Press release
Wine Market Expanding as Global Demand for Premium Wines Rises
Wine Market
The global wine market is projected to expand significantly, with expectations to grow from $461.42 billion in 2024 to $718.94 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 5.7%.
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Wine Market Competitive Landscape and Regional Demand
The wine industry is experiencing heightened competition, with notable mergers and acquisitions reshaping the market. Regions such as Europe and North America continue to dominate consumption, while emerging markets in Asia-Pacific and Africa are witnessing increased demand due to changing consumer preferences and rising disposable incomes.
United States: Growth and Consolidation
The U.S. wine market is undergoing significant consolidation. For instance, E. & J. Gallo Winery acquired the Asti Winery and the Souverain brand from Treasury Wine Estates, enhancing its portfolio and market presence.
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Asia-Pacific: Opportunities and Trends
The Asia-Pacific region presents substantial growth opportunities for the wine industry. Increasing urbanization and a growing middle class have led to a surge in wine consumption. Investments by international wine producers are expected to cater to this burgeoning demand.
Europe: Trends and Updation
Europe remains a dominant force in the global wine market, with countries like France and Italy leading production and consumption. Recent trends indicate a shift towards organic and biodynamic wines, aligning with consumer preferences for sustainable products.
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Middle East and Africa: Growth and Opportunity
The Middle East and Africa are emerging as potential markets for wine, with South Africa's Stellenbosch region attracting French investors. Approximately 15 estates are now under French ownership, reflecting the region's growing appeal.
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Wine Market Segmentation:
by Product Type
Still Wine
Sparkling Wine
Fortified Wine and Vermouth
by Flavor
Red Wine
Rose Wine
White Wine
by Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Retailers
Others
Wine Market Key Players:
1. E. & J. Gallo Winery (USA)
2. Constellation Brands ((USA)
3. Treasury Wine Estates (Australia, with North American headquarters in Napa, California)
4. The Wine Group (USA)
5. Jackson Family Wines (USA)
6. Bronco Wine Company (USA)
7. LVMH Moët Hennessy Louis Vuitton SE (France)
8. Pernod Ricard (France)
9. Bacardi Limited (Bermuda, with European headquarters in London, UK)
10. Diageo (UK)
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