The worldwide wine market is expected to rise significantly between 2023 and 2033. According to a study analysis published by Future Market Insights, the global market will be worth $5,34,226 million in 2023. It is expected to be worth US$ 8,75,293.8 million by 2033. From 2023 to 2033, the market is expected to grow at a 5% CAGR.
Along with this, the growing population’s increased buying capacity for premium wine brands is predicted to stimulate wine demand in the coming years. Malt, wheat, molasses, fruits, and botanicals are fermented to make alcoholic beverages. Fermentation and distillation are carried out according to the sort of drink to be produced. Beer and wine are not distilled, but spirits are made by distilling a fermented base. Distillation techniques vary depending on the sort of drink desired. These methods include steeping, percolation, and others.
Get More Insights From Report Sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-14246
Furthermore, a gradual increase in the party culture has been notice over the past few years which has contributed significantly to the market growth. Alongside this, peer pressure among students and adults and the influence of social media are convincing the consumers to experiment new drinks with different flavours.
A consistent growth is being observed since the past few years, especially for low ABV (alcohol by volume) drinks. Owing to this, the sales of low-alcohol or non-alcoholic wines is expected to escalate in the near future. This can be attributed to the rising interest of health-conscious consumers in drinks with low alcohol content and a wider choice of new flavored wines with improved taste. Due to the above factors, the demand for wine is predicted to surge over the forecast period (2022-2032).
Key Takeaways from Market Study
- Europe is expected to dominate the global market, accounting a share of about 32% by 2022, followed by North America
- The U.S. is expected to account for the dominant share of nearly 80% of the North America wine market
- Rising party culture among millennials in different regions across the globe is predicted to result in surging demand for wine and other alcoholic beverages during the assessment period (2022-2032)
- By product type, still wine is expected to account for the maximum share of the global market by 2022 end
- Sales via online channels are expected to show an impressive growth as compared to all the other channels over the assessment period (2022-2032)
Get Your Queries to the Analyst@
https://www.futuremarketinsights.com/ask-question/rep-gb-14246
Competitive Landscape
Various market players are adopting different marketing and promotional strategies such as partnerships, collaboration, merger and acquisitions, new product launches and geographical expansion. This is to cater the needs of the consumers and serve accordingly, thus, creating a larger customer base in the next few years.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global wine market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022 to 2032.
The study offers compelling insights based on product type (sparkling wine, still wine, fortified wine, and vermouth), flavor (red wine, white wine and rose wine), pricing (mass and premium), and distribution channel (direct and indirect) across seven (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa) major regions of the world.
Market Segmentation
By Type:
- Sparkling Wine
- Red Wine
- Dessert Wine
- White Wine
By Price Range:
- Below US$ 5
- US$ 5 to US$ 10
- US$ 10 to US$ 15
- Above US$ 15
By Nature:
- Organic
- Conventional
By Sales Channels:
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Pubs/Bars/Restaurants
- Online Retailers
- Others
Request Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-14246
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
