Wine Market Size 2024-2028

The wine market size is projected to increase by USD 156.8 billion at a CAGR of 4.93% between 2023 and 2028. Market expansion relies on multiple factors, notably the surge in online sales channels, heightened application and demand in the food industry, and the burgeoning awareness of wine's health benefits. As consumers increasingly embrace e-commerce for purchasing convenience, the industry is adapting to meet this demand by enhancing its online presence. Moreover, the integration into culinary experiences further stimulates market growth, as it becomes an integral component of dining occasions. Additionally, the recognition of wine's health and wellness attributes, such as antioxidants and moderate consumption benefits, contributes to its popularity among health-conscious consumers. By leveraging these factors, the market capitalizes on evolving consumer preferences and lifestyle trends, fostering sustained growth and innovation within the industry.

What will be the Size of the Wine Market During the Forecast Period?

The market shows an Accelerated CAGR during the forecast period.

 To learn more about the wine market report, Request Free Sample

The global wine market is undergoing a period of rapid evolution, driven by a confluence of factors, including changing consumer preferences, economic growth, and technological advancements. Key trends shaping the industry include a shift towards premiumization, the increasing popularity of e-commerce, and a growing focus on sustainability. As consumers become more discerning, there is a demand for high-quality wines from diverse regions, with a particular emphasis on organic and biodynamic production methods. Additionally, the rise of natural wines has gained traction among those seeking authentic and minimally processed beverages. The wine industry is also adapting to technological advancements, such as precision viticulture and innovative packaging, to improve efficiency and enhance the consumer experience. Overall, the global wine market presents both challenges and opportunities for businesses, as they navigate the evolving landscape and strive to meet the changing needs of consumers.

Wine Market Segmentation

Wines are valued for their aromatics, flavor, and aroma, making them popular in both drinking and cooking applications. Ensuring adequate water usage and focusing on natural aroma compounds enhance the overall experience of organic wine, appealing to health-conscious consumers and connoisseurs alike. The wine market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Distribution Channel Outlook
  • Off-trade
  • On-trade
• Product Outlook
  • Red
  • Fortified
  • White
  • Sparkling
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

By Distribution Channel

The market share growth by the off-trade segment will be significant during the forecast period. Supermarkets and hypermarkets are the major retailers in the off-trade distribution channel. These retailers offer a wide range from different producers, countries and regions, making it easy for customers to purchase a variety of wines. 

The off-trade segment was valued at USD 260.60 billion in 2018 and showed a gradual increase during the forecast period.

For a detailed summary of the market segments, Request Sample Report

Off-trade distribution channels refer to selling products or services to consumers through retail outlets such as supermarkets, convenience stores, convenience stores, kiosks, wine and liquor stores, and online platforms. Off-trade distribution channels are methods of selling wine that takes place outside of bars, restaurants, or nightclubs. Due to its convenience, this distribution channel is popular with customers who prefer to buy and consume it at home. Sales through off-trade distribution channels are expected to increase significantly during the forecast period, owing to the proliferation of wine e-commerce and the rise of supermarkets, hypermarkets and department stores across the globe. 

By Region

Europe is estimated to contribute 39% to the growth of the global market during the forecast period

Get a glance at the market share of various regions. View PDF Sample

In 2022, Europe will account for the largest share of the market and is anticipated to become one of the key markets during the forecast period. The market is driven by steady growth in Eastern Europe. Breweries and wineries are one of Europe's largest businesses and offer numerous employment opportunities. Portugal, France, Italy, and Switzerland are the major European wine consumers. Moreover, in Europe, non-trade consumption of wine is higher than on-site consumption. Demand for wine is greatest among the elderly. This consumer segment prefers premium wines.  

Wine Market Dynamics

E-commerce platforms have revolutionized the market, offering diverse selections of alcoholic beverages to consumers worldwide. Alcohol, particularly in fortified wine, contributes to its distinctive taste, along with elements like tannins. However, excessive consumption may lead to cell damage. Despite this, moderate consumption is often associated with health benefits, such as reducing the risk of the common cold and combating enzymatic browning. This balance underscores the complex relationship between alcohol and health in the context of wine consumption. The wine industry is thriving, with a growing emphasis on sustainability and organic methods in wine production. Key ingredients like grapes, potassium sorbate, potassium metabisulfite, acids, and sugar are essential for crafting high-quality wines. The presence of resveratrol in wine is noted for its health benefits, including reducing bad cholesterol, balancing blood sugar levels, and potentially lowering the risk of cancer. 

The wine industry is experiencing a period of significant transformation, driven by a combination of factors, including changing consumer preferences, economic growth, and technological advancements. Key trends shaping the market include a shift towards premiumization, the increasing popularity of e-commerce, and a growing focus on sustainability. As consumers become more discerning, there is a demand for high-quality wines from diverse regions, with a particular emphasis on organic and biodynamic production methods. Additionally, the rise of natural wines has gained traction among those seeking authentic and minimally processed beverages. The wine industry is also adapting to technological advancements, such as precision viticulture and innovative packaging, to improve efficiency and enhance the consumer experience. Overall, the global wine market presents both challenges and opportunities for businesses, as they navigate the evolving landscape and strive to meet the changing needs of consumers.

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Increasing use of online sales channels is the key factor driving the growth of the wine market. The availability of online stores and online specialty stores, along with the convenience of online shopping offers consumers a wide range of choices. Consumers are more comfortable shopping online because they can compare prices. Increasing use of online channels for purchasing is likely to drive the growth of the market over the forecast period. The presence of strong online distribution channels and platform providers, such as WineWell, LiquorKart, and others, are expected to boost the growth of online sales.

Additionally, the increase in online sales channels is expected to create new opportunities for companies to target customers without geographical boundaries, improve their operational efficiencies, and provide customized products to consumers. Moreover, the online sales platform eliminates middlemen such as distributors and enables companies to offer products at competitive prices while maintaining their profit margins. Such factors will increase the online sales channels during the forecast period.

Significant Market Trends

The increasing prominence of private-label brands is the primary trend in the market. Private-label wine is becoming an important area for retailers around the world. Various retailers are selling different types of wine under their own brands to increase their profitability, which contributes to the growth of the market. Leading retailers around the world are launching their own brands to capitalize on the growing consumer demand for wine. In the last decade, the private-label product segment has grown in terms of scope and size. For instance, China-based Alibaba sells a variety of sparkling brands under its own brand.

Furthermore, retailers, especially grocery stores, see the private-label category as a profitable option with margins that are 10%-15% higher than national and global brands. Private-label wines are made exclusively for a single retailer and are sold under the retailer's own brand name, not the winery brand. Major grocery retailers, such as Tesco Plc and Aldi Stores Ltd., have come up with their own brands of sparkling wine, and the penetration level of private labels in some European countries is more than 50%. Therefore, the growing prominence of private-label wines is expected to drive wine market growth during the forecast period.

Major Market Challenge

Rising competition from other alcoholic beverages is a major challenge to the growth of the market. The market faces increasing competition from other alcoholic beverages, which could hamper its growth and popularity. Alternatives such as beer, spirits, and cocktails are available worldwide and are sometimes cheaper and more accessible than wine.

Moreover, younger consumers may be more attracted to the sweeter and more flavorful options offered by other alcoholic beverages rather than the more traditional taste of wine. These factors, along with others, can make it challenging for the market to compete with other alcoholic beverages and maintain its growth and popularity, which will negatively impact wine market growth during the forecast period.

Key Wine Market Companies & Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.

Accolade Wines Australia Ltd.: The company offers wines such as Pinot Gris, Sauvignon Blanc, and Riesling.

The wine market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about Key companies, including:

Accolade Wines Australia Ltd., Boisset Family Estates, Bronco Wine Co., Casella Wines Pty. Ltd., Castel Freres, Charlie and Echo, Concha y Toro, Delicato Family Wines, Deutsch Family Wine and Spirits, E. and J. Gallo Winery, Emiliana Organic Vineyards, Harris Organic Wines, Inglenook, Jackson Family Wines Inc., King Estate Winery, Les Domaines Barons de Rothschild Lafite, Pernod Ricard SA, The Wine Group LLC, and Treasury Wine Estates Ltd.

The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Maret Analyst Overview

Wine tourism offers enthusiasts immersive experiences into diverse wine varieties across regions, complemented by Western cuisines. Exploring red wine varieties like Chianti and champagne contributes to expanding palates and understanding the luxury wine market. While alcoholic beverage consumption is linked to circulatory issues, moderate wine consumption may benefit heart health, reducing the risk of heart diseases like atherosclerosis and stroke. This positive association fosters a positive outlook towards wine's product adoption. With an emphasis on high-quality ingredients and organic wine, sparkling wine and premiumization, flavored fortified wines cater to evolving lifestyles, resonating particularly with young consumers conscious of health and carbon footprint.

Further, retail sales channel plays a pivotal role in distributing wines like vermouth, offering options for consumers concerned about circulatory diseases such as coronary heart disease and heart failure. Wines, known for their delicate flavors and richness of products, foster socializing and enjoyment. Despite concerns about chemicals used in harvesting, responsible practices by growers ensure quality. Moderate wine consumption may even benefit the liver and align with health consciousness, making it suitable for those with conditions like celiac disease seeking options that balance indulgence with wellness during the market forecast period.

The wine industry is a significant sector in the agricultural business, with red wine being the most popular alcoholic beverage among consumers. Wine production involves growing grapes, fermenting the juice, and aging the wine. The wine industry is known for its commitment to sustainability, with many wineries adopting organic methods to minimize their environmental impact. Red wine, rich in antioxidants, is particularly celebrated for its health benefits. The wine industry continues to innovate, with a focus on producing high-quality wines while prioritizing sustainability in wine production. Consumers are increasingly seeking out wines that are produced using organic methods, further driving the industry's focus on sustainability.

Buy Full Report Now

What are the Key Data Covered in this Wine Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market's competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this wine market research and growth report to meet your requirements. Get in touch