According to the report, global wine market was valued at approximately USD 302.02 billion in 2017 and is expected to generate revenue of around USD, 423.59 billion by the end of 2023, growing at a CAGR of around 5.8% between 2017 and 2023.
New York, NY, May 17, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Wine Market by Colour (Red Wine, Rose Wine, White Wine and Others), By Product Type and By Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023”. According to the report, global wine market was valued at approximately USD 302.02 billion in 2017 and is expected to generate revenue of around USD, 423.59 billion by the end of 2023, growing at a CAGR of around 5.8% between 2017 and 2023.
Wine is an alcoholic beverage in which alcohol is generated by the natural process of fermentation. The fermentation process is primarily carried out by the bacteria which are present on the skin of grapes. Further, a particular strain of yeast is added to the primary fermented product so as to obtain the desired wine. In wine, the bacteria or yeast converts the sugar, which is present in grapes, to ethanol and carbon dioxide. According to the sugar fermented, the taste of wines differs. For instance, if there is a high amount of sugar in wine it is a dessert wine. There are six basic processes involved in the production of wine, namely destemming and crushing, alcoholic fermentation, drawing the wine off the lees, malolactic fermentation, stabilization and ageing and refinement in bottle. The quality of wine increases with the time of ageing.
Browse through 54 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Wine Market by Colour (Red Wine, Rose Wine, White Wine and Others), By Product Type and By Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023”.
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The wine market is segmented on the basis of colour into red wine, rose wine, white wine and others. The red wine segment is expected to dominate the global wine market. Based on product type, the market is divided into still wines, sparkling wines, dessert wines and fortified wines. The still wines segment is anticipated to dominate the market but sparkling wines segment is expected to grow fast due to its increasing demand as a celebration wine. On the basis of the distribution channel, the market is divided into supermarket and hypermarket, specialty stores, convenience stores, online channel, and others. Supermarket and hypermarket segment is expected to dominate the global wine market in the forecast period.
North America is expected to dominate the global wine market. This is due to the recent changes in lifestyle and increasing consumption of liquor products which drives the growth of North America wine market. The U.S. is expected to dominate the wine market in North America due to the increasing grape cultivation and application of modernized technologies to produce wine.
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Europe is the second largest regional market and is expected to show significant growth in the years to come due to the presence of a large number of producers, and wineries in this region.
The Asia Pacific is expected to witness rapid growth during the forecast years. This is due to increase in the number of companies that produce wine in the region of China, India, and Japan. The increase in demand for premium wines and growing westernization also act as factors that drive the growth of the wine market in this region.
Browse the full “Wine Market by Colour (Red Wine, Rose Wine, White Wine and Others), By Product Type and By Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023” report at https://www.zionmarketresearch.com/report/wine-market
The Middle East and Africa and Latin America are expected to witness the least growth in comparison to other regions. The anticipated economic improvement in these regions is expected to fuel the growth of the wine market in the future.
Some of the key players in the global wine market include Constellations Brand, E & J Gallo Winery, Torres, Treasury Wine Estates, Vina Conch y Toro, Distell Group, Global Drinks Finland, International Beverage Holdings, John Distilleries, Soyuz Victan and SPI Group, Accolade Wines, and The Wine Group. Major players are frequently engaged in developing different wines so that they can provide a new quality of a wine.
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This report segments the global wine market as follows:
Global Wine Market: Colour Segment Analysis
- Red Wine
- Rose Wine
- White Wine
Global Wine Market: Product Type Segment Analysis
- Still Wine
- Sparkling Wine
- Dessert Wine
- Fortified Wine
Global Wine Market: Distribution Channel Segment Analysis
- Supermarket and Hypermarket
- Specialty Stores
- Convenience Stores
- Online Channels
Global Wine Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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