Global Wine Market - Growth, Trends and Forecasts (2016 - 2021)
The global wine market is currently valued at USD 304 billon and is expected to reach at USD 370 billion by 2021, at a 3.4% CAGR. The wine market is huge, largely dominated by the European and North American countries. The USA, Italy, France and Spain are the largest producers and consumers of wine. In the international trade, the European region has more than 50% share of the global wine trade. Currently, there are about one million small and big wine makers, globally and the worldâ€™s most famous brands (around 84%) are French. The global wine demand is on the rise and covers many non-traditional markets for wine production and consumption.
The global wine market is driven by the changing lifestyles and consumption habits of wine, rapid urbanization and high disposable incomes, and popularity of wine products during social celebrations. Heavy taxation and legal regulations by governments and availability of other substitutes for wine would create a hindrance for the growth of the market. The major opportunities identified in the sector are innovative wine products with different flavors and growing demand for wine in the non-traditional market.
The global wine market can be segmented into five categories - by taste, by wine style, by color, by body type, and by geography. In the taste type, wine can be classified into dry, medium, and sweet wine. By the wine style, wine market can be segmented into still wine, sparkling wine, dessert wine, and fortified wine; wherein still wine accounts for most of the market share. Sparkling wine consumption is expected to experience the highest growth as a celebration wine. The major wine types as per color are red wine, white wine and rose wine. The market is further segmented by body type into light, medium and heavy.
By region, the European Union is a market leader in wine production, consumption and trading, accounting for half of the market share. Italy, Spain, and France are the countries which account for half of the global wine production. North America is the other major region where the USA alone accounts for the highest per capita consumption of wine. The country has surpassed France as the worldâ€™s foremost wine consumer, with average annual consumption of 12 liters per person. The USA is the largest wine producer in North America. In the South American region, Argentina and Chile are the major producers and consumers of wine. Asia-Pacific is the fastest growing market for wine consumption, supported by the high adoption rate of Western culture & lifestyle, large population, and the largest growing middle-class households. China, Japan, and India are the big markets in this region. Africa is growing at a slow rate in wine consumption. South Africa is the largest market for wine in Africa.
The competition in global wine market is reported to be large, mostly in developed countries of North America and Europe, with static growth over the years. Around 43% of the global wine consumption is in the non-wine producing regions. It is because of a huge population driven demand of wine products in such non-traditional wine consumption countries; all big brewers are growing their business in such regions.
Multiple product launches, innovative product packaging, flavored and crafted wine products, huge marketing & promotional activities, and mergers and acquisitions with smaller level players have been a strong business strategy for market growth here.
The top players of wine markets are-
Concha y Toro
Treasury Wine Estates
The Wine Group
Key Deliverables in the Study
Market analysis for the global wine market, with region specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors at both global and regional levels.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
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