Global Wine Market is expected to register a CAGR of 4.39% from 2019 to 2024 and reach USD 333.29 billion by the end of 2024. Wine needs no introduction, being around since 7000 BC suiting palates of consumers. Its market is ever increasing in thick & thins of economies. Although on the surface, Wine doesn’t seem to be undergone much of a transformation; there have been a lot of changes in its process like fermentation and filtration. Among them, Filtration expertise are critically important to achieve clarity and stability of fine Wine. And to attain the Filtration expertise, several technical advancements have been transpired in the field of Wines. Some of the notable innovations include – filter design innovation – Advanced Pleat Technology (APT), Rigid Extrusion Bonded Technology that controls the process parameters like temperature and pressure, and characteristics of the polypropylene resin. And Membrane Filter Technology offering unmatched protection of final membrane filters, as well as exceptionally long service life.
Top Key Players
The key players profiled in wines are E. & J. Gallo Winery (U.S.), Shanghai Torres Wine Trading Co. Ltd. (China), Treasury Wine Estates (Australia), Accolade Wines (U.K), Constellation Brands (U.K), Vina Concha y Toro (Chile) and Distell Group Limited (South Africa)
Market players in Wine Market are emphasizing in the merger & acquisition activities in order to upsurge the product portfolio of the company. Also, the manufacturers are also investing in the wine processing plant to increase the product portfolio.
Global Wine Industry is segmented into North America, Europe, Asia Pacific and Rest of the World. Among the entire region, Europe is estimated to account for the major market proportion in the year of 2017. The region is estimated to retain its dominance throughout the forecast period of 2017-2024. U.K and Germany are the major consuming countries of wine in Europe. Presence of key manufacturers in the European countries is considered to be one of the significant reasons for the rising growth of wine. Also, key manufacturers are focusing in the new product development which in turn escalates the sales of wine in Europe. However, Asia Pacific region is expected to expand at a high growth rate during the forecast period of 2017-2024. China and India are collectively accounting for the 50% of the overall Asia Pacific market. The growth of the Asia Pacific region is anticipated to be driven by the increasing youth population coupled with the increasing disposable income of the consumers.
The global wine market has been divided into source, type, distribution channel, and region.
On the Basis of Source: Apple, Grapes and other Fruits
On the Basis of Type: Red, White, and others
On the Basis of Distribution Channel: Food Service and Food Retail
On the Basis of Region: Europe, North America, Asia Pacific and ROW
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