Global Wine Market – Insights

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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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. Additionally, with the Chinese government promoting Hong Kong as a wine trading hub and the rise in events such as Hong Kong International Wine and Spirits Fair, ProWine China will further promote the growth and awareness of wine in the country.





Latin America stands to be another important region which is showcasing a strong preference for wine. Mexico which stands to be an important market in the region has witnessed a significant increase in the volume sales increasing by over 8.5% in 2016. Additionally, with different varieties of wine being easily available across different retail outlets will further boost the market in the coming years.

Europe dominated the global wine market in 2016 and is expected to retain market dominance throughout the forecast period, with major contribution coming from the emerging economies of India and China.

Major Players in the Global Wine Market:

Global wine market is highly fragmented, with the presence of many large and smaller players in the market. Key players operating in the wine market include E. & J. Gallo Winery, Concha y Toro, The Wine Group, Bacardi Limited, Constellation Brands, Pernod Ricard, Treasury Wine Estates, Caviro, Grupo Penaflor.

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