In a recent published report, Kenneth Research has updated the market report for Wine Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wine Market products.
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The wine market is estimated to represent a global market of USD 291.8 billion by 2017 with growth rate of 6.2%.
The wine industry consists of the market estimation for the retail sale of sparkling wine, fortified wine and still wine products. The main inputs for producing these beverages are wine grapes, fermentation equipment, and bottling supplies The market is estimated based on the retail selling price (RSP) of these beverages.
The wine industry experience strong growth over the study period owing to the rising per capita consumption of this beverages in developing as well as the developed region. Highest consumption is noticed in those countries where drinking alcohol has been part of the culture, and often where the wine industry is well-developed. Healthy growth in the Asia-Pacific countries, particularly in India, China South Korea & Singapore largely supported the overall product demand. However, government regulations for beverages production are stringent in many countries. State control of alcohol retail may be very, or include restrictions on times and locations where it can be sold; in some countries which is expected to hamper the industry growth to some extent.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
In terms of product types, the market is divided into Sparkling Wine, Still Wine, Fortified Wine and others. Still, wine accounted for the highest share of the global market, captured more than 80% share throughout the review period. Whereas, fortified wines have captured less than 3% revenue share. Distribution channel segment is categorized as hypermarket, food and drink stores, and others.
Regionally, the industry is segmented as Europe, North America, Asia Pacific, and Rest of the World. Developed regions such as North America and Europe accounted for the highest share of the overall industry. Collectively, these regions have captured more than 70% revenue share.
Key Vendor Takeaway
The industry is characterized by the presence of local as well as international key players. It demonstrates a highly fragmented structure due to the presence of numerous participants. Yantai Changyu Pioneer Wine, E & J Gallo Winery, Constellation Brands, and Treasury Wine Estates are some of the prominent players profiled. These players capture less than 10% of market share, whereas, other key players considered to capture a large chunk of revenue share.
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The competition among key players is assessed to be moderate as this beverage is vulnerable to the threat from its substitutes, such as beer and spirits, owing to the low switching costs and variety of consumption patterns in different regions. The ease of market penetration for new players is strongly affected by the interference of government and strict regulation policies of wine and other alcoholic beverages industry.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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