Wine Market

Wine Market - Insights, Size, Share, Opportunity Analysis,
and Industry Forecast till 2025
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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Still wine segment held the majority of market share with around 83% among
product types in 2016, while red wine was the preferred option among all
customer groups. Changing taste and new preferences among consumers and
rising demand for new and exotic flavors such as Riesling wine and other
tropical fruit wine is fuelling the growth of the wine market. The market for
sparkling wine segment is expected to grow at a CAGR of 4.94% during the
forecast period owing to increasing consumption of champagne during social
celebrations.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm
offering action-ready syndicated research reports, custom market analysis,
consulting services, and competitive analysis through various recommendations
related to emerging market trends, technologies, and potential absolute dollar
opportunity.
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Wine Market Report categorizes the global market by Product Type, by Color Type (Red Wine, White Wine, Rose Wine), and By Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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