PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1699584
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1699584
Global Wine Market is estimated to be valued at USD 314.34 Bn in 2025 and is expected to reach USD 422.08 Bn by 2032, growing at a compound annual growth rate (CAGR) of 4.3% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 314.34 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 4.30% | 2032 Value Projection: | USD 422.08 Bn |
Increasing social acceptance of alcohol consumption, along with rising disposable incomes, has driven more people to consume wine on a regular basis. Moreover, changing lifestyles and exposure to Western culture through globalization have made wine a popular beverage even in developing nations in Asia Pacific and Latin America. The market growth is driven by factors such as rising alcohol socialization, increasing adoption of western culture, and growing disposable income. The COVID-19 pandemic has disrupted the global wine market, with alcohol consumption witnessing a negative demand shock across all regions amid the pandemic.
Rising population of wealthy middle-class consumers with higher spending power on premium beverages can boost demand for wine. Moreover, health benefits associated with moderate wine consumption, such as reduced risk of heart disease, has contributed to the popularity of wine. Increasing health-consciousness and awareness around sugar content can hamper the wine sales. However, growing experimentation among millennial and the launch of new product varieties, including rose, sparkling, and flavoured wines, provide new opportunities for vendors. Stringent regulations regarding alcohol advertisements and taxation can hamper the market growth.