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Key regions: Worldwide, Philippines, India, China, United Kingdom
The Wine market in Southern Africa is experiencing significant growth and development in recent years.
Customer preferences: Customers in Southern Africa have shown an increasing interest in wine consumption. Wine is no longer seen as a luxury item, but rather as a beverage that can be enjoyed on a regular basis. In particular, there has been a growing demand for red wine, which is considered to have health benefits and is often associated with social status. Additionally, there is a trend towards organic and sustainably produced wines, as consumers become more conscious of the environmental impact of their choices.
Trends in the market: One of the key trends in the Wine market in Southern Africa is the rise of local wine production. While imported wines still dominate the market, there has been a notable increase in the production of wines within the region. This can be attributed to several factors, including favorable climate conditions for grape cultivation, improved winemaking techniques, and government support for the local wine industry. As a result, local wines are gaining recognition both domestically and internationally, and are becoming increasingly competitive in terms of quality and price. Another trend in the market is the growing popularity of wine tourism. Southern Africa is home to several renowned wine regions, such as Stellenbosch in South Africa and the Cape Winelands in Zimbabwe. These regions offer not only picturesque landscapes and vineyards, but also a range of wine-related activities, such as tastings, cellar tours, and food and wine pairing experiences. Wine tourism has become a major draw for both domestic and international tourists, contributing to the overall growth of the Wine market in Southern Africa.
Local special circumstances: Despite the positive trends in the Wine market in Southern Africa, there are also some unique challenges and circumstances that need to be taken into consideration. One such challenge is the limited availability of suitable land for grape cultivation. Southern Africa is characterized by diverse landscapes, with varying soil types and climate conditions. This can make it difficult to find the ideal conditions for grape growing, particularly in certain regions. However, innovative techniques such as terracing and microclimate management are being employed to overcome these challenges and expand the potential for wine production.
Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the Wine market in Southern Africa. Firstly, the region has seen steady economic growth in recent years, resulting in an expanding middle class with increased purchasing power. This has translated into higher demand for luxury goods, including wine. Additionally, the region has experienced a growth in international tourism, as more travelers are drawn to the natural beauty and cultural attractions of Southern Africa. This influx of tourists has contributed to the growth of the hospitality industry, including the demand for wine in hotels, restaurants, and bars. Finally, there has been a shift in consumer preferences towards healthier and more sustainable products, which has further fueled the demand for wine in Southern Africa. In conclusion, the Wine market in Southern Africa is experiencing significant growth and development, driven by changing customer preferences, favorable market trends, unique local circumstances, and underlying macroeconomic factors. The rise of local wine production, the popularity of wine tourism, and the increasing demand for healthier and more sustainable products are all contributing to the positive trajectory 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)