Technavio, a tech-focused market research firm, has published a new report on the global wine market, which is expected to reach a global consumption of more than 30 billion liters by the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global wine market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global wine market into the following key regions: The Americas, APAC, and EMEA. APAC, Europe, North America, and ROW.
Geographical segmentation of the global wine market for 2015 (market share %)
|
EMEA |
66.00% |
|
Americas |
21.30% |
|
APAC |
12.80% |
Source: Technavio
EMEA: Largest revenue generating region for wine
The market in EMEA accounted for the largest share of the revenue generated from the supply of wine globally in 2020. The market in this region is expected to showcase steady growth during the forecast period owing to the high demand for wine from the European countries. The aging population in most European countries is opening a niche market for the wine manufacturers, which emphasizes on the sale of premium wines. Vendors in the market are tapping into this segment by releasing wine in smaller packages or in packages that preserve wine better and longer. Currently, sparkling wine is gaining momentum in European countries and rose wine has lost its popularity.
According to Vijay Sarathi, a lead analyst at Technavio, specializing in research on alcoholic beverages, “Wine-based tourism is becoming increasingly popular across the globe. Wine tourism is essentially visitation to vineyards, wineries, wine festivals, and wine shows for which grape wine tasting or experiencing the attributes of a grape wine region are the prime motivating factors for visitors. Major wine-producing countries such as Italy and France promote wine tourism, and it is a major contributor to the GDP of the countries.”
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Wine market in the Americas
The growth of the wine market in the Americas is fueled by the increase in number of wineries, wine production, and wine consumption among the consumers. The number of wineries in the US increased from around 9,650 in 2013 to over 10,400 during 2014. The total wine consumption also increased from 886 million gallons in 2014 to 913 million gallons in 2015. In 2015, the Americas accounted for over 21% of the overall market revenue from the global wine market. The majority share of the revenue from the wine market in the Americas is generated through the sales of still wine.
Wine market in APAC
The growth of the wine market in APAC is attributable to the increased consumption of wine in countries such as China, Australia, Japan, and New Zealand. Furthermore, the wine consumption in China is driven by the millennial population, who are influenced by the Western culture. Most countries in APAC have climates that are not suitable for viticulture and so have not developed the kind of pervasive wine culture which is more common in Mediterranean countries. Religious prohibitions are also factors hindering wine consumption in some APAC countries. Majority of the revenue from the wine market is APAC is generated through the sales of wine via supermarkets and hypermarkets.
However, increasing wine export from countries such as India is expected to help the market grow during the forecast period. In 2014, Indian export of wine products reached almost $7 million from $5 million in 2013. Major wine-producing states in India are Maharashtra and Karnataka. Wine production in Karnataka is expected to increase to about 5 million liters during the forecast period.
The top leading vendors operating in the global wine market are:
- Accolade Wines
- Constellation Brands
- E. & J. Gallo Winery
- The Wine Group
- Torres
- Treasury Wine Estates
- Viña Concha y Toro
Other prominent vendors in the market include Distell Group, Global Drinks Finland, International Beverage Holdings, John Distilleries, Soyuz-Victan, and SPI Group.
A more detailed analysis is available in the Technavio report tilted, ‘Global Wine Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Alcoholic Drinks Market 2016-2020
- Global Alcohol Ingredients Market 2016-2020
- Global Alcoholic Beverage Packaging Market 2016-2020
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