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Wine Market to Register Decent CAGR of 4.30% from 2021-2028; Familia Torres Discovers Newest Vintage Antologia Miguel Torres Wine Selection to Augment Growth

January 13, 2022 | Food & Beverages

The global wine market size was USD 339.53 billion in 2020. The market is projected to grow from USD 340.23 billion in 2021 to USD 456.76 billion in 2028 at a CAGR of 4.30% in the 2021-2028 period.


This information is provided by Fortune Business Insights, in its report, titled, “Wine Market Size, Share & COVID-19 Impact Analysis, By Type (Sparkling Wine, Still Wine, and Others), Flavor (Red Wine, White Wine, and Rose Wine), By Distribution Channel (On-trade and Off-trade), and Regional Forecast, 2021-2028.”


COVID-19 Impacts:


Supply Chain Commotions amid COVID-19 to Unfavorably Influence Product Sales


The COVID-19 pandemic has brought about a significant renovation in global markets, predominantly in this market. The wine distribution channels around the globe were interrupted, on account of wide-ranging terminations of several conveniences and constraints in public movement.


The demand and intake of the drink has been held up in most of the markets worldwide. The buying pattern of consumers affected the market the most, as consumers steadily relocated towards obtaining the drink online, on account of the factor of sturdy termination of on-trade channels.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/wine-market-102836


Treasury Wine Estates Engages and Republic National Distributing Company Engage in Joint Venture


Treasury Wine Estates Ltd, which is among the globe’s biggest wine companies, registered on the Australian Securities Exchange, declared that the company has been involved in a long-term circulation contract with Republic National Distributing Company. This deal is set to cover distribution in multiple markets, based in California, along with other states such as Texas, Utah, Oklahoma, Kentucky, Louisiana, Wyoming, Mississippi, and Nebraska. Currently, RNDC allocates the Treasury’s collection in Georgia, Michigan, as well as in New Mexico.


Drivers and Restraints:


Appearance of E-commerce Platforms to Sustain Higher Income Generation


E-commerce has turned into a progressively renowned choice for purchasing liquor from the last few decades and is anticipated to surge efficiently during the forecast period. The consumers are receiving numerous profits such as appropriate shopping experience, timely home delivery, diverse arrangements, and others.


Therefore, producers are concentrating on creating novel e-commerce platforms and engaging into mergers to lengthen their sales in the market. The technological developments and refined distribution networks in e-commerce are further estimated to boost the wine market growth in the upcoming duration.


Competitive Landscape:


Procurements Activated by Paramount Players to Steer Market Growth


The important leaders in the market are ceaselessly cheering for operative strategies to execute in order to encompass their business. One such tactic is to enter into tactical bonds, mergers or even obtain other companies in order to amplify the monetary advantage.


Industry Developments:



  • September 2021: Familia Torres revealed the newest vintage of their Antología Miguel Torres wine selection. The flagship wines represent the winery's guarantee to reformative viticulture and sustainability as a method of combating environment change.


List of Key Players Mentioned in the Report:



  • The Wine Group (U.S.)

  • John Distilleries (India)

  • International Beverage Holdings (Thailand)

  • Distell Group Limited (South Africa)

  • Halewood Wines International (U.K.)

  • Sula Vineyards Pvt. Ltd. (India)

  • Accolade Wines, Plc. (U.S.)

  • E & J Gallo Winery (U.S.)

  • Global Drinks Finland (Finland)

  • Treasury Wine estates (Australia)

  • Torres Wines (Spain)


Further Findings:



  • Europe is expected to hold the largest wine market share, as it offers one of the most attractive product varieties, exemplified by being the major consumer in the world and accounted for USD 204.94 billion in 2020.

  • By type, the market is divided into, Sparkling, Still, and Others. Still wine is emerging with immense potential all across the world, owing to its effervescent properties which makes it unique in its spectrum.


Table of Segmentation:

















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



  2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



By Type



  • Sparkling

  • Still



  • Others



By Flavor



  • Red

  • White

  • Rose



 



By Distribution Channel



  • On-trade

  • Off-trade



 



By Region



  • North America (By Type, Flavor, Distribution Channel, and By Country)

    • U.S.

    • Canada

    • Mexico



  • Europe (By Type, Flavor, Distribution Channel, and By Country)

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

    • Russia

    • Rest of Europe



  • Asia Pacific (By Type, Flavor, Distribution Channel, and By Country)

    • China

    • Japan

    • Australia

    • Rest of Asia Pacific



  • South America (By Type, Flavor, Distribution Channel, and By Country)

    • Brazil

    • Argentina

    • Chile

    • Rest of South America



  • Middle East and Africa (By Type, Flavor, Distribution Channel, and By Country)

    • South Africa

    • Turkey

    • Rest of ME&A




Wine Market
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