The size of the Europe Wine Market is expected to be worth USD 101.73 billion in 2024 and grow at a CAGR of 4.99% from 2024 to 2029 to achieve USD 129.74 billion by 2029.
Wine is a by-product of the fermentation of grapes. Wine grapes are distinguished from ordinary grapes in that they are utilized in the making of wine. Yeast is utilized to convert sugar to ethanol and carbon dioxide in the winemaking process. It is possible to obtain it without the use of acids, enzymes, water, or other nutrients. The duration of contact between the fermented product and the grape skin controls the intensity of the wine color that can be obtained. Other fruits are occasionally used to make fruit wine. Wine grapes are smaller and have a thick, chewy skin. They have a peppery flavor and a thick, chewy skin. Red and rosé wines are made from red grapes, whereas white wine is made from white grapes. Different types of grapes are used to make different types of wine, as well as different yeasts.
As wine products gain in popularity at social events, rapid urbanization, rising disposable incomes, and changing lifestyles are some of the major drivers of the Europe wine market. There has been a rise in demand for wine across the Europe in recent years. Wines that are good for your health are gaining popularity, which is fueling market expansion. A growing demand for wine is being driven by an elderly population that prefers wine to alcoholic beverages. Wine is high in antioxidants, which combat free radicals and help to prevent diseases like cancer. Because of the health benefits and premiumization of wine goods, aromatic improvements, and the world's most advanced distribution networks, the wine market is booming.
The Europe wine market is being driven by the health benefits and premiumization of wine products, as well as flavor improvements and the most modern distribution networks around the world. The growing number of young wine lovers has resulted in an increase in the availability of wine goods and wine tasting events all over the world. Wine sales in India are boosted by exposing it to other countries where touring the world and drinking wine is a way of life. This will raise demand for wine among health-conscious consumers. Wine has a number of health benefits, including lowering the risk of stroke, enhancing bone density, and boosting the immune system.
The Europe wine market is primarily driven by the increasing number of people who drink wine and regard it as a form of social acknowledgment. The Europe wine market is accelerating due to changes in lifestyle and consumer income. The global market is predicted to increase due to the fast growing young population and increasing disposable income in many emerging countries around the world. The worldwide wine business is predicted to expand at a faster rate as the adoption of alcoholic beverages in developing countries grows as attitudes against alcoholic beverages shift. Demand for wine is projected to be driven by the fast-growing restaurant industry.
However, the Europe wine market is being hampered by rising wine prices due to high production costs. Because not everyone can afford wine, it is only drank by a small percentage of the population. Furthermore, growing government laws and regulations, as well as the implementation of taxes, are impeding the global wine market's progress. Heavy government tariffs and legal regulations on wine are a major impediment to the market's expansion.
COVID-19 had a significant influence on the wine industry as a result of the forced shutdown of on-trade wineries in countries such as the United States, the United Kingdom, India, and others in order to control the pandemic's impact. The current environment, on the other hand, may present a chance for the wine sector to reclaim lost consumer attention. According to the study, total wine volumes are increasing year over year as more consumers buy wine to drink at home with their meals, particularly in European and North American countries.
Based on color, red wine is anticipated to dominate the Europe wine market during 2024 to 2029. Crushing and fermenting entire, dark-colored grapes produces red wines with a wide range of flavor and color. Merlot, Pinot Noir, Cabernet Sauvignon, Shiraz, and other red wine types are among the most popular. Red wines moreover helps in reducing harmful cholesterol levels in the body. According to a study, the high-fiber Tempranillo red grapes, which are used to make Rioja and other red wines, lower harmful cholesterol levels. It not only keeps cholesterol levels in check, but it also keeps the heart healthy. Polyphenols, a type of antioxidant found in red wines, keep blood arteries flexible, preventing undesired clotting.
Based on taste, dry wines are anticipated to attribute the largest Europe wine market share in the next six years. Because dry wines have less sugar, they are healthier than sweet wines. High sugar levels in the body can lead to health issues such as heart disease, stroke, and kidney failure.
Based on product type, still wine had the biggest market share of more than 84.0 percent, and this is likely to continue throughout the forecast period. Still wines are popular with beginning wine drinkers because they are affordable and easily accessible through retail. Alcohol use has shifted from hard liquor to light alcoholic beverages such as beer, wine, and seltzers as a result of changing lifestyles. This trend is important for recruiting new customers and, as a result, it contributes to the segment's increasing demand.
From 2024 to 2029, sparkling wine is expected to grow at the fastest rate of 6.6 percent. The demand for the sector has been driven by increased consumer interest in spritz drinks and the spread of aperitivo culture across Europe.
Based on distribution channel, the off-trade category had the biggest Europe wine market share of 89.0 percent. Retail stores, supermarkets, and hypermarkets make up the off-trade distribution channel. The off-trade distribution route has witnessed more expansion than the on-trade channel as a result of the ongoing pandemic. The lockdown boosted demand for off-trade wine sales.
During 2024 to 2029, the on-trade distribution channel category is expected to grow at the fastest rate of 15.3 percent. The product's on-trade sales channel is projected to benefit from the expanding party culture among the younger and working-class population around the world. The COVID-19 pandemic, on the other hand, had a severe impact on the growth of this category due to the closure of outlets such as clubs, hotels, pubs, restaurants, and coffee shops, as well as a considerable decline in international tourism due to strict lockdown measures around the world.
Europe had the highest share of nearly 46.0 percent in wines market. France, with its greater population and high per capita wine consumption, is one of Europe's largest aggregate markets. Wine is imported in large quantities by countries such as Germany and the United Kingdom, where production far outnumbers consumption.
Due to the great availability of grapes for wine production, as well as the quantity of consumers and frequency of wine drinking among the natives, Italy has been a prominent producer of wines for ages. The region's winemakers have been inventing unique wine flavors to reclaim a strong market that is progressively dwindling owing to the invasion of soft drinks and health beverages, which is posing a serious threat to the wine sector. Due to their high quality, Italian wines are well-known around the world, and local products are expected to rise in popularity on the international market in the near future.
Major Key Players in the Europe Wine Market are E&J Gallo Winery, Constellations Brand, The Wine Group, Compagnia Del Vino SRL, Bacardi Limited, Caviro, Torres, Grupo Peñaflor SA, Treasury Wine Estates, and Castel Group
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