Wine Market Industry Analysis, Trends, Market Size And Forecasts To 2027

Precision Business Insights published a research report on “Wine Market by Product Type (Still Wine, Sparkling Wine, Dessert Wine, and Fortified Wine), By Color (Red Wine, Rose Wine, White Wine, and Others), and Geography- Global/Region/Country Forecast to 2027’’. The global wine market size was valued at USD 400 billion in the year 2020 and is anticipated to value 609 billion by 2027 at a CAGR rate of 6.2% during the forecast years 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Wine Market: By Product Type (Still Wine, Sparkling Wine, Dessert Wine, and Fortified Wine), By Color (Red Wine, Rose Wine, White Wine, and Others), and Geography- Global/Region/Country Forecast to 2027".

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Increasing Popularity for the Wine Products is Fuelling the Global Wine Market
The global wine market report provides historical present and upcoming market sizes on the basis of region, product type and color. This market report further aims at providing wide-ranging viewpoint around the regions with special focus on leading regions including Latin America, North America, Europe, Middle East, Africa and Asia Pacific. Prominent factors fueling the wine consumption growth in the market are the influence of demographic and macroeconomic factors. A few of the factors contribute towards surging the global wine markets are novel product releases by key players and focus of key players’ more on mergers and acquisitions to leverage their place and expand their business in the wine market.

Growing wine production by the developing economies and novel markets and changing lifestyle also contribute to drive the growth of global wine market. In addition, preference of aging population to have wine over hand drinks in social celebrations and growing popularity for the wine products impelling the market growth. On the other hand, availability of other alternatives for wine, heavy taxation and legal regulations may restrain the market growth over the evaluation time span. On the basis of product, still wine segment is anticipated to grow at high CAGR rate over the forecast duration because of the growing adoption of customers to still wine, which is free of carbon dioxide and hence lacks effervescent and sparkling properties. Among all the regions, Europe records biggest market share of still wine sales of more than 55% whereas North America takes up 15.2% of total sales of still wine and Asia Pacific 11.3%.

Europe Witnessed lager revenue share in the Global Wine Market
Europe witnessed larger revenue share in the global wine market experiencing considerable CAGR rate due to the high wine production in European economies and presence of several market participants. Europe witnesses more than 50% global wine market share. Russia, Italy, France contributes larger share of the wine production, which is more than 50% of the global wine production. U.S. wine market is expected to experience considerable growth during the estimation time period.

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Competitive Analysis – Global Wine Market
There are major players working in the global wine market, which include Caviro, Concha y Toro, Constellation Brands, Diageo, E&J Gallo and Grupo Penaflor. Key stakeholders of the global wine market are marketers, suppliers, manufacturers, service providers and suppliers engaged in the global wine products.

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