Global wine consumption could see a ‘shift’ by 2027

Published Mar 6, 2024

Tridge summary

A report by Research and Markets forecasts a change in global wine consumption trends from 2022 to 2027. The global wine industry, currently worth US$346.8 billion, is projected to grow at a CAGR of 8.8% to reach US$528.2 billion by 2027. The volume of the global wine market is also expected to rise from 24 billion litres in 2022 to 26.7 billion litres in 2027. Western Europe and the US are the leading regions in wine consumption, holding 49.5% and 21.6% of the market share respectively. The report also highlights high potential countries for wine consumption and provides an in-depth analysis of each country's market, economic development, governance indicators, socio-demographic factors, and technological infrastructure.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Wine consumption trends could be about to “shift” according to a new report analysing the global wine market changes between 2022 and 2027. According to the research, led by analysts at Research and Markets, the findings bring together multiple data sources to provide an overview of the global wine sector and collates data from 107 countries. The data showed that the global wine sector was valued at US$346.8 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 8.8% during 2022-27 to reach US$528.2 billion. Additionally, in volume, the findings show that the global wine market will reach 26.7 billion litres in 2027, up from 24 billion litres in 2022 with leading territories being Western Europe with a 49.5% market share, followed by the US with 21.6%. The report also provides an overview of changes in the consumption of wine over 2017-27, at global and regional levels and has hinted that it pinpoints “high potential countries” for wine consumption as ...

Source: Thedrinkbusiness