Wine Market is Anticipated to be Worth US$ 513.8 Bn in 2022 | FMI

The global  wine market is anticipated to be worth US$ 513.8 billion in 2022 and US$ 846.3 billion by 2032. Between 2022 and 2032, the overall sales of wine are anticipated to soar at a CAGR of 5.1%. According to estimates, the wine market makes up between 2% and 4% of the overall alcohol & beverage market.

Growth in the market is attributable to increasing consumption of red wine due to its varied health benefits.

The World Health Organization (WHO) reports that cardiovascular disease is the leading cause of death worldwide (CVD). The WHO claims that red wine has many health advantages, including reduced blood sugar levels and weight loss. Consequently, wine is marketed as a healthy beverage.

Throughout the anticipated term, sales of organic wine are anticipated to continue strong. Growing interest in organic products as a result of rising health consciousness is also helping the market expand. Therefore, it is anticipated that the demand for organic wine from restaurants and retail would grow rapidly over the forecast period.

According to Future Market Insights, the consumption of organic wine is fast rising, particularly in Germany and France. Additionally, the development of sustainable winemaking techniques has boosted sales.

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Key Takeaways from the Wine Market Study

  • The U.S. held more than 67.6% of market share in North America in 2021 owing to the upsurge in the number of bars and restaurants in recent years.
  • Italy wine market is expected to exhibit growth at a CAGR of 4.3% for due to the easy availability of grapes for wine production.
  • In terms of type, the sparkling wine segment will dominate the market, registering growth at 8.5% CAGR between 2022 and 2032.
  • In terms of price range, US$ 10- US$ 15 held over 39.1% of market share in the global wine market

“Improving lifestyle, increasing penetration of online sales channel and the internet, and growing consumption of red wine for recreational purposes are some of the factors driving the sales of wine across the globe,” says an FMI analyst.

Who is winning?

Leading manufacturers of Wine are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of wine globally. Major players present in the wine market are The Wine Group, John Distilleries, International Beverage Holdings, Halewood Wines International, Sula Vineyards Pvt. Ltd., Asahi Group Holdings, Ltd., Beijing Yanjing Beer Group Corporation, Castel Frères, Accolade Wines, Constellation Brands, Treasury Wine Estates (TWE), Pernod Ricard, and E. & J. Gallo Winery among others.

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Global Wine Market By Category

By Type:

  • Sparkling Wine
  • Dessert Wine
  • Red Wine
  • White Wine

By Price Range:

  • Below US$ 5
  • US$ 5-10
  • US$ 10-15
  • Above US$ 15

By Source:

  • Organic Wine
  • Conventional Wine

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Ocea
  • MEA