WASHINGTON, May 23, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Wine Market finds that the increasing e-commerce platforms are expediting market growth. Primarily driven by rising demand for high-quality streaming from consumers, the total Global Wine Market is estimated to reach USD 599.5 Billion by the year 2028.

The Global Market revenue stood at a value USD 417.9 Billion in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 6.20%.

Furthermore, the increase in adoption of wine among all age groups is also anticipated to augment the growth of the Global Wine Market, states Vantage Market Research, in a report, titled “Wine Market Size, Share & Trends Analysis Report by Product (Table Wine, Dessert Wine, Sparkling Wine), by Distribution Channel (On-trade, Off-trade), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Rising E-commerce Platforms to Stimulate the Global Wine Market

The increasing e-commerce platforms are anticipated to augment the growth of the Wine Market in the years to come. E-commerce has been a more popular way to buy alcohol in recent years, and it is likely to continue to increase during the projection period. Consumers enjoy a variety of benefits, including a convenient shopping experience, on-time home delivery, and various schemes. As a result, in important markets such as the United Kingdom, the United States, Italy, Spain, and others, the online sales channel plays a critical role. According to the Netherlands' Ministry of Foreign Affairs, online sales in developed regions such as Europe and North America are predicted to expand by about 15% yearly. Furthermore, the COVID-19 situation has promoted the e-commerce beverage sector. Also, during the lockup phase, the growth of this channel climbed at a high percentage in volume on average. As a result, manufacturers are focusing on building new e-commerce platforms and forming partnerships in order to increase their market share. E-commerce development is projected to be bolstered in the future by technical advancements and enhanced distribution networks.

Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Wine market is predicted to grow at a CAGR of roughly 6.20% during the forecast period.

• The Wine market was estimated to be worth roughly USD 417.9 Billion in 2021 and is expected to reach USD 599.5 Billion by 2028; based on primary research.

• On the basis of region, Asia Pacific is projected to dominate the worldwide Wine market.
  

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Segmentation of Wine Market:

• Product

  • Table Wine

  • Dessert Wine

  • Sparkling Wine

• Distribution Channel

  • On-trade

  • Off-trade

• Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa
    

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Increasing Adoption of Product Premiumization Strategy to Augment the Global Wine Market Growth

The increasing adoption of product premiumization is anticipated to augment the growth of the Wine Market within the estimated period. Consumption of this beverage is now more likely to be linked with a wealthy and opulent lifestyle among customers, resulting in market expansion. Consumers in the big developed economies are curious and want to buy a wide range of high-quality Wine Market products. Manufacturers are promoting the launch of various premium and sensory brands in the market as consumers become "Wine Market connoisseurs," or experts in the assessment of taste. Premiumization is an element of consumer trends that attracts long-term revenue from around the world. Furthermore, with companies like Sula Vineyards Pvt. Ltd. and Ardagh Group S.A., recently introducing canned products, millennials and less experienced liquor consumers throughout the world will have more opportunity to taste and appreciate it in the coming years. Furthermore, canned liquor is a more accessible and affordable drink for folks and it is gaining widespread popularity, and it is predicted to become the next market and beverage consumer trend.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the food & beverage industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic

   1. North America

   2. Europe

   3. Asia Pacific

   4. Latin America

   5. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long Term Dynamics

5. Short Term Dynamics

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The Report on Wine Market Highlights:

• Assessment of the Market

• Premium Insights

• Competitive Landscape

• COVID Impact Analysis

• Historic Data, Estimates, and Forecast

• Company Profiles

• Global and Regional Dynamics
  

Regional Analysis:

Europe Dominated the Global Wine Market

Europe dominated the Global Wine Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the rising per capita wine consumption per year in economies such as Portugal, Italy, and France in the region. Furthermore, economies like Germany and the U.K. are the biggest importers of Wine Market which is also contributing significantly towards the regional growth of the market. Additionally, rising adoption of low ABV beverages is also expected to support the growth of the market in the region.

List of Prominent Players in the Wine Market:

• Asahi Group Holdings Ltd.

• Beijing Yanjing Beer Group Corporation the Wine Group

• Castel Frères

• Accolade Wines

• Constellation Brands Treasury Wine Estates (TWE)

• Pernod Ricard

• E. & J. Gallo Winery

• Viña Concha y Toro

Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Wine Market Size, Share & Trends Analysis Report by Product (Table Wine, Dessert Wine, Sparkling Wine), by Distribution Channel (On-trade, Off-trade), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/wine-market-618994

Recent Developments:

October, 2021: Wine Water, one of the pioneers of the "better for you" alcohol beverage category, announced the launch of its newest varietal, Wine Water Sauvignon Blanc. The product is currently available in 1,000+ retailers nationwide.

August, 2021: Ackley Beverage Group, a family investment company for the Northwest wine industry, announced that they are adding to their portfolio of wine brands with the launch of Cataclysm, a new collection of wines from Washington State.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?

• Which are the top five players of the Wine Market?

• How will the Wine Market change in the upcoming six years?

• Which application and product will take a lion’s share of the Wine Market?

• What is the Wine market drivers and restrictions?

• What will be the CAGR and size of the Wine Market throughout the forecast period?

This report titled “Wine Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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• Top Companies in Wine Market: - https://v-mr.biz/wine-market
  

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