Market Size of United States Wine Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 1.47 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Wine Market Analysis
The US wine market is anticipated to witness a CAGR of 1.47% over the forecast period. The US wine market is the largest of its kind in the world due to its high population, backed up by high disposable incomes. Moreover, wines have been popular in the country for centuries, and the local market has been growing with the migration of people from vivid cultural backgrounds who are introducing new flavors to the market.
- According to the United States Department of Commerce, wine sales in the United States increased in 2021 as compared to the previous. The wine sales were 435.1 million 9-liter cases in 2020, whereas the sales amounted to approximately 450.6 million 9-liter cases in 2021. Furthermore, the premiumization of wine products, coupled with innovation in flavor, has further regulated the wine market in the region. The increase in the demand for wine in the US market has been creating lucrative opportunities for various players in the market.
- Another emerging trend in the market segment includes the demand for organic wine, which currently represents a small portion of the overall wine market; its production and consumption have grown recently as a result of growing consumer interest in health and wellness. Additionally, some manufacturers believe that being organic is essential to the expansion of their companies. Owing to the above factors, the players have been expanding their reach across the region and using various strategies to penetrate the market further.
- For instance, in September 2022, Invivo X, Sarah Jessica Parker's wine brand SJP expanded in the United States Market, and the Sauvignon Blanc was claimed to be offered at 1,173 Kroger stores across the region. Through its physical shops and website, Kroger claims to be serving more than 11 million people every day. However, as United States consumers are readily opting for nutrition-packed beverages, the wine market in the country is likely to show a sluggish growth rate as the market has already reached its saturation.
