Dublin, June 12, 2024 (GLOBE NEWSWIRE) -- The "White Wine Global Market Opportunities and Strategies to 2033" has been added to ResearchAndMarkets.com's offering.
The global white wine market reached a value of nearly $40.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.2% since 2018. The market is expected to grow from $40.2 billion in 2023 to $52.8 billion in 2028 at a rate of 5.6%. The market is then expected to grow at a CAGR of 6.1% from 2028 and reach $70.9 billion in 2033.
Growth in the historic period resulted from rapid urbanization, strong economic growth in emerging markets and growth in the tourism industry. Factors that negatively affected growth in the historic period were stringent government regulations on alcohol.
Going forward, rising disposable incomes per capita, surge in e-commerce and retail sales and increase in global population will drive the growth. Factor that could hinder the growth of the white wine market in the future include tax increases.
The white wine market is segmented by type into chardonnay, pinot grigio, sauvignon blanc, viognier, albarino, riesling and other types. The chardonnay market was the largest segment of the white wine market segmented by type, accounting for 34.4% or $13.8 billion of the total in 2023. Going forward, the sauvignon blanc segment is expected to be the fastest growing segment in the white wine market segmented by type, at a CAGR of 6.6% during 2023-2028.
The white wine market is segmented by body type into light-bodied, medium-bodied and full-bodied. The medium-bodied market was the largest segment of the white wine market segmented by body type, accounting for 43.3% or $17.4 billion of the total in 2023. Going forward, the light-bodied segment is expected to be the fastest growing segment in the white wine market segmented by body type, at a CAGR of 6.3% during 2023-2028.
The white wine market is segmented by sweetness level into dry, semi-sweet and sweet. The dry market was the largest segment of the white wine market segmented by sweetness level, accounting for 61.8% or $24.8 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the white wine market segmented by sweetness level, at a CAGR of 5.9% during 2023-2028.
The white wine market is segmented by sales channel into off-trade and on-trade. The off-trade market was the largest segment of the white wine market segmented by sales channel, accounting for 61.3% or $24.6 billion of the total in 2023. Going forward, the on-trade segment is expected to be the fastest growing segment in the white wine market segmented by sales channel, at a CAGR of 6% during 2023-2028.
Western Europe was the largest region in the white wine market, accounting for 41.7% or $16.8 billion of the total in 2023. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the white wine market will be Asia Pacific and North America where growth will be at CAGRs of 7% and 5.9% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 5.4% and 4.9% respectively.
The global white wine market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 24.1% of the total market in 2022. The market high concentration can be attributed to the presence of large players in different geographies. Constellation Brands Inc. was the largest competitor with a 8.5% share of the market, followed by Pernod Ricard SA with 7.3%, E&J Gallo Winery with 3.8%, Treasury Wine Estates with 1.3%, The Wine Group with 0.9%, Grupo Penaflor S.A with 0.5%, Vina Concha y Toro SA with 0.5%, China Great Wall Wine Co. Ltd with 0.4%, Accolade Wines Australia Limited with 0.4% and Changyu Pioneer Wine Co. Inc. with 0.3%.
The top opportunities in the white wine market segmented by type will arise in the chardonnay segment, which will gain $4.2 billion of global annual sales by 2028. The top opportunities in the white wine market segmented by body type will arise in the light-bodied segment, which will gain $5.4 billion of global annual sales by 2028. The top opportunities in the white wine market segmented by sales channel will arise in the off-trade segment, which will gain $7.3 billion of global annual sales by 2028. The top opportunities in the white wine market segmented by sweetness level will arise in the dry segment, which will gain $8.3 billion of global annual sales by 2028. The white wine market size will gain the most in the USA at $2.5 billion.
Market-trend-based strategies for the white wine market include focus on introduction of new products to expand product portfolio, strategic partnerships and collaborations among market players, launch of canned sparkling white wines to cater to shifting consumer preferences and use of AI-based tools to analyze various parameters of wine.
Player-adopted strategies in the white wine market include expanding business through strategic acquisitions, reinforce position in the global market through new product launches and expanding business through strategic partnerships.
To take advantage of the opportunities, the analyst recommends white wine companies to focus on introducing innovative white wine variants, focus on launching canned sparkling white wines, focus on utilizing artificial intelligence for quality assurance, focus on sauvignon Blanc segment for growth opportunities, focus on light-bodied wines, focus on dry white wines segment, focus on strategic partnerships for enhanced distribution, expand in emerging markets, continue to focus on developed markets, focus on value-based pricing strategies, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, leverage digital marketing channels, cultivate brand advocacy through experiential marketing, focus on targeted consumer engagement for off-trade market, focus on urbanization-driven demand and focus on e-commerce users.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider white wine market; and compares it with other markets.
Markets Covered:
- By Type: Chardonnay; Pinot Grigio; Sauvignon Blanc; Viognier; Albarino; Riesling; Other Types
- By Body Type: Light-Bodied; Medium-Bodied; Full-Bodied
- By Sales Channel: Off-Trade; On-Trade
- By Sweetness Level: Dry; Semi-Sweet; Sweet
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; white wine indicators comparison.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $40.2 Billion |
| Forecasted Market Value (USD) by 2033 | $70.9 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Companies Profiled:
- Constellation Brands Inc.
- Pernod Ricard SA
- E&J Gallo Winery
- Treasury Wine Estates
- The Wine Group
- Grupo Penaflor S.A.
- Vina Concha y Toro SA
- China Great Wall Wine Co. Ltd
- Accolade Wines Australia Limited
- Changyu Pioneer Wine Co. Inc
- Torres China
- Diageo
- Accolade Wines
- Casella Family Brands
- Fratelli Wines
- Caviros Winery
- Chateau Lafite Rothschild
- Marchesi Antinori Srl
- Vina Concha Y Toro
- Bolney Wine Estate
- Yantai Changyu Pioneer Wine Company Limited
- Alira
- Winnica Equus
- Winnica Adoria
- Winnica Wzgorza Trzebnickie
- Recas Wineries
- Harlan Estate Winery LLC
- Screaming Eagle Winery and Vineyards
- Jackson Family Wines
- Trinchero Family Estates
- Bronco Wine Company
- Kendall-Jackson Vineyard Estates
- Robert Mondavi Winery
- Wente Vineyards
- Arterra Wines Canada Inc
- SipClean
- Woodbridge Wines
- Winc., Inc
- Rodney Strong Vineyards
- Catena Zapata
- Bodega Garzon
- Vina Montes
- Errazuriz
- Concha y Toro
- Bodega Norton
- WX Brands
- Santa Rita
- Chateau Musar
- Massaya
- Taybeh Winery
- Saint Thomas Wines
- Distell Group Limited
- KWV Holdings
- Groupe Castel
- Domaines Agricoles
- Les Celliers de Meknes
- EgyBev
- Societe des Grands Crus de l'Ouest
For more information about this report visit https://www.researchandmarkets.com/r/8unwxs
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