Wine is an alcoholic beverage made from grapes, without the addition of acids, enzymes, sugars, water, and other nutrients. Yeast helps in the consumption of the sugar in the grapes and converts it into carbon dioxide and ethanol. Different yeasts and different varieties of grapes produce different types of wine. The variations in wine result from the complex interaction between the biochemical developments of the grapes. Grapes that are ideal for wine-making are mostly grown between the 30th and the 50th-degree latitude in both the Southern and Northern hemisphere. Wines that are not produced from the grapes are developed from rice and different fruits such as cherry, plum, elderberry, and pomegranate. The earliest known traces of wine include wines from China, Iran, and Georgia.
The global market for wine has been segmented on the basis of type and distribution channel. In terms of type, the global wine market has been segmented into sparkling wine and still wine. Still wine has been further sub-segmented into rose wine, red wine, white wine. Still wine is estimated to hold a prominent part of the wine market due to its easy convenience and popularity among the consumers. In terms of distribution channel, the global wine market can be segmented into online distribution channel of wine and offline distribution channel of wine. The offline distribution channel of wine can be further sub-segmented into supermarkets and hypermarkets, specialty stores, and convenience stores. The online distribution channel of wine is anticipated to expand rapidly during the forecast period due to rising internet facilities, easy convenience, and the presence of a large number of brands. However, the offline distribution channel of wine is estimated to dominate the market due to the presence of organized retail networks of wine in the developed and developing regions. Supermarkets and hypermarkets have been more popular in selling wine among consumers in recent years.
The global wine market is primarily driven by the rise in population consuming wine and considering it as a way of social recognition. Changing lifestyle and rising income among consumers are fuelling the global wine market. However, rising prices of wine due to high production costs are creating a restraint for the global wine market. Wine is mainly consumed among some sections of the population, as all the sections cannot afford wine. Moreover, rising government rules and regulations and imposition of taxes are hindering the expansion of the global wine market.
Additionally, different product innovation of wine and rising application of wine in different food and beverage products are generating opportunities for the global wine market.
In terms of region, the global wine market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe are expected to hold a major share of the wine market due to the rising grape production in these regions. The U.S is projected to dominate the wine market in the near future due to increasing grape cultivation and modernized processing methods. However, Asia Pacific, which includes China, India, and Japan, is likely to expand rapidly during the forecast period due to the rising number of retail companies of wine in the region.
Wines are gaining importance recently, and the keys players of wine are engaged in product innovation in order to satisfy the rising demand for wines among the population. Major players operating in the global wine market include Constellations Brand, E & J Gallo Winery, Torres, Treasury Wine estates, vina Conch y Toro, Distell Group, Global Drinks Finland, International Beverage Holdings, John Distilleries, Soyuz Victan and SPI Group, Accolade wines, and The Wine Group.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.