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

The Wine Market is Segmented by Product Type (Still Wine, Sparkling Wine, and Fortified Wine and Vermouth), Color (Red Wine, Rose Wine, and White Wine), Distribution Channel (On-trade and Off-trade), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market sizes and forecast (in USD million) for the above segments.

Market Snapshot

Wine Market Share
Study Period: 2016 -2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 4.28 %
Wine Market Top Players

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Market Overview

The wine market is projected to register a CAGR of 4.28% during the forecast period (2022- 2027).

COVID-19 had a major impact on the wine industry due to the forced closure of on-trade wineries in various countries, such as the United States, the United Kingdom, and India, to control the spread of the virus.

On the other hand, the current environment may allow the wine industry to recapture lost consumer attention. As per the analysis, the total wine volumes are up by Y-o-Y as more people purchase wine to enjoy with meals at home, majorly in European and North American countries. On the other hand, there is uncertainty if the current boost in the off-trade will continue after pantry loading depletes, the on-trade slowly reopens, and consumption behavior returns to pre-COVID-19 levels.

The wine market is likely to be driven by the increasing demand due to its health benefits and premiumization of wine products, coupled with innovation in flavor and more advanced distribution networks globally.

Changing tastes and new preferences among consumers and increasing demand for new and exotic flavors, such as Riesling wine and other tropical fruit wines, are expected to fuel the growth of the wine market.

Scope of the Report

Wine is an alcoholic drink typically made from fermented grape juice. The wine market is segmented by product type, color, distribution channel, and geography. For each segment, the market sizing and forecast have been done based on value (in USD million).

By Product Type
Still Wine
Sparkling Wine
Fortified Wine and Vermouth
By Color
Red Wine
Rose Wine
White Wine
By Distribution Channel
On-trade
Off-trade
Supermarkets/Hypermarkets
Specialty Stores
Online Retailers
Other Distribution Channels
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Spain
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
United Arab Emirates
South Africa
Rest of Middle-East and Africa

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Key Market Trends

A surge in Demand for Fortified and Other Premium Ingredients Infused Wine

Product premiumization is one of the prime factors expected to fuel the growth of the fortified wine market in the coming years. Leading market players are concentrating on the development of new flavored fortified wines to cater to the changing consumer preferences. Marijuana-infused wines are gaining high popularity, specifically in markets like the United States. It is possibly the most significant trend influencing the alcoholic drinks market globally. Markets worldwide witnessed consumers trading up to higher-value products, primarily across a wide range of categories. This trend is prominent in developed markets like the United States. Consumers are keen to explore unique and interesting alcoholic beverages.

Wine Market Growth

A Surge in Wine Consumption in Asia-Pacific and South America

Asia-Pacific is leading in the demand for wine, with China dominating the market in the region. Notably, the consumption of red wine is more of a tradition in China, as the color red is considered lucky in the country. Owing to this factor, China is one of the leading markets for red wine consumption, giving tough competition to France and Italy. Australia is second in the consumption of wine in Asia-Pacific, followed by Japan. Also, India is the fastest-growing country in terms of wine consumption and registered a growth rate of approximately 7%. The Philippines, South Korea, and Vietnam are the other potential wine-consuming markets in Asia-Pacific. Hong Kong has no import tax for wine, which is a driving factor for the market.

Brazil and Argentina are other key countries reflecting the future growth prospects in the wine market. The two countries are majorly driven by an expanding middle class and marketing campaigns run by major importers, such as Expand Importadora and Interfood Importação, which aim to promote the culture of wine drinking, particularly in Brazil.

Wine Market Size

Competitive Landscape

The wine market is a highly competitive market due to many global and domestic companies operating in various countries. The prominent companies in the market are E. & J. Gallo Winery, Constellation Brands Inc., and The Wine Group LLC. These companies have a significant share in the market due to their wide range of wine prices. As every region has several domestic players with robust distribution channels, global players seeking a higher market share prefer acquiring them. New product development is another strategy followed by companies, as product differentiation helps increase the consumer base.

Recent Developments

In January 2021, E. & J. Gallo Winery (Gallo) announced the completion of the acquisition of more than 30 wine brands from Constellation Brands Inc. The Federal Trade Commission approved the closing of the agreement between Gallo and Constellation on December 23, 2020.

In July 2021, E. & J. Gallo Winery’s Luxury Wine Group, in collaboration with legendary winemaker and visionary Randall Grahm, announced the release of a collection of wines called The Language of Yes.

In April 2021, Constellation Brands launched a dedicated business unit for fine wine and craft spirits. The new fine wine and craft spirits include High West Whisky, Casa Noble Tequila, Mi Campo, Copper & Kings, Nelson's Green Brier Distillery, and The Real McCoy.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Still Wine

      2. 5.1.2 Sparkling Wine

      3. 5.1.3 Fortified Wine and Vermouth

    2. 5.2 By Color

      1. 5.2.1 Red Wine

      2. 5.2.2 Rose Wine

      3. 5.2.3 White Wine

    3. 5.3 By Distribution Channel

      1. 5.3.1 On-trade

      2. 5.3.2 Off-trade

        1. 5.3.2.1 Supermarkets/Hypermarkets

        2. 5.3.2.2 Specialty Stores

        3. 5.3.2.3 Online Retailers

        4. 5.3.2.4 Other Distribution Channels

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Spain

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 E. & J. Gallo Winery

      2. 6.4.2 Constellation Brands Inc.

      3. 6.4.3 The Wine Group LLC

      4. 6.4.4 Pernod Ricard

      5. 6.4.5 Lagfin SCA

      6. 6.4.6 Treasury Wine Estates Limited

      7. 6.4.7 Bronco Wine Company

      8. 6.4.8 Foley Family Wines

      9. 6.4.9 Bacardi Limited

      10. 6.4.10 Symington Family Estates

      11. 6.4.11 Madeira Wine Company SA

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Wine Market market is studied from 2016 - 2027.

The Wine Market is growing at a CAGR of 4.28% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Bacardi Limited, E. & J. Gallo Winery, Constellation Brands Inc., Pernod Ricard, Bronco Wine Company are the major companies operating in Wine Market.

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