Wine Market growth, business opportunities, share value, key insights and size estimation by 2031 | The Wine Group, Constellation Brands, Pernod Ricard, Brown-Forman

New York, 2022-Jul-14 — /EPR Network/ — Global Wine market size is estimated to be more than $425bn in 2021 and expected to increase at the rate of more than 6% over the forecast period.

Global Wine Market report from Global Insight Services is the single authoritative source of intelligence on Wine Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Covid-19 Impact

The impact of COVID-19 on the wine industry has been widespread and significant. The virus has caused vineyards and wineries to close, and has disrupted the global supply chain. The pandemic has also led to a decrease in demand, as consumers are increasingly choosing to drink at home rather than in restaurants and bars. The wine industry is expected to recover in the long term, but the pandemic has undoubtedly had a major impact on the sector.

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Key Trends

In recent years, there has been a shift in the wine market. More and more people are interested in trying new wines and are willing to spend more money on wine. This has led to an increase in the number of wineries and vineyards. There has also been a trend towards organic and biodynamic wines.

Technology has also changed the way wine is made and sold. Wineries are using new technologies to track their grapes and monitor their wines.

Key Drivers

One of the key drivers has been the increasing popularity of wine among millennials. This demographic is increasingly interested in wine, with many seeking out new and interesting varieties.

Another driver has been the growth of the online wine market. More and more consumers are buying wine online, often from specialist retailers. This has made it easier for consumers to find wines that suit their taste and budget.

Finally, the wine industry has benefited from a general trend towards more premium wines.