|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The wine market is projected to register a CAGR of 4.28% during the forecast period, 2021- 2026.
As per Mordor Intelligence’s analysis, COVID-19 made 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, India, and others to control the impact of the pandemic. However, the current environment may provide an opportunity for the wine industry to recapture lost consumer attention. As per the analysis, the total wine volumes are up year-over-year 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.
Moving forward, the wine market is likely to be driven by the increasing demand for wine 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. Based on product type, the market is segmented into still wine, sparkling wine, and fortified wine and vermouth. On the basis of color, the market has been segmented into red wine, rose wine, and white wine. On the basis of distribution channel, the market is divided into on-trade and off-trade. Off-trade is further sub-segmented into supermarkets/hypermarkets, specialty stores, online channels, and other distribution channels. On the basis of geography, the market covers topline numbers for the values of major countries of the regions, North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|By Product Type|
|Fortified Wine and Vermouth|
|By Distribution Channel|
Key Market Trends
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 global market for fortified wine in the upcoming years. Leading market players are concentrating on the development of new flavored fortified wines to cater continuously 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 across the world witnessed consumers trading up to higher-value products, primarily across a wide range of categories. This trend is prominent in the developed markets, like the United States. Consumers are keen to explore unique and interesting alcoholic beverages.
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Surge in Wine Consumption in Asia-Pacific and South American Regions
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 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.
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The wine market is a highly competitive market due to a large number of 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, owing to their wide range of prices for wines. As every region has a number of domestic players with robust distribution channels, global players seeking a higher market share prefer acquiring them rather than starting fresh in the country. New product development is another strategy followed by companies, as product differentiation helps in increasing the consumer base.
In August 2020, Californian winery Limerick Lane Cellars launched a new wine brand in the United States, packaged in aluminum bottles.
In February 2020, India got its first canned wine in the brand name of Dia Sparkler. The new canned wine was launched by Sula Vineyards, which is one of India’s most popular wine brands, in leading stores across India.
In December 2019, E. & J. Gallo Winery announced its plan to modify its agreement with Constellation Brands Inc. announced in early 2019, for the purchase of a portfolio of wine brands, along with six winemaking facilities located in California, Washington, and New York.
Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Still Wine
5.1.2 Sparkling Wine
5.1.3 Fortified Wine and Vermouth
5.2 By Color
5.2.1 Red Wine
5.2.2 Rose Wine
5.2.3 White Wine
5.3 By Distribution Channel
18.104.22.168 Specialty Stores
22.214.171.124 Online Retailers
126.96.36.199 Other Distribution Channels
5.4.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.4.4 South America
126.96.36.199 Rest of South America
5.4.5 Middle-East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 E. & J. Gallo Winery
6.4.2 Constellation Brands Inc.
6.4.3 The Wine Group LLC
6.4.4 Pernod Ricard
6.4.5 Lagfin S.C.A.
6.4.6 Treasury Wine Estates Limited
6.4.7 Bronco Wine Company
6.4.8 Foley Family Wines
6.4.9 Bacardi Limited
6.4.10 Symington Family Estates
6.4.11 Madeira Wine Company SA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Wine Market market is studied from 2016 - 2026.
What is the growth rate of Global Wine Market?
The Global Wine Market is growing at a CAGR of 4.28% over the next 5 years.
Which region has highest growth rate in Global Wine Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Wine Market?
Europe holds highest share in 2020.
Who are the key players in Global Wine Market?
Bacardi Limited, E. & J. Gallo Winery, Constellation Brands Inc., Pernod Ricard, Bronco Wine Company are the major companies operating in Global Wine Market.