Global Wine Market Report Provides Future Development Possibilities By Key Players, Key Drivers, Competitive Analysis, Scope, And Key Challenges Analysis. The Reports Conjointly Elaborate The Expansion Rate Of The Industry Supported The Highest CAGR And Global Analysis. This Report Providing An In-Depth And Top To Bottom Analysis By Market Size, Growth Forecast By Applications, Sales, Size, Types And Competitors For The Creating Segment And The Developing Section Among The Market. Market Expansion Worldwide With Top Players Future Business Scope and Investment Analysis Report.
The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Global Wine Market is expected to reach a healthy CAGR of 7.1 % in the forecast period 2019 to 2026.
MAJOR PLAYERS: Global Wine Market
Some of the prominent participants operating in this market are Accolade Wines, The Wine Group, Davide Campari-Milano S.p.A., E. & J. Gallo Winery, Constellation Brands, Inc., John Distilleries, India, Castel Group, CDV · Compagnia del Vino, AMVYX, BACARDI, Pernod Ricard, TREASURY WINE ESTATES, Caviro, Miguel Torres S. A., Concha y Toro, Sula Vineyards Pvt. Ltd., Chapel Down and others.
- On the basis of type, the market is segmented into still wines, sparkling wines, fortified wines and others. In 2019, still wines segment is expected to grow at a CAGR of 7.0% in the forecast period of 2019 to 2026. However, sparkling wines segment is growing with highest CAGR 8.0% in the forecast period of 2019 to 2026.
- On the basis of colour, the market is segmented into red wine, white wine, rose wine and others. In 2019, red wine segment is expected to grow at a CAGR of 7.30% in the forecast period of 2019 to 2026. However, white wine segment is growing with highest CAGR 7.33% in the forecast period of 2019 to 2026.
- On the basis of distribution channel, the market is segmented into off trade and on trade. The on trade is sub-segmented into specialty stores, online retailers and others. In 2019, off trade segment is expected to grow at the highest CAGR of 7.2% in the forecast period of 2019 to 2026.
DRIVERS: Global Wine Market
Growing Consumption of Wine:
- Wines has been studied extensively by the people and it have been found that moderate consumption of wine by an individual may help to live longer, gives protection against cancer, improvement in mental health and also enhances heart health. Due to such benefits the consumption of the wine as well as production of the wine is increasing in recent era.
- According to trade data and analysis, worldwide consumption of wine was 24,707,701 liters in the year 2015 which was increased from 2014 where in it was 24,578,251 liters. The increase is due to health benefits among the people which helped the market to grow.
CHANGES IN LIFESTYLE:
- In recent time the lifestyles of an individual have changed due to standardization and industrialization and hence it has led today’s world in a drastic change in all form such as living style and others. These changes in lifestyle are also responsible for changes in dietary patterns.
- Better lifestyle means people are getting rich and famous and hence they are more attracted to these things such as wine and other alcoholic products which are used when they arrange their parties. So, it can be seen that wine market is growing due to change in life style among people as people feel joy and fun in consuming these products mostly during parties.
GROWING HEALTH CONSCIOUSNESS AMONG CONSUMERS:
- In recent time younger consumers are the most willing people thinking about their well-being and wellness-oriented lifestyle care. The people with better education and facilities of nutrition, fitness, work-related stress and the environment come under “health-conscious consumer profiles”.
- Changing concern toward healthier foods and beverages among people provides health benefits, thus helping this market to grow. For instance, red wine is a good source of antioxidants as it contains flavonoid that reduces the risk of coronary heart disease. With such benefits people or consumers are getting more attracted towards it.
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Synopsis of the report
- Major players and brands
- Drivers and restrains of the market
- Industry Chain Suppliers of Global Wine Market with Contact Information
- Historical, current and projected market size in terms of volume and value
- In-depth market segmentation
- Competitive landscape
High Cost of Wine Production:
- The wine market in recent time has undergone very important changes due to globalization and consumption behaviour of consumers. In recent era, the demands of the consumers have become more and more complex as there is an increase in heterogeneity when it comes to preferences.
- After fermentation wines are aged in oak barrel aging systems, however with the traditional aging technology it takes lengthy time and high cost.
Increasing Disposable Income & Growing Demand of Wine:
- An increase in the disposable income means increase in household income which is available for spending and saving. Increase in saving money is making people to spend on some other things such as parties, fun full events and other.
- The wine is an agricultural product that can increase the capital income. India is an agricultural land and it provides major production of grapes by which wine is produced. As the wine consumption is increasing, grape production need to be also increased to fulfil the demand of manufacturers to produce more wine.
- Due to increase in the demand of wine by consumers, it is helping this market to grow. As wine is an agricultural product, hence it is helping to increase the per capita income of countries such as India, Germany, France and others.
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Increase in Substitute Products and Services:
- There are various other products that are same as that of wine and hence this can be found to be a threat to this market. Other alcoholic products are gaining much popularity in alcoholic field. Younger Americans prefer other alcoholic beverages than wine.
- Availability of comparable products or substitutes may hamper the growth of the market. For instance, wine has upper class in alcoholic beverages and hence it has higher cost while other products have lower cost and people would prefer such products instead of wine.
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