According to Fact.MR, the global market for white wine is expected to reach over US$ 46 Bn revenues by the end of forecast period, 2017-2022.
Rockville, MD -- (SBWIRE) -- 11/15/2017 -- According to a recently-published report by Fact.MR, white wine is likely to lose its traction in the food & beverage industry for the time to come. By the end of 2022, the global market for white wines will have expanded at a listless pace of 3.5% CAGR, raking revenues worth just over US$ 46 Bn. Following insights will reveal how increasing awareness about inferior health benefits associated with white wine consumption will impede the growth of global white wine market, during the forecast period, 2017-2022.
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Key Highlights on Future of Global White Wine Market
1- Throughout the forecast period, Europe will remain the largest market for white wine. Cultural influences and lifestyle habits makes white wine a popular drink among European consumers of all ages.
2- The white wine market in North America, meanwhile, will reflect growth at a relatively steadier pace compared to Europe's white wine market. Considering the rising demand for alcohol-based beverages in US, North America's white wine market will witness a relatively steady demand throughout the forecast period.
3- The report also projects that the Asia-Pacific excluding Japan (APEJ) region will register fastest expansion for its white wine market, bringing in nearly US$ 7.6 Bn revenues by 2022-end. Robust industrial infrastructure, coupled with ample availability of grapes, is expected to boost the growth of white wine market in the APEJ region.
4- Pinot Grigio, a key product segment in the global market for white wines, is expected to showcase absolute dollar opportunity worth over half a billion dollars by 2022 over 2017.
5- Chardonnay wines will grow at a relatively steady pace, compared to sluggish sales projections of other types of products available in the global market. By 2022-end, the global white wine market will have procured over US$ 6 Bn revenues through sales of Chardonnays.
6- Over the forecast period, Riesling will be the top-selling white wine in the world, procuring the largest revenue share on the global market.
7- Between 2017 and 2022, global sales of white wines through other retail formats will have created an incremental opportunity of more than US$ 1 Bn. On the same line, the report also predicts that modern trade outlets will continue to dominate the global market by being the largest sales channel for white wines.
8- Nearly two-fifth of global white wine revenues will be amassed from sales of light-bodied white wines. By the end of 2022, a little over US$ 17.8 Bn revenues are expected to come from sales of medium-bodied white wines.
9- In 2017 and beyond, the demand for sweet white wines will have witnessed a considerable decline. By the end of 2022, less than one-fourth share of global revenues will be procured from global sales of sweet white wines.
10- The report further projects a conversely high demand for semi-sweet white wines. Towards the latter half of the forecast period, sweet white wines will have surpassed global revenue share of 40%, reflecting a relatively steady CAGR compared to dry and sweet white wines.
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The report has also profiled prominent players in the global market for white wine, which include Diageo Plc., Caviro, Viña Concha y Toro SA, The Wine Group, Casella Family Brands, Grupo Peñaflor S.A., E&J Gallo Winery, Accolade Wines Australia Limited, Treasury Wine Estates, and Constellation Brands, Inc.
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