Wine - Worldwide

The Wine market in Worldwide has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: Customers in Worldwide have shown a growing interest in wine consumption. Wine is no longer seen as a luxury product but has become more accessible to a wider range of consumers. The younger generation, in particular, has shown a preference for wine over other alcoholic beverages. This shift in customer preferences has led to an increase in wine consumption and a growing demand for a variety of wine types and flavors.

Trends in the market: One of the key trends in the Wine market in Worldwide is the rise of organic and sustainable wines. Consumers are becoming more conscious of their health and the environment, leading them to seek out products that are produced using sustainable practices. This trend has led to an increased demand for organic wines, which are made from grapes grown without the use of synthetic pesticides or fertilizers. Additionally, there is a growing interest in wines produced from biodynamic farming methods, which take into account the natural rhythms of the earth and the cosmos. Another trend in the market is the increasing popularity of wine tourism. Worldwide is known for its picturesque vineyards and wineries, and many tourists are now seeking out wine-related experiences during their travels. This trend has led to the growth of wine tourism destinations, where visitors can learn about the wine-making process, taste different wines, and even participate in grape harvesting.

Local special circumstances: One of the unique aspects of the Wine market in Worldwide is the diversity of wine-producing regions. Worldwide is home to some of the world's most renowned wine regions, such as Bordeaux, Tuscany, and Napa Valley. Each region has its own distinct climate, soil, and grape varieties, which contribute to the unique characteristics of the wines produced there. This diversity has led to a wide range of wine styles and flavors, catering to different customer preferences.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Wine market in Worldwide. Firstly, the increasing global population and rising disposable incomes have led to an expansion of the middle class, who are more likely to consume wine. Additionally, changing cultural attitudes towards alcohol consumption have also played a role. Wine is increasingly seen as a sophisticated and healthier alternative to other alcoholic beverages, leading to an increase in its popularity. Furthermore, globalization and international trade have made it easier for wine producers to access new markets and reach a larger customer base. This has led to the growth of wine exports from traditional wine-producing regions, as well as the emergence of new wine-producing countries. In conclusion, the Wine market in Worldwide is experiencing growth due to changing customer preferences, emerging trends in the market, unique local circumstances, and underlying macroeconomic factors. The increasing interest in wine consumption, the rise of organic and sustainable wines, the popularity of wine tourism, and the diversity of wine-producing regions all contribute to the development of the market. Additionally, macroeconomic factors such as population growth, rising disposable incomes, and changing cultural attitudes towards alcohol consumption have also played a role in the market's growth.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.