Wine - Armenia | Statista Market Forecast

Wine - Armenia

Armenia

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Wine market amounts to US$41.9m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$13.3m in 2024.
Revenue, combined amounts to US$55.2m in 2024.
The revenue, at home is expected to grow annually by -0.25% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$40bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$15.09 are generated in 2024.
In the Wine market, volume, at home is expected to amount to 2.2m L by 2024.
Volume, out-of-home is expected to amount to 291.3k L in 2024.
Volume, combined is expected to amount to 2.5m L in 2024.
The Wine market is expected to show a volume growth, at home of -4.9% in 2025.0.
The average volume per person, at home in the Wine market is expected to amount to 0.78L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Armenia, a country known for its rich history and cultural heritage, is also making a name for itself in the wine market. As the wine industry continues to grow and evolve, it is important to understand the factors driving this development in Armenia.

Customer preferences: Armenian consumers are increasingly embracing wine as their beverage of choice. In recent years, there has been a shift in consumer preferences towards premium wines, with a growing demand for high-quality and unique products. This trend can be attributed to the rising disposable incomes and changing lifestyles of the Armenian population. Additionally, there is a growing interest in exploring different wine varieties and styles, both locally produced and imported.

Trends in the market: One of the key trends in the Armenian wine market is the focus on indigenous grape varieties. Armenia has a long history of winemaking, dating back thousands of years, and is home to unique grape varieties that are not found in other parts of the world. This has led to a renewed interest in traditional winemaking techniques and the production of wines that showcase the country's rich viticultural heritage. As a result, Armenian wines are gaining recognition both domestically and internationally. Another trend in the market is the increasing presence of boutique wineries. These small-scale producers are focusing on quality rather than quantity, producing limited quantities of premium wines. They often adopt sustainable and organic farming practices, which resonate with the growing consumer demand for environmentally-friendly products. The emergence of boutique wineries has also contributed to the overall diversification of the Armenian wine market, offering consumers a wider range of options to choose from.

Local special circumstances: Armenia's unique geography and climate play a significant role in the development of its wine market. The country's high altitude, volcanic soils, and continental climate create ideal conditions for grape cultivation. These natural factors contribute to the production of wines with distinct flavors and characteristics. Additionally, the strong cultural heritage of winemaking in Armenia has fostered a sense of pride and craftsmanship among local producers, further driving the growth of the industry.

Underlying macroeconomic factors: Armenia's growing economy and increasing tourism have also contributed to the development of the wine market. As the country attracts more international visitors, there is a greater demand for local products, including wine. This has led to an expansion of distribution channels and an increase in exports. Furthermore, the government of Armenia has been actively supporting the wine industry through various initiatives, such as providing financial incentives and promoting wine tourism. These efforts have helped to attract investment and stimulate the growth of the sector. In conclusion, the wine market in Armenia is experiencing significant growth and development. Customer preferences for premium wines, the focus on indigenous grape varieties, the presence of boutique wineries, and the unique local circumstances are all contributing to this trend. With the support of underlying macroeconomic factors, the Armenian wine industry is poised for further expansion in the coming years.

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.