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WASHINGTON, May 23, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent research on the global wine market shows that e-commerce platforms are accelerating market expansion. of consumers, the overall global wine market is expected to succeed at $599. 5 billion through 2028.
The global market profit was $417. 9 billion in 2021 and is expected to grow with a compound annual expansion rate (CAGR) of 6. 20%.
In addition, the expansion of wine adoption in teams of all ages is also expected to increase the expansion of the global wine market, says Vantage Market Research, in a report titled “Wine Market Size, Share
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Market dynamics:
Booming e-commerce platforms to enliven the global wine market
Developing e-commerce platforms are expected to fuel the expansion of the wine market in the coming years. E-commerce has been a more popular way to purchase alcohol in recent years, and is expected to continue to grow above projection consistent with the period. Consumers enjoy a variety of benefits, adding convenient grocery shopping with consistent efficiency, on-time home delivery, and various programs. Therefore, in primary markets like UK, US, Italy, Spain and others, the online sales channel plays an important role. According to the Dutch Ministry of Foreign Affairs, online sales in advanced regions such as Europe and North America are expected to increase by around 15% during the year. Additionally, the COVID-19 scenario has favored the e-commerce beverage industry. Furthermore, during the confinement phase, the expansion of this channel reached a maximum consistent with the average volume percentage. As a result, brands are focusing on building new e-commerce platforms and forming partnerships to increase their market share. The progression of electronic commerce deserves to be reinforced in the long term through technical progress and improved distribution networks.
Key and conclusions of the report:
According to the studies of our key informants, the wine market is expected to grow at a CAGR of around 6. 20% during the forecast period.
The wine market was estimated at around USD 417. 9 billion in 2021 and is expected to succeed at USD 599. 5 billion through 2028; based on research number one.
Based on the region, Asia Pacific is expected to dominate the wine market.
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Wine market segmentation:
Product
Wine table
Dessert wine
Sparkling wine
Distribution channel
Out of trade
non-commercial
Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Increasing adoption of product premiumization strategy to increase the growth of the global wine market
The increasing adoption of product premiumization is expected to fuel the expansion of the wine market over the estimated period. It is more likely that the consumption of this drink is now associated with a rich and opulent lifestyle among customers, which will result in an expanding market. Consumers in advanced primary economies are curious and need to purchase a wide variety of high-quality Wine Market products. Manufacturers herald the launch of premium and sensory brands in the marketplaceplaceplaceplace as customers become “wine insidersplaceplaceplace” or experts in taste evaluation. Premiumization is a detail of customer trends that generates long-term gains around the world. Also, with corporations like Sula Vineyards Pvt. Limited. and Ardagh Group S. A. , which recently brought canned goods, millennials and less experienced alcohol customers around the world will have more opportunities to taste and enjoy it for years to come. In addition, canned alcohol is a more available and affordable beverage for other people and is gaining popularity, and is expected to become the next trend in beverage consumption and market.
COVID-19 Impact Assessment:
The COVID-19 outbreak has affected various industries around the world. Governments around the world have implemented strict lockdown measures and social distancing criteria to restrict the immediate spread of the pandemic. Manufacturing plants around the world closed during the early stages of the pandemic. . In addition, the post-pandemic economic crisis may lead to a significant delay in the advertising deployment of the agri-food industry. Small and medium-sized businesses are the backbone of generation providers and have experienced a sharp drop in profits since then. As a result, marketplaceplaceplace participants have faced many demanding situations when supply chain disruptions were observed. However, things will improve in the current part of 2022 as more materials are activated. COVID-19 on marketplaceplaceplaceplace call for is taken into account when estimating existing and projected demand Marketplaceplaceplaceplace and marketplaceplaceplaceplace expansion trends for all regions and countries based on the following knowledge points:
Assessing the influence of the COVID-19 pandemic
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Asia Pacific Quarterly Market Revenue Forecast 2020 and 2021
Key undertaken through companies to fight against COVID-19
Long-term dynamics
Short-term dynamics
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Wine Market Highlights Report:
Market analysis
Premium Previews
Competitive landscape
COVID Impact Assessment
Historical data, estimates and forecasts
Company Profiles
Global and regional dynamics
Regional analyses:
Europe has dominated the global wine market
Europe ruled the global wine market in 2021 and is expected to continue the same trend predicted according to the forecast. This is due to the accumulation in constant wine intake with annual capital in economies such as Portugal, Italy and France in the region. In addition, economies such as Germany and the United Kingdom are the largest importers of Wine Market, which also contributes particularly to the regional expansion of the market. In addition, the increasing adoption of low-alcohol beverages is expected to help market expansion in the region.
List of players in the wine market:
asahi group holdings ltd.
Beijing Yanjing Beer Group Corporation wine group
Castel Brothers
Wines of Honor
Constellation Brands Hacienda Wine Estates (TWE)
Pernod Ricard
Vineyard e.
Concha y Toro Vineyard
Explore the tables and figures of the market knowledge in more than 150 pages and a detailed table of contents in the “Report of studies of size, share and trends of the wine market through the product (table wine, dessert wine, sparkling wine), through the distribution channel (online). site, non-commercial), across the region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Global Industry Assessment (2016 – 2021) and Forecast (2022 – 2028)” See detailed study report here – https://www. vantagemarketplaceplacestudies. com/press-release/wine-marketplaceplace-618994
Recent developments:
October 2021: Wine Water, one of the pioneers in the “best for you” alcoholic beverage category, announced the launch of its new grape variety, Wine Water Sauvignon Blanc. The product is recently found in more than 1,000 stores nationwide.
August 2021: Ackley Beverage Group, a family-owned investment company for the Northwest wine industry, announced that it is expanding its portfolio of wine brands with the launch of Cataclysm, a novelty of Washington state wines.
Answers to key questions in the report:
Which regional market will show the fastest growth?
Who are the five most sensible players in the Wine market?
How will the wine market evolve over the next six years?
What application and product will take the lion’s share of the wine market?
What are the drivers and constraints of the wine market?
What will be the CAGR and duration of the wine market in the forecast period?
This report titled “Wine Market” will cover proprietary data in terms of regional analysis, forecasting, and quantitative knowledge: units, key market trends, and others, as analyzed below:
Parameter
details
Duration of the market by year
2016-2028
Base year
2021
Historical years
2016-2020
Forecast years
2022-2028
Segments covered
• Product • Table wine • Dessert wine • Sparkling wine • Distribution channel • On-trade • Off-trade • Region • North America • Europe • Asia-Pacific • Latin America • Middle East and Africa
Region and counties covered
• North America ° United States ° Canada ° Mexico • Europe ° United Kingdom ° France ° Germany ° Italy ° Spain ° Rest of Europe • Asia-Pacific ° China ° Japan ° India ° South Korea ° Southeast Asia ° Rest of Latin America ° Brazil ° Argentina ° Rest of Latin America • Middle East and Africa ° GCC countries ° South Africa ° Rest of East and Africa
Covered companies
• Asahi Group Holdings Ltd. • Beijing Yanjing Beer Group Corporation The Wine Group• Wines Accolade• Constellation Brands Treasury Wine Estates (TWE)• Pernod Ricard• E.
Report coverage
Market Growth Factors, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Technology Landscape, Patent Analysis, Market Attractiveness Analysis across Segments and North America, Enterprise Market Share Analysis, and COVID-19 Impact Analysis
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