Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "White Wine Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest white wine market report offers an extensive overview of industry progress and future projections. Chronicling the rise of the global white wine sector, the report provides an in-depth analysis of the market's expected climb from a strong $39.8 billion in 2023 to an estimated $41.9 billion by 2024, marking a substantial 5.3% compound annual growth rate (CAGR).
The research emphasizes key elements fueling the market's expansion, spotlighting the influence of evolving consumer preferences and demographic shifts. Industry professionals and observers will take keen interest in the projections for the market's expected surge to $51.88 billion by 2028, propelled by a consistent CAGR of 5.5%. Analysts attribute this robust forecast to shifts in cultural habits, the introduction of sophisticated marketing strategies, and a focus on sustainable and organic wine production.
Consumption Patterns Spark Market Upswing
Drinking habits and cultural influences are reshaping the white wine landscape. As populations become more health-conscious, the demand for organic and sustainably-produced wines is on the rise.
The preference for higher-quality, artisanal, and small-batch wines is similarly gaining momentum, presenting a substantial area of potential growth for producers and retailers. Furthermore, the proliferation of wine tourism is adding dimension to the industry, fostering an experiential connection and thus engendering brand loyalty amongst consumers.
Income and Innovation: Twin Engines of Growth
The report outlines the direct correlation between disposable income levels and wine consumption. As global economic indicators point to growth in disposable income, particularly in burgeoning markets, the white wine sector stands to benefit significantly.
This financial upturn is complemented by an emphasis on product innovation. Companies are investing heavily in research and development to offer novel white wine varieties, capturing attention in a competitive marketplace.
Strategic Corporate Movements Reshape the Competitive Landscape
- In a notable industry shift, the transformative acquisition of Constellation Brands, Inc. by E. & J. Gallo Winery, valued at $810 million, signifies a decisive consolidation of brand portfolios and diversification of offerings.
- Products like Intervention Organic White No. 1 by Oddbird Winery mark a significant step towards meeting the burgeoning demand for non-alcoholic and eco-conscious wine options.
- Winc, Inc.'s introduction of the Wonders brand of no sugar, organic, sustainable wine further underscores the commitment to health and environmental stewardship within the sector.
The analysis details the varied facets of the white wine market, dissecting trends, challenges, and opportunities. Regional insights highlight Europe's dominance in the white wine market in 2023, with comprehensive reports on other significant areas including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Special attention is given to the segmentation of white wine by type, body, and sweetness level, as well as distribution channels like modern trade, grocery stores, convenience stores, and e-commerce. With the increasing embrace of the digital realm for commerce, the e-commerce segment is projected to show formidable growth.
The current and future landscape of white wine is comprehensively mapped out, offering a foundational tool for those invested in the wine market's health and dynamism.
Markets Covered:
- By Type: Chardonnay; Pinot Grigio; Sauvignon Blanc; Viognier; Torrontes; Albarino; Other types
- By Body Type: Light Bodied ; Medium Bodied; Full-Bodied
- By Sweetness Level: Dry; Semi-Sweet; Sweet
- By Sales Channels: Modern trade; Grocery Store; Convenience Stores; E-Commerce
Companies Profiled
- E. & J. Gallo Winery
- Caviro S.c.a.
- Grupo Peñaflor S.A.
- The Wine Group Inc.
- Accolade Wines Australia Limited
- Casella Family Brands Pty Ltd
- Treasury Wine Estates Limited
- China Great Wall Wine Co. Ltd.
- Vina Concha y Toro S.A.
- Domaines Barons de Rothschild (Lafite)
- Louis Roederer S.A.
- Marchesi Antinori S.p.A.
- Harlan Estate Winery LLC
- Screaming Eagle Winery and Vineyards
- Yantai Changyu Pioneer Wine Company Limited
- Pernod Ricard SA
- Constellation Brands Inc.
- Jackson Family Wines
- Trinchero Family Estates
- Bronco Wine Company
- Kendall-Jackson Vineyard Estates
- Ste. Michelle Wine Estates Ltd.
- Miguel Torres S.A.
- Robert Mondavi Winery
- Kim Crawford Wines
- Wente Vineyards
- Rodney Strong Vineyards
- Fetzer Vineyards
- Hogue Cellars
- Beringer Vineyards
- Simi Winery
- La Crema Winery LLC
- Francis Ford Coppola Winery LLC
- J. Lohr Vineyards & Wines
- Bogle Vineyards Inc.
- Segura Viudas S.A.
- Mumm Napa Valley
For more information about this report visit https://www.researchandmarkets.com/r/qgwdox
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
