The wine market size is anticipated to expand from $307078 million in 2016 to $395078 million by 2025, at a CAGR of 2.90% between 2017 and 2025. The base year considered for the wine market report is 2016 and the forecast period is from 2017 to 2025. The popularity of wine in social occasions and celebrations, rapid urbanization and high disposable income and increase in marketing and promotional activities are the key drivers of the global wine market.
The global wine market is also segmented on the basis of four major product categories, namely fortified wine and vermouth, non-grape wine, sparkling wine and still light grape wine. Further, these product categories has been discussed at country-specific level.
The wine market in Europe is anticipated to hold a colossal share by 2025. The major driving forces responsible for the proliferation such as dominance of EU in bulk wine imports, increased awareness about wine, strong on-premise channel growth and increasing disposable income. After France and the UK, China and Japan are anticipated to be the developing markets for the wine. The mentioned countries are anticipated to witness rise in wine consumer base and increased production of wines with rich flavour and aroma, compared to other geographic regions
Major players in the wine market are E & J Gallo Winery, The Wine Group, Constellation Brands Inc, Andrew Peller Ltd, Accolade Wines, Castle Group, AMVYX, Bacardi Limited, Gruppo Campari, Vina Concha y Toro, Miguel Torres SA, Diageo Plc, Pernod Ricard, Remy Cointreau and Treasury Wine Estate.