Wine - G20

The Wine market in G20 countries has been experiencing significant growth and development in recent years.

Customer preferences: Customers in G20 countries have shown a growing preference for wine consumption, driven by factors such as changing lifestyles, increasing disposable incomes, and a growing interest in wine as a social and cultural symbol. Wine is increasingly being seen as a sophisticated and fashionable beverage choice, particularly among younger consumers.

Trends in the market: One of the key trends in the Wine market in G20 countries is the increasing popularity of wine produced in local regions. Consumers are showing a greater interest in exploring and supporting domestic wine producers, leading to a rise in the demand for locally produced wines. This trend is particularly evident in countries with a strong wine culture and heritage, such as France, Italy, and Argentina. Another trend in the market is the growing demand for organic and sustainable wines. Consumers are becoming more conscious of their environmental impact and are seeking out products that align with their values. As a result, there has been an increase in the production and consumption of organic and biodynamic wines, which are made using environmentally friendly practices.

Local special circumstances: The Wine market in G20 countries is influenced by local special circumstances such as cultural traditions and regulations. In countries like France and Italy, where wine has a long history and is deeply ingrained in the culture, there is a strong demand for traditional and high-quality wines. These countries also have strict regulations and labeling requirements to maintain the integrity and authenticity of their wines. In countries like the United States and Australia, where wine production is relatively new compared to European countries, there is a greater emphasis on innovation and experimentation. This has led to the emergence of new wine styles and varieties, catering to the diverse tastes and preferences of consumers.

Underlying macroeconomic factors: The growth and development of the Wine market in G20 countries are also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes have played a significant role in driving the demand for wine. As consumers become wealthier, they are more likely to spend on luxury goods, including wine. Furthermore, the increasing globalization and international trade have facilitated the exchange of wine between different countries. This has led to a greater variety of wines being available in G20 countries, allowing consumers to explore and experiment with different styles and flavors. In conclusion, the Wine market in G20 countries is experiencing growth and development driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing popularity of wine, the demand for local and sustainable products, and the influence of cultural traditions and regulations are shaping the market trends in different G20 countries. The growth in the Wine market is also supported by economic growth and international trade, which have expanded the availability and variety of wines for consumers.

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.