Press Release

Wine Market Size: How will COVID-19 Affects Food & Beverages Industry?

The global wine market size is anticipated to reach USD 444.93 billion by 2027 on account of the increasing adoption of a lavish and wealthy lifestyle. Wine is an alcoholic drink made of fermented grape juice. The yeast helps to consume the sugar present in the grapes and changes it to carbon dioxide, ethanol, and heat. The variety of strains of yeasts and grapes produces different types of wine. Wine has been consumed by people for thousands of years and also has religious importance. Wine also has health benefits when consumed in limits. A recent report by Fortune Business Insights provides an elaborate overview of the market and its prime strategies. As per this report titled, Wine Market Size, Share & Industry Analysis, By Type (Sparkling Wine, Still Wine, and Others), Flavour (Red Wine, White Wine, and Rose Wine), Distribution Channel (On-trade and Off-trade), and Regional Forecast, 2020 – 2027,” the market value was USD 364.25 billion in 2019 and is likely to exhibit a CAGR of 6.06% between 2020 and 2027.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this, too, shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/wine-market-102836 

List of Wine Market Manufacturers include: 

  • John Distilleries (India)
  • Distell Group Limited (South Africa)
  • Sula Vineyards Pvt. Ltd. (India)
  • E & J Gallo Winery (U.S.)
  • Treasury Wine estates (Australia)
  • The Wine Group (U.S.)
  • International Beverage Holdings (Thailand)
  • Halewood Wines International (U.K.)
  • Accolade Wines, Plc. (U.S.)
  • Global Drinks Finland (Finland)
  • Torres Wines (Spain)
  • Other Players

 

 

What are the Highlights of the Report?

The report provides a 360-degree overview of the market and various factors driving, restraining, challenging, and creating opportunities for the market. It also discusses the table of segmentation based on factors such as type, flavor, distribution channel, and geography, and lists the names of leading factors.  Furthermore, the report highlights current trends prevalent in the market, significant industry developments, and other interesting insights into the market. To purchase this report, refer to the company website.

Market Drivers

Rising Adoption of Wine as a Sign of Social Status will Propel Growth

The rising adoption of alcohol as a social drink is a major wine market driver. This, coupled with modernization, westernization, and promotion of alcohol consumption socially will also add impetus to the market in the coming years. Wine and alcohol consumption has now become a social status and this supports the growth of alcoholic beverages worldwide. Wine has refreshing appeals and has health benefits such as blood pressure control, type 2 diabetes, vision loss, gut health, dementia, and also helps to cleanse and provide glow to the skin when consumed in a limit. These advantages also help to augment the growth of the market in the coming years.

However, the gradual shift of non-alcoholic beverages and other alcoholic drinks may hamper the market for wine in the coming years. Nevertheless, the emergence of e-commerce platforms is likely to create lucrative growth opportunities for the market in the forthcoming years.

Gain More Insights into the Wine Market Research Report 

https://www.fortunebusinessinsights.com/wine-market-102836 

Regional Segmentation

Market in Asia Pacific to Register Considerable CAGR Owing to Increasing Adoption of Westernized Trends

Geographically, North America earned the largest wine market share owing to the presence of lead importing companies in the region. Together with Europe, This region imports an average of 5 million liters annually to maintain the supply and demand chain in the respective regions. Europe also holds a significant share in the beer market as well, owing to the customs and cultural occasions that include the consumption of wine as a celebrating drink. In addition to this, France remains a major contributor of wine to the world but has witnessed a decline in the past few years due to emerging competitors worldwide. Moreover, the increasing number of young working-class population is also expected to help this region attract high revenue in the coming years.

On the other side, Asia Pacific market will rise at a robust pace during the forecast period on account of the increasing adoption of westernized trends and the adoption of international cuisines among consumers. Besides this, the HoReCa Sector (Hotel/Restaurant/Catering) Sector also included wine serving as a new trend and this is further anticipated to aid in the expansion of the market in the region. On the other side, the Middle East and Africa and South America markets may witness stable growth owing to the lack of awareness and the penetration of sub-optimal products. 

Competitive Landscape

Players to Focus on the Launch of Innovative Wine 

The nature of the wine market is moderately organized owing to the presence of major manufacturers. Players are engaged in the manufacturing of various and flavored ABV wine to stay put in the competition. They are launching different flavors in their wine to gain momentum in the market. Some of the major players of this market include Halewood Wines, Distell Group, International Beverage Holdings, John Distilleries, and The Wine Group. The rise in efforts and capitalization by players to launch innovative products is likely to help attract high revenue to the market in the coming years.

Order A Complete Research Report On Wine Market Report 

https://www.fortunebusinessinsights.com/checkout-page/102836

Have a Look at Related Reports:

2020 Update: Processed Meat Market Size and Share Forecast 2026

Fats & Oils Market Size 2020 to 2026 | This Study Will Perfect your Business, Read Or Miss Out!

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Saul Burrell

Saul is heading the Cleaning Products and Office Supplies column and is doing his work correctly since the time of his joining. He has done his master’s degree in chemistry and also a very aspiring writer. His articles mainly focus on eco-friendly cleaning products and office supplies. He knows a lot about the sustainability of the ecosystem. He has been working with us for 4 years now.

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