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Wine is a kind of alcoholic beverage which is made from grapes. Yeast takes the sugar in the grapes and converts it to ethanol and carbon dioxide. Different varieties of grapes and strains of yeasts produce different styles of wine. These variations which are a result of the complex interactions between the biochemical developments of the grape, the reactions involved in fermentation, the terroir and the production process. Many countries enact legal appellations intended to define styles and qualities of wine. These typically restrict the geographical origin and permitted varieties of grapes, as well as other aspects of wine production. Wines which are not made from grapes include rice wine and fruit wines such as plum, cherry, pomegranate, and elderberry.
Wine Market Segments Size & Growth:
The global wine market is accounted as USD 293.56 billion in 2017 and expected to grow at a CAGR of 5.95% to reach 405.23 billion by 2024 during the forecast period 2018-2024. Growing consumption of wine in developing countries has fueled the market growth. Growing urbanization, population, increase in standard of living has increased the growth of the market. Changing lifestyle and consumption habits of wine is a major driver for this market. As per capita income has been increased, the standard of living also improved, so this is one of the major drivers for the market. One of the major restraints for wine market is the high taxation in the wine business among trade. It is highly taxable, which in turn hindering the market growth. Another challenge for this market is that there are different substitutes available for the market, at a low price, which will reduce the market growth.
The main opportunity for this market is that the innovation made for the
Wine Market Share:
Regarding geography, the market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South America. , The European Union is a leading market in wine production, consumption, and trading, which accounts for half of the market share. Italy, Spain, and France are the countries which are said to have half of the global wine production. North America is the other major region after Europe where the USA alone accounts for the highest per capita consumption of wine. The country has crossed France as the world’s foremost wine consumer, with average annual consumption of 12 litres per person.
Regarding wine, the colour market is segmented into red wine, rose wine, white wine and others. These colours are having the most of the market share. Regarding product type, the market is segmented into still wine, sparkling wine, dessert wine, fortified wine. Still, wine accounts for the major share in the wine market. Sparkling wine is expected to have a high growth rate in consumption. Regarding body type, the market is again segmented into light-bodied, medium-bodied, and full-bodied. Regarding consumption red wine accounted for more than 58% market share in the year 2016, white wine 38% and rose wine consumption was only 11%. Regarding distribution channel market is segmented into supermarket/hypermarket, speciality stores, online channel, and others.
Wine Market Trends:
Wine Market Research Report:
Along with these companies, there were many other companies considered/cited in the report while analysing wine market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
Starting from $2700
Starting from $2700
Starting from $2700
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