Global Wine Manufacturing - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

The Global Wine Manufacturing industry is projected to experience moderate growth as a result of disparate global trends. The industry's performance relies on consumer trends and, therefore, on variables affecting consumer decisions. Many countries traditionally associated with wine consumption have been consuming less wine, while countries traditionally associated with beer consumption have consumed more wine. As a result, global consumption has grown modestly in recent years. Growth in consumption levels in important markets, like the United States, has fueled a large share of the industry's expansion. Industry revenue has grown at a CAGR of 0.2% over the past five years and is expected to reach $372.0 billion in 2024. This includes forecast growth of 1.1% in 2024 alone.

Trends and Insights

• Beer-drinking countries are increasingly consuming wine, while nations traditionally known for wine are drinking less of it.
• This shift indicates a changing landscape in global beverage preferences, reflecting broader cultural and economic trends. Red wines dominate global popularity, with Pinot Noir, Cabernet Sauvignon, Merlot, Zinfandel and Malbec being the most widely produced varieties.
• These types are favored for their distinct flavors and are commonly found in various wine regions. Europe leads global wine production, with France, Italy and Spain as the top three producers.
• These countries dominate the industry and contribute significantly to the world's wine supply. Consumer alcohol preferences are ever-shifting and vary across countries and regions.
• Wineries around the world compete fiercely with distilleries and breweries.

Industry Overview

Industry revenue has grown at a CAGR of 0.2 % over the past five years, to reach an estimated $372.0bn in 2024.

Trends and Insights

Wine consuming countries are drinking less wine The underlying variable that determines the growth of the wine industry is the level of global wine consumption. Factors influencing this include changing consumer preferences, increasing disposable incomes, emerging markets and evolving food and beverage pairings trends.

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

• A decline in alcohol consumption in Europe will likely threaten winemakers
• Beer consumption in countries like France, Italy and Spain will slow, benefiting the wine industry. This shift reflects changing consumer preferences, with more people opting for wine over beer.