DUBLIN--(BUSINESS WIRE)--The "U.S. Wine Market Size, Share & Trends Analysis Report by Product (Table Wine, Dessert Wine, Sparkling Wine), by Distribution Channel (On-trade, Off-trade), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. wine market size is expected to reach USD 115.03 billion by 2030
It is expected to expand at a CAGR of 6.8% from 2022 to 2030. The rising worldwide supply of grapes, increasing consolidation among producers, distributors, and retailers, and a shift in consumers' drinking patterns are acting as major drivers for the market. Increasing penetration and adoption of the product in developing countries are also acting as a major catalyst for market growth.
The U.S. has been producing wines for centuries, and wine products have become a popular dinner addition in the country. Wine sales have surged across the country as a result of fresh innovation in flavor, color, and packaging adaptations. Nonetheless, to meet the high demand, a significant amount of land has been transformed into vineyards to meet the need for grapes that would be prohibitively expensive if acquired from outside the U.S.
The table wine product segment held the largest revenue share in 2021. The availability of table wines through various off-trade routes and their preferability among the vast population as an economical option for regular consumption is fueling the segment growth. Being inexpensive and easily accessible through retail, table wines often find preference among new consumers of wine.
With the changing lifestyles, there has been a shift in alcohol consumption-from hard liquor to mild alcoholic beverages such as beer, wine, and seltzers. This trend is a key factor boosting the growth of new wine consumers and consequently plays a role in the rising demand for table wine.
The on-trade distribution channel segment is expected to register the fastest CAGR from 2022 to 2030. The COVID-19 pandemic drastically affected the growth of this segment owing to the lockdown restrictions and shutting down of pubs, clubs, bars, etc.
Further, international tourism also came to a standstill caused by the strict lockdown measures across the world, which resulted in decreased wine consumption through the on-trade channel. The U.S. market for wines is fragmented with the presence of international players and a few regional players.
U.S. Wine Market Report Highlights
- The table wine product segment dominated the market in 2021. The high penetration of this segment is due to the lower prices of table wines as compared to other wines.
- The sparkling wine product segment is projected to register the fastest CAGR of 7.7% from 2022 to 2030. The largest consumers of sparkling wine produce a majority of wine domestically, leaving the U.S. as one of the most important import markets.
- The off-trade distribution channel segment held the largest revenue share of over 80.0% in 2021. Offering a variety of products at lower prices as compared to on-trade channels has increased the popularity of retail counters across the U.S..
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution channel Outlook
Chapter 3. U.S. Wine Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on the U.S. Wine Market
3.4. Industry Value Chain Analysis
3.4.1. Sales/Retail Channel Analysis
3.4.2. Profit Margin Analysis
3.5. Market Dynamics
3.5.1. Driver Impact Analysis
3.5.2. Restraint Impact Analysis
3.5.3. Industry Challenges
3.5.4. Industry opportunities
3.6. Business Environment Analysis
3.6.1. Industry Analysis-Porter's Five Forces
3.7. Roadmap of the U.S. Wine Market
3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. U.S. Wine Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2030
5.2. Table Wine
5.2.1. Table wine market estimates and forecast, 2017-2030 (USD Million)
5.3. Dessert Wine
5.4. Sparkling Wine
Chapter 6. U.S. Wine Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution channel Movement Analysis & Market Share, 2021 & 2030
Chapter 7. Competitive Analysis
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2021
Chapter 8. Company Profiles
- E. & J. Gallo Winery
- Pernod Ricard
- Deutsch Family Wine & Spirits
- Trinchero Family Estates
- Constellation Brands, Inc.
- Accolade Wine
- Castel Freres
- the Wine Group
- Bronco Wine Company
- Casella Family Brands
For more information about this report visit https://www.researchandmarkets.com/r/kaxiv5