Wine Market - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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Wine Market - Global Industry Insight, Trends,
Outlook, and Opportunity Analysis 2017-2025

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REPORT DESCRIPTION
Wine Market Overview
The global wine market was valued at US 296.03
billion in 2016 and is slated to reach US 404.64
billion by 2025. The market is expected to
exhibit a CAGR of 3.23 during the forecast
period (2017-2025). Growing population of women
alcohol consumers, expansion of bars and
restaurants, exploring different forms of
entertainment such as night parties, growing
demand from emerging economies and preference for
low calorie alcoholic beverages stands to be some
of the key driving factors of the wine market.
For instance, in India, the number of pubs and
bars grew by over 23 during 2014-2016, compared
to cafes during the same time period. The health
benefits associated with wine such as lower risk
of heart disease, reduce risk of type 2 diabetes
and cataracts is also playing a key role in
driving the market for wine. Additionally, with
the increasing number of millennials shifting
from beer and spirit based drinks to wine, the
market for wine is expected to witness a positive
growth trend during the forecast period.
Additionally, the ongoing increase in the
consumption of alcohol among females is further
driving the sales of red and white wine, thereby
helping the market for wine. According to a study
conducted by Coherent Market Insights, it is
estimated that over 55 of the women prefer wine
compared to around 39 for beer in the US.
However, the high price of wine compared to other
alcohol based drinks such as beer is one of the
major hindrance to the growth of the market.
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REPORT DESCRIPTION
In terms of product, still wine continue to hold
majority of the market with around 83 of the
market in 2016 where red wine continues to be the
preferred option among all customer groups.
Others such as sparkling wine and fortified wine
are also witnessing growth in demand as customers
seek for alternatives. The market for sparkling
wine is expected to grow at a CAGR of 4.94
during the forecast period owing to the
increasing consumption of champagne during social
celebrations. The changing taste and preference
among consumers and the demand for new and exotic
flavors such as Reisling wine made of white
grapes and other tropical fruit wine is fuelling
the growth of the wine market. In terms of
geography, Europe stands to be the largest market
while APAC is expected to witness the fastest
growth in wine market till 2022. Europe
contributed over 63 of the market in 2016 with
countries such as France, Spain, Italy and
Germany being the key markets in the region.
Additionally, Italy, Spain and France also
contributed over half of the wine production at a
global level due to its vast vineyard
area. Request sample Copy of this
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REPORT DESCRIPTION
North America stands as the second largest market
for wine with US being the largest player in the
region. At a global level, US contributed about
12 of the global market and also being the
largest market globally. The country has over
9000 wineries with California contributing around
90 of the wine production in the country.
Despite the ageing baby boomers being majority of
the consumers of premium wines in the country,
growing interest amongst the millennials are
bringing a shift in the target customer group
which will play a significant role in boosting
the growth of the wine market in the country. It
is found that millennials consumed over 43 of
all wine consumed in 2015 than any other
generation as they continue to shift from beer to
wine. Asia Pacific is projected to witness the
fastest growth in the wine market with countries
such as China, India being the key contributors
in the region. At a global level, China stands to
be the largest market for alcohol consumption
with the country also being one of the leading
importers of wine worldwide. The ongoing recovery
of the Chinese economy, growing upper middle
class population and the rising disposable income
is further expected to boost the consumption of
wine in the country. The country is also focused
towards manufacturing its domestic wine, further
promoting the growth of wine in the country.
Zhejiang Guyue Longshan Shaoxing Wine Company
remained the market leader and witnessed volume
sales increase by over 5 in 2016. Request For
Customization _at_ https//www.coherentmarketinsights
.com/insight/request-customization/940
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