Wine - United Kingdom

The Wine market in United Kingdom has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Wine market in United Kingdom is the changing preferences of customers. Wine has become increasingly popular among British consumers, who are now more willing to experiment with different varieties and styles of wine. In addition, there has been a growing trend towards wine consumption as a social activity, with wine bars and wine tasting events becoming more popular.

Trends in the market: One of the major trends in the Wine market in United Kingdom is the increasing demand for organic and natural wines. Consumers are becoming more conscious about their health and the environment, and are seeking out wines that are made with minimal intervention and without the use of chemicals. This trend is also driven by the growing interest in sustainable and ethically produced products. Another trend in the Wine market in United Kingdom is the rise of online wine sales. With the increasing popularity of e-commerce, more and more consumers are choosing to purchase wine online. Online wine retailers offer a wide selection of wines from around the world, making it easier for consumers to explore different options and find wines that suit their taste preferences.

Local special circumstances: The Wine market in United Kingdom is also influenced by local special circumstances. One of the unique aspects of the British wine market is the popularity of sparkling wine, particularly Champagne. The United Kingdom has a long-standing tradition of celebrating special occasions with Champagne, and this has translated into a strong demand for sparkling wines in general. In recent years, there has also been a growing interest in English sparkling wines, which are gaining recognition for their quality and craftsmanship.

Underlying macroeconomic factors: The growth of the Wine market in United Kingdom can also be attributed to underlying macroeconomic factors. The United Kingdom has a strong economy and a high standard of living, which has led to increased disposable income among consumers. This, in turn, has contributed to higher spending on luxury goods, including wine. Additionally, the United Kingdom has a well-established wine culture, with a long history of wine consumption and a strong tradition of wine appreciation. This cultural factor has created a favorable environment for the growth of the Wine market in United Kingdom. In conclusion, the Wine market in United Kingdom is experiencing growth due to changing customer preferences, including the demand for organic and natural wines and the rise of online wine sales. The local special circumstances, such as the popularity of sparkling wines, and the underlying macroeconomic factors, including a strong economy and a well-established wine culture, have also contributed to the development of the market.

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.