2024: Miller Family Wine Company (MFWC), owned by one of California’s winegrowing families, announced its new national partnership with Republic National Distributing Company (RNDC).
According to MarkNtel Advisors study, The Global Wine Market size was valued at USD 336.03 billion in 2023 & is projected to reach USD 462.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.64% during the forecast period, i.e., 2024-30.
The available economic pricing of different alcoholic beverages, including liqueurs, spirits, beer, and others has led to a gradual change in consumer preferences. The potential for a market setback looms as there is a noticeable trend of consumers gradually shifting their preferences towards other alcoholic beverages. This diversion in consumer choice poses a significant challenge to the current market leaders and products, signaling a need for industry players to adapt their strategies to retain market share and relevance in the evolving landscape of alcoholic beverage consumption. Thus, market growth will be hindered in the upcoming years due to a shift towards alternative alcoholic beverages.
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Key Findings in Wine Market:
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Historical Years |
2019-2022 |
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Base Years |
2023 |
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Forecast Years |
2024-2030 |
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Key Report Highlights |
· Market Dimensions & Projections
· Pricing Evaluation, · Recent Strategic Moves by Companies, · Primary Stakeholders, · Analysis of Import and Export Trends, · Competitive Landscape Assessment, · Emerging Opportunities, · Market Trends and Indicators |
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Reports Delivery Format
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Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
Wine Market Key Players:
E & J Gallo, Constellation Brands, The Wine Society, Treasury Wine Estates, Vina Concha Y Toro, Castel Freres, Accolade Wines, Pernod Ricard, Grupo Penaflor, Fecovita Co-Op, Scout and Cellar, Miller Family Wine Company, Boisset Collection, Kendall-Jackson Wine, Bacardi Limited (Martini Brand), Others (VineOh, Australian Vintage Ltd., etc.)
Market Segmentation Overview:
By Type
-Still Light Grape Wine
–Still White Wine
–Still Rose Wine
–Still Red Wine
-Sparkling Wine
–Champagne
–Prosecco
–Cava
–Others (Asti Spumante, Crémant, etc.)
-Non-Grape Wine
–Rice Wine
–Plum Wine
–Others (Dandelion wine, etc.)
-Fortified Wine
–Port
–Sherry
–Vermouth
–Others (Madeira, Marsala, etc.)
The Still Light-Grape Wine holds the majority of the market share, owing to its popularity due to its authentic taste & flavor. Considered one of the oldest alcoholic beverages globally, it remains a favored table liquor in European countries while being widely consumed worldwide. The increase in sales of still light-grape wine is primarily driven by shifting consumer preferences towards lighter and more delicate wine styles. As consumers seek wines that align with evolving tastes and preferences for lighter options, the demand for still light-grape wines is expected to continue rising. This trend reflects a broader consumer interest in wines that offer a subtle and more refined drinking experience, leading to a growing market for these specific still wine varieties.
By Distribution Channel
-On-Trade
-Off-Trade
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Wine Industry Recent Development:
2023: The Wine Society launched a fresh assortment of No and Low alcoholic beverages curated to entice wine enthusiasts.
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