Authored By: Sarah
11 Jul 2024

 Wine Market to grow by USD 156.8 billion between 2024-2028

According to a research report “ Wine Market” by Distribution Channel (Off-trade, On-trade) Product (Red, Fortified, White, Sparkling) Geography (Europe, APAC, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 156.8 billion at a CAGR of  4.93% during the forecast period. In the dynamic business landscape of the global wine market, the proliferation of online stores and specialty retailers offers an expansive array of choices to consumers. This shift towards e-commerce is driven by the convenience of online shopping and the ability to compare prices. The burgeoning trend of purchasing wine online is projected to fuel market expansion during the forecast period. Key players, such as WineWell and LiquorKart, fortify this growth through robust online distribution channels and platforms. This transition to digital sales channels opens up new avenues for vendors to reach customers beyond geographical constraints, enhance operational efficiencies, and cater to customized consumer demands..

Browse market data tables, figures, and in-depth TOC on “Wine Market” by Distribution Channel (Off-trade, On-trade) Product (Red, Fortified, White, Sparkling) Geography (Europe, APAC, North America, South America, Middle East and Africa) Global Forecast to 2028.

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By Distribution Channel, the Off-trade segment is projected to dominate the market size in 2024.

In the dynamic wine market, we strategically position our brand to capture a significant market share. By leveraging consumer insights and market trends, we offer a diverse range of high-quality wines to cater to various palates and preferences. Our robust distribution network ensures timely delivery to meet customer demands, while our competitive pricing and promotional strategies boost sales growth.

By Product, Red  segment is expected to hold the largest market size for the year 2024.

In the dynamic wine market, we strategically position our brand to capture a significant market share. By leveraging consumer insights and market trends, we offer a diverse range of high-quality wines to cater to various palates and preferences. Our robust distribution network ensures timely delivery to meet customer demands, while our competitive pricing and promotional strategies boost sales growth.

Europe is forecasted to hold the largest market size by region in 2024.

In the dynamic wine market, we strategically position our brand to capture a significant market share. By leveraging consumer insights and market trends, we offer a diverse range of high-quality wines to cater to various palates and preferences. Our robust distribution network ensures timely delivery to meet customer demands, while our competitive pricing and promotional strategies boost sales growth.

The Wine Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Accolade Wines Australia Ltd.
  • Boisset Family Estates
  • Bronco Wine Co.
  • Casella Wines Pty. Ltd.
  • Castel Freres
  • Charlie and Echo
  • Concha y Toro
  • Delicato Family Wines
  • Deutsch Family Wine and Spirits
  • E. and J. Gallo Winery
  • Emiliana Organic Vineyards
  • Harris Organic Wines
  • Inglenook
  • Jackson Family Wines Inc.
  • King Estate Winery
  • Les Domaines Barons de Rothschild Lafite
  • Pernod Ricard SA
  • The Wine Group LLC
  • Treasury Wine Estates Ltd.
.

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Research Analysis Overview

In the dynamic and expansive wine market, fortified wines hold a significant position due to their unique characteristics. The aroma and flavor profiles of fortified wines, derived from grapes, make them an essential ingredient in various cooking applications. Fortified wines, as an alcoholic beverage, contain high levels of antioxidants like resveratrol, which have been linked to cell damage prevention and potential cancer risk reduction. Additionally, they have been known to help manage blood sugar levels and reduce bad cholesterol. Fortified wines undergo specific production processes, including the addition of potassium metabisulfite and potassium sorbate for preservation. Wineries employ both organic methods and sustainability practices in wine production to cater to diverse consumer preferences. The wine industry, driven by e-commerce, has seen a surge in demand for fortified wines due to their versatility and health benefits. Enzymatic browning and acids in fortified wines contribute to their complex taste profiles, making them a popular choice among consumers.

Market Research Overview

The wine market encompasses a wide range of e-commerce platforms, selling various lifestyle products, including high-quality flavored fortified wines. Premiumization is a key trend in this industry, with consumers seeking out wines made from organic methods and grown using sustainable practices. Health consciousness is also a driving factor, as many wines offer health benefits, such as those rich in antioxidants like resveratrol. For individuals with celiac disease or other dietary restrictions, organic wines are a popular choice. Wine's carbon footprint is also a consideration, with consumers looking for wines produced using minimal chemicals and with a focus on liver and heart health. Wine's aroma and flavor, as well as its cooking applications, make it a staple in bars, restaurants, and socializing settings. Young consumers are particularly drawn to the delicate flavors and richness of products like vermouth, sparkling wine, and fortified wine. The luxury wine market, including red wine varieties like Chianti and Champagne, continues to see strong retail sales through various channels. Western cuisines and wine tourism further contribute to the market's positive outlook. Despite the potential health benefits, it's important to note that moderate consumption is key, as excessive alcohol intake can lead to heart diseases, circulatory diseases, stroke, heart failure, heart attack, and coronary heart disease. Wine production also involves the use of potassium metabisulfite, potassium sorbate, and other additives, as well as enzymatic browning and sugar content, which can impact taste and shelf life.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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