Wine Market - Growth, Trends, and Forecast (2020 - 2025)

Sparkling wine, especially Champagne, is considered as a status symbol. Wineries, across the world, are launching varieties of sparkling wines through their brands in a bid to stay ahead of the competition and garner and sustain consumer interest. The sparkling wine segment is fragmented with the presence of several producers, wineries, and distributors. Additionally, new packaging offerings like cans and minis have made sparklers more viable as an every-day drink. Therefore, sparkling wine is becoming food-friendly at restaurants, bars, and households. Champagne brands, such as Veuve Clicquot and Moët & Chandon lead the sparkling wine segment, in terms of the retail value of both domestic and import trade.

Asia-Pacific is leading in the demand for wine, with China dominating the market in the region. Australia is second in the consumption of wine in Asia-Pacific, followed by Japan. India is the fastest growing country in terms of wine consumption and registered a growth rate of 7.3%. 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. China is one of the leading markets for red wine consumption, giving tough competition to France and Italy. Notably, the consumption of red wine is more of a tradition in China, as the color red is considered lucky in the country. Brazil and Argentina are other key countries, reflecting the future growth prospects in the wine market. The two nations are majorly driven by an expanding middle class, coupled with marketing campaigns run by major importers, such as Expand Importadora and Interfood Importação, which are aiming to promote the culture of wine drinking, particularly in the case of Brazil.