Wine - Americas

The Wine market in Americas is experiencing steady growth and development, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in the Americas are increasingly opting for wine as their beverage of choice due to its perceived health benefits and cultural significance. Wine is often associated with sophistication and is considered a staple in many social gatherings and celebrations. Additionally, the rising trend of wine tourism has also contributed to the growing popularity of wine in the region.

Trends in the market: One of the key trends in the Wine market in Americas is the increasing demand for organic and natural wines. Customers are becoming more conscious about the ingredients and production methods used in their wines, leading to a greater demand for wines made from organic grapes and produced using sustainable practices. This trend is driven by the growing interest in health and wellness, as well as the desire to support environmentally friendly practices. Another trend in the market is the rise of online wine sales. With the increasing popularity of e-commerce and the convenience it offers, more customers are turning to online platforms to purchase their favorite wines. This trend has been further accelerated by the COVID-19 pandemic, which has led to a shift towards online shopping across various industries.

Local special circumstances: The Wine market in Americas is influenced by various local special circumstances. In North America, for example, the market is dominated by the United States, which is one of the largest wine consumers in the world. The country has a strong wine culture and a growing number of domestic wineries, contributing to the overall growth of the market in the region. In South America, countries like Argentina and Chile are known for their high-quality wines, particularly Malbec and Cabernet Sauvignon. The favorable climate and terroir in these regions have made them ideal for wine production, attracting both domestic and international customers.

Underlying macroeconomic factors: The growth of the Wine market in Americas is also influenced by underlying macroeconomic factors. Economic stability and rising disposable incomes in the region have allowed customers to spend more on premium wines. Additionally, the increasing urbanization and westernization of lifestyle in many countries have also contributed to the growing demand for wine. In conclusion, the Wine market in Americas is experiencing growth and development due to changing customer preferences, including the demand for organic and natural wines, as well as the rise of online wine sales. Local special circumstances, such as the strong wine culture in the United States and the favorable climate in South America, further contribute to the market's growth. Underlying macroeconomic factors, such as economic stability and rising disposable incomes, also play a significant role in driving the market forward.

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.