The global wine market is anticipated to be worth US$ 513.8 billion in 2022 and US$ 846.3 billion by 2032. Between 2022 and 2032, the overall sales of wine are anticipated to soar at a CAGR of 5.1%. According to estimates, the wine market makes up between 2% and 4% of the overall alcohol beverage market.
Throughout the anticipated term, sales of organic wine are anticipated to continue strong. Growing interest in organic products as a result of rising health consciousness is also helping the market expand. Therefore, it is anticipated that the demand for organic wine from restaurants and retail would grow rapidly over the forecast period.
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According to Future Market Insights, the consumption of organic wine is fast rising, particularly in Germany and France. Additionally, the development of sustainable winemaking techniques has boosted sales.
“Improving lifestyle, increasing penetration of online sales channel and the internet, and growing consumption of red wine for recreational purposes are some of the factors driving the sales of wine across the globe,” says an FMI analyst.
Who is winning?
Leading manufacturers of Wine are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of wine globally. Major players present in the wine market are The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Asahi Group Holdings, Ltd., Beijing Yanjing Beer Group Corporation, Castel Frères, Accolade Wines, Constellation Brands, Treasury Wine Estates (TWE), Pernod Ricard, and E. J. Gallo Winery among others.
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