Global Wine Market to be worth around USD 680.99 billion by 2028 - Zion Market Research

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NEW YORK, Oct. 18, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Wine Market by Color (Red Wine, Rose Wine, White Wine and Others), By Product Type and By Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 - 2028". According to the report, global wine market was valued at approximately USD 430.99 billion in 2021 and is expected to generate revenue of around USD 680.99 billion by the end of 2028, growing at a CAGR of around 6.2% between 2021 and 2028.

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Market Growth Dynamics

Moderate wine consumption enhances the lipoprotein metabolism along with keeping the heart healthy. Apart from this, experiential studies have revealed that presence of polyphenols in red wine and its ability to destroy free radicals in the human body will aid in prevention of heart problems in both adult & geriatric population. All these aspects will steer the market expansion over the forecasting timeline. In addition to this, consumption of red wine enhances glucose metabolism & improves endothelial functioning and reduces inflammation along with controlling functions of blood lipids.

Furthermore, rapidly changing lifestyles and increase in the disposable income will peak up the market growth over the forthcoming years. Apart from this, massive preference for exotic wine flavors like tropical fruit wine and Riesling wine will promote the expansion of wine industry in the coming years. Nevertheless, introduction of strict laws by government authorities on wine sale as well as high taxes on wine import will create hurdles in the growth of the wine industry in the years to come.

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Regional Industry Analysis

The wine market is segmented on the basis of color into red wine, rose wine, white wine and others. The red wine segment is expected to dominate the global wine market. Based on product type, the market is divided into still wines, sparkling wines, dessert wines and fortified wines. The still wines segment is anticipated to dominate the market but sparkling wines segment is expected to grow fast due to its increasing demand as a celebration wine. On the basis of the distribution channel, the market is divided into supermarket and hypermarket, specialty stores, convenience stores, online channel, and others. Supermarket and hypermarket segment is expected to dominate the global wine market in the forecast period.

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are the regional segments of the global wine market. North America is anticipated to remain the leading region over the forecast period due to increase in production of wine. The growth in Europe is expected to be steady as there are already a number of wine producer and wineries in this region. The Asia Pacific is expected to show highest growth rate in forecast period because of the increase in demand for wine and growth of the production of wine in developing countries. Latin America and Middle East & Africa are also expected to show a steady increase in demand for wine market in the forecast period.

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Asia Pacific Zone to Account Majorly Towards Market Revenue By 2028

The growth of the business in the region over the period from 2021 to 2028 can be credited to rise in the presence of retail wine stores in the countries like India and China along with thriving online purchase of the product. Apart from this, large intake of wine during festivals along with huge discounts & offers during Christmas will prompt the business expansion in the sub-continent over the assessment timeline. In addition to this, loyalty coupons or promo codes offered by various firms like Bacardi and other reputed wine producers to attract new customers & retain existing ones in the Asian countries will contribute majorly towards the industry revenue of the region over the forecast timespan. Apart from this, a sky-rocketing popularity of premium wines will add to the thriving wine business of the region in the years ahead.

Key participants influencing the business growth are International Beverage Holdings, Accolade Wines, Constellations Brand, Soyuz Victan and SPI Group, E & J Gallo Winery, Torres, Global Drinks Finland, Treasury Wine Estates, John Distilleries, Vina Conch y Toro, Distell Group, and The Wine Group.

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This report segments the global wine market as follows:

Global Wine Market: Color Segment Analysis

  • Red Wine

  • Rose Wine

  • White Wine

  • Others

Global Wine Market: Product Type Segment Analysis

  • Still Wine

  • Sparkling Wine

  • Dessert Wine

  • Fortified Wine

Global Wine Market: Distribution Channel Segment Analysis

  • Supermarket and Hypermarket

  • Specialty Stores

  • Convenience Stores

  • Online Channels

  • Others

By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

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