LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global wine market to grow at a CAGR of over 2% during the forecast period, according to their latest market research report.
The growing popularity of organic wine is one of the major trends being witnessed in the global wine market 2018-2022. The growing health consciousness among consumers is encouraging them to opt for healthier variants of wine such as organic wines. The growing popularity of organic, biodynamic, and natural wines can be gauged from the fact that 30% of the wine lists provided by vendors include these variants. Over the years, organic wine has become popular due to factors such as the growing support for environmental conservation, sustainable agriculture, and preference for chemical-free foods. Thus, increasing demand for organic and natural wines from major wine markets is contributing to the growth of organic viniculture, which is boosting the growth of the global wine market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global wine market is the growing adoption of premiumization strategies to drive profitability:
Global wine market: Growing adoption of premiumization strategies to drive profitability
The premiumization of wines has emerged as a key buying criterion in the global wine market. Also, the growing demand for superior value and characteristics in wines has encouraged vendors to adopt the strategy of premiumization. The increasing disposable income and aspirational mindset of the middle class is propelling the concept of premiumization among consumers driving the global wine market. Also, growing awareness and knowledge of consumers about different wine varieties is fueling the shift toward more expensive wines. Therefore, the overall global wine market has seen increasing sales and growth from the premium segments in recent years.
According to a senior analyst at Technavio for research on alcoholic beverages, “Apart from factors such as premiumization strategies, other influences like rising consumption of craft and artisan wines and increasing use of digital channels for sale, is boosting the growth of the global wine market.”
Global wine market: Segmentation analysis
The global wine market research report provides market segmentation by product (still wine and sparkling wine), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for close to 56% share, followed by APAC and the Americas respectively. During the forecast period, APAC is expected to register a higher incremental growth rate than the Americas.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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