Wine Market Revenue, Company Growing Demand, Top Companies, Regional Outlook Up To 2027

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Wine Market
Wine Market 

Expanding the number of bars and restaurants, experimenting with new types of entertainment like night parties, rising demand from emerging economies, and preference for low-calorie alcoholic beverages are some of the major drivers expected to drive the Wine Market. For instance, compared to cafés during the same time period, the number of pubs and bars increased by over 23% in India between 2014 and 2016. The market for wine is also being significantly influenced by the health benefits connected to it, such as a decreased risk of heart disease, type 2 diabetes, and cataracts.

Additionally, the market for wine is anticipated to experience a positive growth trend throughout the forecast period as more millennials switch from beer and spirit-based drinks to wine. Additionally, the continued rise in female alcohol consumption is boosting the demand for red and white wine and boosting the global Wine Market. Over 55% of women in the US are said to favour wine, whereas just about 39% prefer beer, according to a Coherent Market Insights report. One of the biggest obstacles to the market's expansion is wine's high price when compared to other alcoholic beverages like beer.

In 2016, the Wine Market was worth US$ 296.03 billion, and by 2025, it is expected to be worth US$ 404.64 billion. During the forecast period, the market is anticipated to display a CAGR of 3.23 percent (2017-2025).

Red wine was the most popular choice across all customer segments in 2016, and the still wine sector controlled the majority of the market share with almost 83% of all product types. Consumer tastes and preferences are evolving, and there is a growing market for wines with novel and exotic flavours like Riesling and other tropical fruit wines. Due to the rising consumption of champagne at social gatherings, the market for sparkling wine is anticipated to expand at a CAGR of 4.94% during the forecast period.

Europe has a 63% market share in 2016, making it the market leader. The main growth drivers in the Wine Market during this time were France, Spain, Italy, and Germany. Additionally, due to their extensive vineyard areas, Italy, Spain, and France supplied more than half of the world's wine production. The wine for market is anticipated to develop at the fastest rate till 2022 in Asia Pacific.

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