PUBLISHER: The Business Research Company | PRODUCT CODE: 1486806
PUBLISHER: The Business Research Company | PRODUCT CODE: 1486806
White wine refers to a broad category of alcoholic beverages that is highly favored for its versatility, variety and compatibility with a wide range of dining options. The alcohol content in white wine varies from 5% to 14% but comes in at an average of 10% alcohol by volume (ABV). Produced by the fermentation of the non-colored pulp of grapes, white wine has been a staple in both daily consumption and ceremonial contexts for centuries.
The white wine market consists of sales of white wine by entities (organizations, sole traders and partnerships) that are involved in the production, distribution and retail of white wine.
The global white wine market was valued at $34,320.0 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Rapid Urbanization
During the historic period, rapid urbanization drove the growth of the white wine market. The population of urban areas grows at a faster rate than that of rural ones. Modifications in consumer tastes and lifestyles are frequently linked to urbanization. Lifestyle changes are frequently accompanied by urbanization. Consumer behavior tends to shift as people relocate from rural to urban regions. Cultural exchange centers are found in urban areas. When individuals from various places and origins congregate in urban areas, they contribute their cultural customs, such as eating and drinking habits. Given its adaptability and generally milder flavor than red wine, white wine may have become more and more popular as people in cities looked for new experiences and flavors. For example, in December 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization that promotes the interests of developing countries in world trade, The share of urban population was projected to have increased to 56.9% in 2022 from 56.5% in 2021. It is generally higher in the developed (79.7% in 2022) than in the developing world (52.3%).Therefore, rapid urbanization positively impacted the growth of the white wine market during the historic period.
Focus On Introduction Of New Products To Expand Product Portfolio
Companies in the white wine market are focusing on introducing new white wine variants aimed at expanding the product portfolio, catering to evolving consumer preferences and increasing market share. For instance, in April 2022, Winc., Inc., a US-based wine company that provides white wine, introduced Wonders, a core brand in the Winc portfolio and an organic, sustainable wine with no sugar. The brand will be sold on Winc.com and the first release featured rose, white and red varieties. With over 17,000 cases sold, the organic, no-sugar brand has been successful at stores including Walmart, HEB and Earth Fare. Additionally, in January 2021, DrinkWell, a UK-based company, introduced SlimLine Wine to the expanding selection of Skinny Wine. The wine is manufactured at Chateau Zero in Italy, utilizing a hidden technique that leaves the wine free of carbohydrates throughout the second fermentation stage by allowing the yeast to use up all of the natural fruit sugar in the grapes. Because no extra sugar is used in the process, the Slim Wine line is declared to be sugar-free.
The global white wine market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 24.1% of the total market in 2022.
White Wine Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global white wine market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for white wine? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The white wine market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider white wine market; and compares it with other markets.