Wines: Key market research findings
- New packaging techniques for better portability
- Growing EU dominance in bulk wine imports
Technavio has released a new market research report on the wine market in Europe, which is expected to decline at a CAGR of around 0.62% between 2015 and 2019. The falling production of grapes in Europe is the primary driver for the decline of the wine market. Adverse weather conditions in the region are affecting the production of grapes, which is the major component of wines.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Vendors are focusing on new packaging mediums and formats, owing to growing concerns about wine portability and handling. Consumers are uncomfortable while carrying bottles in traveling, leading to a risk of breakage or spillage. Manufacturers have introduced new wine packaging techniques like cans, plastic, and plastic-lined cardboard. For instance, Winestar Corbières 2011 comes in an aluminum can and has an acidity level that preserves its aroma and sparkles,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
The EU is the dominant importer of bulk wine, with imports nearly tripling from 330 million liters to 930 million liters over the past decade. Changes in tastes and preferences, demographics, spending habits, and purchasing patterns are propelling the demand. Young consumers prefer inexpensive and imported bulk wines, which are now available in supermarkets and local retail outlets and are generally consumed at home. The shift to in-home consumption has resulted in increased sales of bulk wine that retailers have repackaged with their own labels.
The leading vendors in the wine market in Europe include Caviro, Cantine Riunite & CIV, Garcia Carrion, Accolade Wines, Castle Group and Italiano Vini. This is fragmented due to the presence of numerous producers, wineries and distributors of wine. The providers in the market compete on the basis of several factors such as price, quality, innovation, service, reputation, distribution, and promotion.
A more detailed analysis is available in the Technavio report, Wine Market in Europe 2015-2019.
We can customize reports by other regions and specific segments upon request.
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