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Robust Growth in the Wine and Brandy Market:
Wine And Brandy Market
The wine and brandy market has exhibited strong growth, surging from $161.94 billion in 2023 to an anticipated $170.72 billion in 2024, achieving a commendable compound annual growth rate (CAGR) of 5.4%. The wine and brandy market is poised for continued expansion, projected to reach $207.67 billion by 2028, maintaining a robust CAGR of 5.0%.
Ready-To-Drink (RTD) Beverages Driving Market Momentum:
The escalating demand for ready-to-drink (RTD) beverages is identified as a primary driver propelling the wine and brandy manufacturing (wineries) market in the forecast period. RTD beverages, characterized by their single-use packaging and immediate consumption at the point of purchase, are gaining popularity among working adults. The appeal lies in their clean labels, functionality, diverse flavors in the alcoholic beverages segment, and the convenience they offer. The increasing preference for RTD beverages, particularly in the alcoholic category, is anticipated to be a key factor driving the growth of the wine and brandy manufacturing market.
Growing Demand for Alcoholic Beverages:
The overall surge in demand for alcoholic beverages is anticipated to be a significant catalyst for the continued expansion of the wine and brandy market. Alcoholic beverages, containing ethanol produced through the fermentation of grains, fruits, or sugar sources, are witnessing heightened demand driven by socialization trends, a growing preference for premium alcoholic beverages, and increased affordability of high-quality cognac and brandy. The 2021 National Survey on Drug Use and Health (NSDUH) indicates a substantial population, with 78.3% of individuals aged 12 and older reporting alcohol consumption at some point in their lives. This robust demand for alcoholic beverages is contributing to the growth trajectory of the wine and brandy market.
Explore the Global Wine And Brandy Market with a Detailed Sample Report:
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Key Market Players:
Prominent companies shaping the wine and brandy market landscape include Pernod Ricard, Kirin Holdings Company Limited, Christian Dior SE, The Molson Coors Brewing Company, Constellation Brands, Suntory Holdings Limited, Asahi Group Holdings Ltd., Treasury Wine Estates Limited, Anheuser-Busch InBev sa/nv, Altria Group Inc., E. & J. Gallo Winery, Accolade Wines, Bacardi Limited, The Bronco Wine Company, Castel Group, Chapel Down Group PLC, Foley Family Wines Holdings Inc., The Wine Group, Delicato Vineyards Inc., Michael David Winery, Chalone Vineyard, Edna Valley Vineyard, Acacia Winery, Canoe Ridge Vineyard, Jade Mountain Vineyard, Sagelands Vineyard, Echelon Wine Partners Pty Ltd., Hewett Vineyard, Orogeny Vineyards, Arbor Mist Winery, Cook's Champagne Cellars, Paul Masson Grande Amber Brandy, Canandaigua Wine Company, Vendange, Banrock Station, Peter Mondavi Jr.
Innovations Driving Market Dynamics:
Integration of Augmented Reality Mobile Apps in Winery Marketing:
Wine manufacturers are increasingly leveraging augmented reality mobile applications to enhance their marketing strategies. These applications, when used with wine bottle labels, display engaging video content, narrating the brand's story and fostering customer engagement. For instance, Treasury Wine Estates introduced the 19 Crimes augmented reality mobile application, animating criminals depicted on its bottle labels when viewed through a phone camera.
Mercian Wines Targeting Japanese Consumers with Unique Offerings:
Major market players, such as Mercian Wines, are prioritizing product innovations to diversify their wine product portfolio and appeal to a broader consumer base. Mercian Wines, specifically tailored for Japanese consumers, was launched by Mercian Corporation in March 2022. The wines are crafted from a variety of grapes grown in Japan, offering a blend that is both familiar and enticing to the Japanese palate, available in various sizes.
Regional Overview:
In 2023, Western Europe emerged as the largest region in the wine and brandy market, with Asia-Pacific securing the second-largest position. The comprehensive market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The wine and brandy market covered in this report is segmented -
1) By Type: Wine, Brandy
2) 3) By Category: Mass, Premium
3) By Distribution Channel: Off-Trade Channels, On-Trade Channels
Subsegments Covered: Still Wine, Sparkling Wine, Cognac , Armagnac
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/wine-and-brandy-global-market-report
Wine And Brandy Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Wine And Brandy Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on wine and brandy market size, wine and brandy market drivers and trends, wine and brandy market major players, wine and brandy market competitors' revenues, wine and brandy market positioning, and wine and brandy market growth across geographies. The wine and brandy market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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White Wine Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/white-wine-global-market-report
Beer Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/beer-global-market-report
Premix Cocktails Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/premix-cocktails-global-market-report
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