Wine Market (Product Type - Fortified Wine, Sparkling Wine, Still Wine; Distribution Channel - Convenience Stores, On-trade, Specialist Retailers, Super-markets and Hypermarkets; Region - North America, Europe, Asia-Pacific, and Rest of World): Global Industry Analysis, Trends, Market Size and Forecasts up to 2024. The global wine market is projected to grow at a CAGR of 3.5% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 03/26/2019 -- The Wine Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Wine Market by type (fortified wine, sparkling wine and still wine), distribution channel (convenience stores, on-trade, specialist retailers and super-markets and hypermarkets), region (North America, Europe, Asia-Pacific, and Rest of the World) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Wine Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024.
The report defines the global Wine Market as the alcoholic beverage made from the fruits especially graphs by the fermentation process. This fragmentation process is done without adding additional sugar, water or other nutrients. The test of wine depends on the factors such as grapes variety, fragmentation time, fragmentation container (could be wood or steel). It is also affected by some geographical factors including soil type, weather condition, farming techniques.
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The wine has antioxidants that repair the damage of body caused by the free radicals and helps to boost the immune system. It all reduces the risk of Type 2 Diabetes, cholesterol, heart disease, and strokes. Thus, the health benefits offered by the wine increases its popularity among consumer that drives the growth of the wine market. Wine drinkers have a lower mortality rate than other low alcoholic beverages drinkers such as beer or spirits. Wine is sometimes applied directly to the skin to improve wound healing as well as wine also helps to improve the digestion system.
Rising demand for low alcoholic beverages is the key factor that drives the growth of the wine market. Wine contains around 11% of alcohol. Excessive consumption of alcoholic beverages linked with a number of liver diseases, negative impact on aging as well as violence, crimes, and accidents. The consumption of low alcoholic beverages has short term advantages such as better night sleep and feel fresh in the morning over-consumption of alcoholic drinks. The low alcoholic drinks provide high quality with lower alcohol which reduced the long-term effect of high consumption of alcohol.
Market Segmentation by Type
The demand for wine is on the rise in the world market, especially for the different types of wines such as Fortified Wine, Sparkling Wine and Still Wine. Fortified Wine is a type of wine in which a distilled spirit, usually brandy is added. This wine is also known as a dessert wine. Fortified Wine has higher alcohol content than other wines. The sparkling wine has significant levels of carbon dioxide in it that makes it fizzy and bubbly. In European countries, this wine commonly known as champagne. This term legally reserved for products exclusively produced in the Champagne region of France. Furthermore, the rising consumption of sparkling wine among female's consumers is likely to boost the wine market worldwide.
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Among the region, Europe holds the maximum market share in the global wine market, and it is expected to be the dominating market over the forecast period. According to the International Organization of Vine and Wine (OIV), France is the biggest wine producer country followed by Italy. North America is the second largest region in the beer market. The U.S is the largest consumers of wine in the global as well as North America markets. Asia-Pacific region is expected to grow at the highest CAGR over the period of 2018 to 2024. Growing Preference for wine for gifting purpose rising the demand for wine from this region contributes to the growth of the wine market.
Growing preference of low alcoholic beverage consumption owing to the health concern among the population has forced the companies to innovate wine product to raise the demand among the consumers. Moreover, several producers are offering new products with enhanced flavors to grab the consumer's attention and work closely to understand their preferences and tastes. Furthermore, the key player Accolade Wines is focusing on creating new test profiles to excite consumers such as their latest products Rose and Batch X to fuel the demand for wine. The report provides profiles of the companies in the global wine market such as Accolade Wines, Constellation Brands, E. & J. Gallo Winery, Concha y Toro, Bacardi Limited, Caviro, Pernod Ricard, Treasury Wine Estates, Grupo Penaflor and The Wine Group.
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