Increasing population of alcohol consumers’ majorly belonging to age group of 19-25 is one of the major drivers influencing the sale of wine based on the unique formulation. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Wine Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.
Developing economy and increasing disposable income have a major impact on the wine market. Increased demand for premium alcohol is also driving the market for wine. Availability of various product types in wine supports the growth of wine market. Furthermore, high focus on research and development has led to innovations in wine varieties by experimenting with unique flavors, which has also fueled up the wine share in the global wine market. Innovation in fermentation process and inclusion of various ingredients for wine production has resulted in launch of various wine products. This has encouraged higher sales of wine globally.
Latest Industry Updates
Sep 2017 Minibar Delivery, a premier on-demand alcohol delivery service, has announced its new launch Vineyard Select, a nationwide direct-to-consumer wine shipping service that connects customers across the country with independent vineyards for delivery straight to their door.
Mar 2017 HSN and Time Inc. has went under partnership to launch exclusive new food & wine product line. This partnership will help in strengthening company’s business segment and will allow the company to come up with new products in upcoming years.
Sep 2016 Treasury Wine Estates has added three-strong wine range for the US, called Blass. The brand has been created by Treasury's Wolf Blass division in the Barossa valley region of Australia that comprises three varietals - a Chardonnay, a Cabernet Sauvignon and a red blend.
Jan 2016 Glazer's, Inc. has merged with Southern Wine & Spirits. This merger will help in improving the company’s business segment and also malt beverage business.
Complete Report Details @ https://www.marketresearchfuture.com/reports/wine-market-1655
Global Wine Market – Segments
The global wine market has been divided into source, type, distribution channel, and region.
On the Basis of Source: Grapes, Apple, and other Fruits
On the Basis of Type: Red, White, and others
On the Basis of Distribution Channel: Food Service and Food Retail
On the Basis of Region: North America, Europe, Asia Pacific, and ROW
Global Wine Market - Regional Analysis
The global wine market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among the entire region, Europe is estimated to account for the major market proportion in the year of 2017. The region is estimated to retain its dominance throughout the forecast period of 2017-2023. U.K and Germany are the major consuming countries of wine in Europe. Presence of key manufacturers in the European countries is considered to be one of the significant reasons for the rising growth of wine. Also, key manufacturers are focusing in the new product development which in turn escalates the sales of wine in Europe. However, Asia Pacific region is expected to expand at a high growth rate during the forecast period of 2017-2023. China and India are collectively accounting for the 50% of the overall Asia Pacific market. The growth of the Asia Pacific region is anticipated to be driven by the increasing youth population coupled with the increasing disposable income of the consumers.