health benefits of moderate wine consumption is increasing among consumers which is driving the growth of the wine market. Drinking wine in moderation is found to have cardiovascular benefits and reduce the risk of diseases. Studies have linked moderate wine drinking especially red wine with lowering bad cholesterol and reducing the risks of heart disease. The presence of antioxidants in wine is also found to protect against certain types of cancers. As people are becoming more health conscious, they are incorporating wine in their diet for perceived health benefits which is positively impacting the wine market.

Wine Market Opportunity

Emerging Markets Export Potential

Emerging economies in Asia, Africa and Latin America present a huge untapped export opportunity for the wine industry to boost the global wine market. Countries like China, India, Brazil are experiencing growing wine consumption but depend majorly on imports due to limited local production. These emerging markets offer a profitable avenue for overseas wine producers and traders to expand exports. The large and youthful population in developing nations combined with rising disposable incomes is encouraging the experimentation with imported wines. If leveraged strategically, emerging markets present lucrative long-term growth prospects for the overall wine market.

Wine Market Trends

Experiential Consumption Trend

The experiential consumption trend where people seek memorable experiences over material possessions is driving new opportunities for growth in the wine market. Experiences around wine tasting, blending, food pairings, winery tours and wine trails are gaining immense popularity among millennial and generation Z consumers. As part of the experience economy, wineries are offering innovative activities and hosting interactive events to attract these consumer segments. This growing interest in wine experiences is translating into increased consumption occasion for wine. The trend towards finding new ways to engage consumers through memorable experiences will positively influence the future prospects of the wine industry.

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Top Companies Included in This Report:

• E. & J. Gallo Winery
• Concha y Toro
• The Wine Group
• Bacardi Limited
• Constellation Brands
• Pernod Ricard
• Treasury Wine Estates
• Caviro
• Grupo Penaflor.

Market Segmentation:

By Product Type:

• By Product Type: Still Wine, Sparkling Wine, Fortified Wine
• By Color Type: Red Wine, White Wine, Rose Wine

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Wine Market by Players

Chapter 4: Market Size of the Wine Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Wine Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Wine industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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