Still Wine Industry Overview
The global still wine market size was valued at USD 279.32 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2022 to 2028.
The market growth can be credited to the consumption of premium still wines. Additionally, the increasing number of wineries in the domestic and international industry owing to the rising number of wine consumers is expected to fuel the market growth. Factors such as traveling and rising disposable income are leading to the adoption of global lifestyles and cultures, therefore leading to the appreciation and consumption of good wines. Thus, these factors are expected to drive the market for still wine. In addition, changing the preference of alcohol consumers from hard liquor to mild or low alcoholic beverages such as wine, beer, and seltzers is a prime factor boosting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Still Wine Market
The growing investment by key players to launch new products is further anticipated to boost the industry sales. However, a gradual shift of wine consumers towards non-alcoholic beverages owing to the introduction of innovative beverages may hamper the growth of the market. Owing to the COVID-19 pandemic, the industry demand has been steady. As a result of the lockdowns, the production and supply chain of raw materials required for the manufacturing of wines were deeply affected, thus hampering the market growth.
During the COVID-19 pandemic, online sales channels have witnessed strong growth due to a variety of applications and stay-at-home regulations. According to the International Organization of Vine and Wine (OIV), online wine sales spiked during the pandemic in 2020. The growth in internet sales can be ascribed to many countries and states reducing their buying and shipping regulations. It was mostly driven by the social distancing and drinking at the home trend. Fueled by unique pandemic circumstances, digital platform innovation ushered in a new era of convenient and user-friendly online purchasing. Consumer inclination towards online sales channels to buy still wine has turned out to be a key trend transforming the global market.
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Market Share Insights
- April 2021: Freixenet extended its inventory of still wines to draw demand from its new consumers.
- November 2020: Freixenet launched two still wines, namely Italian Rose and Pinot Grigio, to draw demand from new consumers.
Key Companies profiled:
Some prominent players in the global still wine market include
- Diageo
- Pernod-Ricard
- Constellation Brands
- & J. Gallo Winery
- Treasury Wine Estates (TWE)
- Castel Group
- Trinchero Family Estates
- Changyu Group
- Casella Family Brands
- Kendall-Jackson Wine Estates
- The Wine Group
- Dynasty Fine Wine Groups Limited
- Accolade Wines
- Concha y Toro
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