The wine subscription market revenues were estimated at USD 596.5 million in 2023 and are anticipated to surge at a CAGR of 20.7% from 2023 to 2033, according to a recently published report by Future Market Insights (FMI).
By 2033, the market is expected to reach a USD 3.9 billion valuation. The personalized box subscription type of wine subscription is projected to surge with a projected CAGR of 24.6% from 2023 to 2033.
Wine clubs have been popping up more often in recent years, which is one indication of the expanding wine subscription business. These wine clubs provide a carefully chosen variety of wines that are regularly delivered to members’ doors, typically with extra bonuses like savings on subsequent purchases, tasting notes, and admission to exclusive events.
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Wine club memberships are a convenient way to sample wines from across the world. Customers can choose subscriptions that focus on wines from specific nations or regions, or they can opt for local subscriptions that highlight wines from their own country or state.
Wine subscription services also offer an array of options to suit several tastes. They arrange offerings based on flavor profiles, regions, or specific themes, such as organic or biodynamic wines. Some subscriptions also allow clients to customize their shipments based on personal preferences.
A study of American wine drinkers in 2020 discovered that 36% of participants had bought wine through a wine club in the previous year, up from 30% in 2018.
Wine subscriptions are consistent with the wine industry’s larger trend of direct-to-consumer (DTC) sales. Subscription services can offer unique wines at low prices by avoiding traditional distribution routes, and winemakers can create direct ties with consumers, obtaining valuable feedback and insights.
Increasing interest in premium and luxury wines is indeed a growing trend in the wine subscription market. The growing demand for premium and luxury wine subscriptions is largely influenced by millennials, who are playing a pivotal role in driving the market’s growth.
Millennials are more frequent wine drinkers, with 17% drinking wine daily, while 10% of baby boomers and 5% of Gen Xers consume wine daily.
Key Takeaways from the Report
- With an absolute dollar opportunity of USD 3.3 billion, the market is projected to reach a valuation of USD 3.9 billion by 2033.
- Asia Pacific had a market size of USD 130 million in 2022 and is projected to reach a worth USD 1.5 billion by 2033.
- The market in the United States has grown at a CAGR of 23.8% from 2018 to 2022, and is projected to grow at 23.2% CAGR through 2033.
- The market in the United Kingdom has grown at a CAGR of 20.3% from 2018 to 2022, and is projected to grow at 8.9% CAGR through 2033.
- The market in France has grown at a CAGR of 22.4% from 2018 to 2022, and is projected to grow at 5.8% CAGR through 2033.
Competitive Landscape
Key players in the market are Naked Wine, Blue Apron, Laithwaites, WSJwine, Flaneur Wine, BOXT, Firstleaf, Cooper’s Hawk, Messina Hof, Splash Wines, Iron Horse Vineyards, and SokolBlosser.
The leading players are directed towards partnership, product launch, and development, acquisitions, and mergers to gain revenue in the market.
Some of the recent developments in the market are:
- In March 2022, Sokolblosser declared their partnership with Republic National Distributing Company (RNDC) in 18 other United States. RNDC highlighted Sokolblosser’s organically farmed vineyard for more than 30 years and this led to the expansion idea.
- In February 2021, Iron Horse, a sparkling wine producer declared a national partnership with VINTUS. The strategy behind this partnership was to expand the business across the United States at a rapid pace as VINTUS is a prominent importer of wine and spirits.
- In February 2021, Black-owned wine company MC Bride Sisters Collection, Inc. and Simon & Schuster, Inc., launched Book Club and Black Girl Magic Wine Club. This launch of a new club offered an opportunity to elevate the wine experience of consumers and to help black-owned businesses.
- In September 2020, Firstleaf recorded that their wine subscribers increased by 478%. This dramatic increase in wine subscriptions was recorded after advertising on the world’s popular discovery site named Taboola. Advertising outside common sites like Amazon, Facebook, and Google to widen their strategies for sales growth.
- In May 2018, Splash wines announced their intent to enter in the UK market. Owing to this the company offered equity in the business to seek funds from investors of the UK. They collaborated with London –based Crowdcube for the smooth processing of this strategic plan.
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Segmentation of the Global Wine Subscription Market
By Subscription Type:
- Personalized Box
- Curated Box
By Delivery Frequency:
- Monthly
- Quarterly
- Bi-Annual
- Annual
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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