Wine Market Scope:
The wine market can project expansion at a rate of 5.95% between 2023 and 2030, reveals Market Research Future (MRFR). The market value by 2030 is expected to be USD 444.50 Billion, adds MRFR.
Growth Boosters and Deterrents:
With improving living standards across the world, wine is increasingly being preferred and consumers. The popularity of wine is fostered by the mounting number of functions and occasions like marriages, social gatherings, as well as parties. Wine is one of the most commonly consumed drinks in Europe, with almost every meal accompanied by the beverage. Moreover, the surging number of hotels, clubs, restaurants, coffee shops, and bars worldwide combined with the considerable growth of international tourism will mean a higher growth rate in the wine industry.
Discover the burgeoning Canada Wine Industry, where cool climate viticulture and innovative winemaking techniques produce a diverse range of high-quality wines. From the lush vineyards of British Columbia's Okanagan Valley to the picturesque wineries of Ontario's Niagara Peninsula, explore the stories and flavors behind Canada's dynamic wine market.
Various wine brands are working on leveraging the opportunity in the market and are therefore taking up marketing strategies via social media. The main aim is to spark the interest of as many young consumers as possible. The escalating number of netizens worldwide paired with the accelerated internet usage will also help bolster the Wine Market demand.
Emerging nations are some of the top spots for international manufacturers, owing to the surging acceptance of wine. A rising preference for vintage wines, mostly for special occasions could further bolster business growth in these countries. Another opportunity in emerging countries can be the fact that social media is gaining significant traction among millennials as well as the Gen Z population, which has raised the spending on wine and various alcohols.
Top Companies:
The global Key Wine Market Players are: Distell Group Limited (South Africa), Accolade Wines (U.K), J. Gallo Winery (U.S.), Constellation Brands (U.K), Vina Concha y Toro (Chile), Treasury Wine Estates (Australia), and Shanghai Torres Wine Trading Co. Ltd. (China) are a few of the most eminent wine developers and distributors in the worldwide industry.
Segmental Review:
The segmental investigation of the Wine Market is carried out on the basis of type, packaging, distribution channel and region. The type of segment of the wine market consists of white wine, red wine, rosé wine, and sparkling wine. The packaging type segment of the wine market consists of bottles and cans. The distribution channel segment of the wine market consists of foodservice and retail. The region segment of the wine market consists of North America, Europe, Asia Pacific, and other notable regional markets.
Recent Updates:
August 2022 The PlumpJack Collection of Wineries, one of the most prolific portfolios of highly renowned Napa Valley-based wineries such as CADE Estate Winery, PlumpJack Estate Winery, 13th Vineyard by CADE, and Odette Estate Winery has carried out the acquisition of Oso Vineyard, a high elevation area in northeastern Napa Valley. With this acquisition, The PlumpJack Collection has become one of the biggest estate wineries in all of Napa Valley.
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About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
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