Still Wine Market Size to Worth Around USD 55.8 billion by 2031 | Miguel Torres S. A., The Wine Group Inc.

Market Overview:

Still wine is produced without the addition of carbon dioxide or yeast. Popular still wines include red wine and white wine. Still wines are traditionally consumed with meals and social gatherings.

Market Dynamics:

Still wine consumption is witnessing strong growth owing to the rising preference of millennials toward wine. As per a survey, nearly 60% of millennials consume wine several times a week. They are more inclined toward experimental flavors and are open to trying new varieties of still wine. Further, the health benefits associated with moderate wine consumption such as reduced risk of heart diseases have propelled its demand among health-conscious consumers globally. Another factor fueling the still wine market growth is the increasing availability of organic, vegan, and low-calorie wine options targeted toward health-conscious consumers.

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Widening demographics: Key market driver fueling the still wine market growth

The still wine market has been witnessing significant growth over the past few years owing to the widening demographics favoring wine consumption. Traditionally, wine was consumed by the high-income groups and was perceived as a luxury product. However, with growing awareness and education about the health benefits of moderate wine consumption, more and more middle-income groups are preferring wine over other alcoholic beverages such as beer and spirits. The market has also benefited from the growing popularity of wine among millennials and young adults who are frequent consumers and experimenters. Winemakers are launching affordable yet premium still wine products targeting these segments to further penetrate the market.

Growing popularity of premiumization and specialty wines: Big untapped market opportunity

Consumer aspirations towards premiumization are opening lucrative opportunities for high-quality still wines. As incomes rise, discerning customers are willing to pay premium prices for superior tasting, single-variety and limited-production wines made from unique grape varieties. The specialty or niche wine segment focusing on organics, natural/biodynamic wines made from indigenous grapes is fast gaining favor among enthusiasts and collectors globally. Wine tourism is another area witnessing strong growth as travel has become an integral part of many lifestyle experiences. Promotional activities leveraging iconic destinations help strengthen branding and recall while acquainting new drinkers to high-end offerings paving way for a robust luxury segment.

Sustainability initiatives and technology adoption: Key market trend impacting future growth

mounting environmental concerns along with changing consumer preference for eco-friendly products have propelled sustainability initiatives across industries globally. The wine industry is no exception and is embracing greener practices in vineyards and operations. Initiatives like organic and biodynamic farming, renewable energy usage, waste management, sustainable packaging are gradually becoming standard. Advanced technologies are also transforming viticulture with precision tools for soil management, pest control and optimized irrigation. Analytics is enabling hyper-localization and customization. Blockchain, augmented reality and virtual tasting experiences are enhancing consumer engagement. While sustainability involves investment, the long-term benefits of brand positioning, cost savings and supporting UN goals will accelerate widespread adoption and help attract younger conscious consumer base driving future growth.

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Top Companies Included in This Report:

★ Miguel Torres S. A.
★ The Wine Group Inc.
★ Treasury Wine Estate
★ Castel Group
★ Accolade Wines
★ Concha y Toro
★ among others.

Market Segmentation:

Based on Product Type:

★ Still Red Wine
★ Still White Wine
★ Still Rose Wine
★ Hypermarkets
★ Supermarkets
★ Specialty Stores
★ Online Stores
★ Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

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This release was published on openPR.