Wine And Brandy Global Market Report 2024

The wine and brandy market size has grown strongly in recent years. It will grow from $161.94 billion in 2023 to $170.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The historical growth in this context can be credited to several factors, including the cultural and social significance of the product, traditional craftsmanship, global export opportunities, the promotion of wine tourism, and the increasing consumer interest in premium products.

The wine and brandy market size is expected to see strong growth in the next few years. It will grow to $207.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period is driven by several factors, including the influence of health and wellness trends, efforts to adapt to climate change, the adoption of sustainable practices, the increasing prevalence of e-commerce and direct-to-consumer sales, the emergence of new markets, and the trend towards premiumization. Noteworthy trends in the projected period encompass practices such as biodynamic and organic winemaking, the production of low-alcohol and non-alcoholic varieties, the popularity of orange wine, the rise of craft distillation and micro-distilleries, and the creation of wine and brandy cocktails.

The wine and brandy manufacturing (wineries) market is expected to experience growth in the forecast period due to the increasing demand for ready-to-drink (RTD) beverages. RTD beverages are single-use packaged drinks designed for immediate consumption at the time of purchase. They are gaining popularity among working adults because of their clear labels and convenience. The introduction of new flavors in the RTD alcoholic beverage range, portability, and convenience are anticipated to drive demand for RTD alcoholic beverages. The rising demand for RTD beverages, including RTD alcoholic beverages, will be a driving force for the wine and brandy manufacturing (wineries) market.

The primary categories within this context are wine and brandy. Wine is an alcoholic beverage primarily crafted through the fermentation of grapes. During this process, yeast consumes the grape sugars, converting them into ethanol and carbon dioxide while generating heat. These alcoholic beverages come in various categories, including mass-produced, premium varieties, and are distributed through different channels, such as off-trade and on-trade channels.

The wine and brandy research report is one of a series of new reports that provides wine and brandy statistics, including wine and brandy industry global market size, regional shares, competitors with wine and brandy share, detailed wine and brandy segments, market trends and opportunities, and any further data you may need to thrive in the wine and brandy industry. This wine and brandy research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wine and brandy market is set to benefit from the growing demand for alcoholic beverages. Alcoholic beverages contain ethanol, a type of alcohol produced through the fermentation of grains, fruits, or other sources of sugar. The demand for alcoholic beverages is on the rise due to the socialization trend, increased interest in premium alcoholic beverages, and the growing affordability of high-quality cognac and brandy. For example, according to the 2021 National Survey on Drug Use and Health (NSDUH), a substantial 78.3% of people aged 12 and older reported consuming alcohol at some point in their lives, with a total of 219.2 million individuals. Hence, the increasing demand for alcoholic beverages is propelling the wine and brandy market.

The outbreak of COVID-19 had a significant negative impact on the wine and brandy manufacturing (wineries) market in 2020. The supply chains were disrupted due to trade restrictions, and consumption declined due to global lockdowns. However, it is expected that the wine and brandy manufacturing market will recover from this setback over the forecast period, as the impact was a result of an unforeseen event rather than a fundamental weakness in the market or the global economy.

Wine manufacturers are increasingly leveraging augmented reality mobile applications to effectively promote their products. These applications, when used with mobile phones, can display creative video content related to a wine bottle's label, conveying the brand's story and engaging customers. For example, Treasury Wine Estates introduced the 19 Crimes augmented reality mobile app, which animates criminals depicted on its bottle labels when the phone camera is pointed at them. Other wineries, such as E. & J. Gallo Winery and The Walking Dead, have also launched augmented reality mobile applications.

Major companies in the wine and brandy market are concentrating on product innovations, such as Mercian Wines, to diversify their wine product offerings and appeal to a broader range of consumers. Mercian Wines is a new brand tailored specifically for Japanese consumers. In March 2022, Mercian Corporation, a Japanese beverage company, launched Mercian Wines in Japan. These wines are crafted from a variety of grapes grown in Japan and blended to provide familiar yet exciting choices for Japanese consumers. They are available in various sizes to cater to different preferences.

Major companies operating in the wine and brandy market include Pernod Ricard, Kirin Holdings Company Limited, Christian Dior SE, The Molson Coors Brewing Company, Constellation Brands, Suntory Holdings Limited, Asahi Group Holdings Ltd., Treasury Wine Estates Limited, Anheuser-Busch InBev sa/nv, Altria Group Inc., E. & J. Gallo Winery, Accolade Wines, Bacardi Limited, The Bronco Wine Company, Castel Group, Chapel Down Group PLC, Foley Family Wines Holdings Inc., The Wine Group, Delicato Vineyards Inc., Michael David Winery, Chalone Vineyard, Edna Valley Vineyard, Acacia Winery, Canoe Ridge Vineyard, Jade Mountain Vineyard, Sagelands Vineyard, Echelon Wine Partners Pty Ltd., Hewett Vineyard, Orogeny Vineyards, Arbor Mist Winery, Cook's Champagne Cellars, Paul Masson Grande Amber Brandy, Canandaigua Wine Company, Vendange, Banrock Station, Peter Mondavi Jr.

Western Europe was the largest region in the wine and brandy market in 2023. Asia-Pacific was the second-largest region in the wine and brandy market. The regions covered in the wine and brandy market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the wine and brandy market are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The wine and brandy market consists of sales of champagne, alcoholic cider, fortified wines, ice wines, sparkling wines, vermouth, very special cognac, very special old pale cognac, extra old cognac, very special armagnac, very special old pale armagnac, extra old armagnac, and other wine and brandy. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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