Europe Wine Market Size Insights Forecasts to 2033
- The Market Size is Growing at a CAGR of 4.37% From 2023 to 2033.
- The Europe Wine Market Size is Expected to Hold a Significant Share By 2033.
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The Europe Wine Market Size is Expected to hold a significant share by 2033, at a CAGR of 4.37% during the Forecast period 2023 to 2033.
Wine is an alcoholic beverage created from grapes' fermented juice. Any fruit (apples, cranberries, plums, etc.) can be used to make wine, but if it just reads wine on the label, it's made with grapes. Wine production and consumption have seen substantial growth in recent years, resulting in an expanded consumption pattern. Nowadays, social contacts, modernization, and increased adoption of Western culture are among the variables that encourage alcohol socializing among consumers. Alcohol intake is becoming a social status symbol, which is fueling the market expansion of low-alcoholic beverages. It is rapidly gaining popularity among millennials and young people due to its refreshing appeal and low ABV options. It is commonly connected with many occasions and is offered as a table drink alongside ordinary food in Europe. This increased demand encourages producers to launch and offer novel items into the market, ensuring future market Growth.
This research report categorizes the market for Europe wine market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe wine market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Europe wine market.
E-commerce has become an increasingly popular method of purchasing alcohol in recent years, and it is anticipated to increase much more throughout the projection period. Consumers benefit from a variety of services, including a convenient shopping experience, on-time home delivery, diverse schemes, and more. Thus, the online sales channel plays an important role in major markets such as the United Kingdom, Italy, Spain, and others. According to the Ministry of Foreign Affairs of the Netherlands, online sales in developed regions such as Europe and North America are predicted to expand by about 15% every year. Furthermore, the COVID-19 problem has strengthened e-commerce in the beverage market. According to the Comité Européen des Entreprises Vins (CEEV), during the lockout period, this channel's volume climbed by 180% on average. As a result, manufacturers are focusing on building new e-commerce platforms and forming partnerships to increase their market share. The advances in technology and enhanced distribution networks in e-commerce are projected to boost growth in Europe.
Greater dosages might result in significant issues like vomiting, dizziness, blackouts, and difficulty walking. Long-term consumption of significant amounts of wine can lead to a variety of major health issues, including dependency, liver difficulties, and some cancers. Thus, such factors are hampering the market growth in the forecast period.
- In 2023, the still wine segment accounted for the largest revenue share over the forecast period.
Based on the type, the Europe wine market is segmented into sparkling wine, still wine, and others. Among these, the still wine segment has the largest revenue share over the forecast period. Still wine remains the oldest and most common type of alcohol consumed around Europe. It is one of the most popular and commonly available alcoholic beverages, served as table liquor in European countries. The growing association with this type with various occasions and food servings has made it a versatile drink that may be enjoyed in cocktails or on its own. The combination of authentic taste and premium-sized attraction to consumers has led in increased sales in the Europe market.
- In 2023, the red wine segment accounted for the largest revenue share over the forecast period.
On the basis of flavor, the Europe wine market is segmented into white wine, red wine, and rose wine. Among these, the red wine segment has the largest revenue share over the forecast period. Red wine has been a popular beverage for ages and is still extensively consumed and in style now. Antioxidants are only one of the many health advantages associated with this beverage. Numerous in-vitro research has shown that drinking alcohol in moderation can help consumers live healthier lives. In addition, it appeals to luxury-seeking consumers and is easily available. As a result, it combines superb flavor with health-promoting features, which has helped red wine become a dominant market and is likely to develop much more in the coming years. Sparkling wine is expected to be the fastest-expanding segment during the period of forecasting.
- In 2023, the off-trade segment is expected to hold the largest share of the Europe wine market during the forecast period.
Based on the distribution channel, the Europe wine market is classified into on-trade, and off-trade. Among these, the off-trade segment is expected to hold the largest share of the Europe wine market during the forecast period. An off-trade distribution route represents one of the most effective sales channels for delivering products to the Europe market. Supermarkets, convenience stores, specialty stores, and other businesses make up the off-trade channels. Retail counters have grown in popularity in Europe by offering a wider range of products at lower prices than pubs, bars, and other on-trade outlets. Investors are working heavily on the development of modern trades and convenient retail sites to provide easy shopping at affordable rates in the Europe market, resulting in substantial income. On the other hand, the increasing popularity of various drinking habits has resulted in consumer dine-out trends.
The report offers the appropriate analysis of the key organizations/companies involved within the Europe wine market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Accolade Wines
- Constellation Brands
- Torres Wines
- E & J Gallo Winery
- Castel Group
- Treasury Wine Estates
- Pernod Ricard SA
- Financière Pinault SCA
- Louis Roederer
- Borie Manoux SAS
- Constellation Brands
- Blossom Hill
- Château Lafite Rothschild
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On January 2023, Pernod Ricard United Kingdom has introduced Cafayate and Leaps & Bounds, a new line of Australian wines inspired by dogs. The first two wines in the range, Shiraz and Chardonnay, featured labels that emphasized dogs' "inquisitiveness, boldness, and loyalty."
This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Europe Wine Market based on the below-mentioned segments:
Europe Wine Market, By Type
- Sparkling Wine
- Still Wine
- Others Sparkling Wine
- Still Wine
Europe Wine Market, By Flavors
- White Wine
- Red Wine
- Rose Wine
Europe Wine Market, By Distribution Channel
Europe Wine Market, By Country
- United Kingdom
- Rest of Europe
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