The Premium Wine Market is thriving with positive growth prospects. Consumers worldwide appreciate the exceptional quality, distinct flavors, and superior craftsmanship of premium wines. As the culture of wine appreciation expands, the demand for high-quality, premium offerings rises. Premium wine producers benefit from increasing consumer affluence, growing wine tourism, and rising interest in wine and food pairings. The market's positive trajectory reflects the enduring appeal of premium wines, making it an attractive segment for wineries and wine enthusiasts alike.
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Data Bridge Market Research analyses that the Premium Wine Market is expected to grow at a CAGR of 6.5% in the forecast period of 2022 to 2029 and is expected to reach USD 89,087.95 million by 2029 from USD 53,829.71 million in 2021. The globalization of the wine industry has opened up new markets for premium wines, leading to increased production and distribution. As more countries and regions become interested in premium wines, wineries are focusing on meeting the demand by exporting their high-quality products to international consumers.
Key Findings of the Study
Expanding wine culture is expected to drive the market's growth rate
The expanding wine culture is a significant driver of the demand for premium wines. With a heightened focus on wine appreciation, consumers are becoming more discerning and seek wines that offer exceptional taste and quality. The wine culture emphasizes the importance of food and wine pairings, enhancing the overall dining experience. Additionally, social experiences and gatherings centered around wine contribute to the growing popularity of premium wines, as they are seen as symbols of sophistication and enjoyment in social settings.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Wine Colour (Red Wine, White Wine, Rose Wine, and Others), Product Type (Still Wine, Fortified Wine, Sparkling Wine, Dessert Wine), Product Category (Alcoholic Wine and Non-Alcoholic Wine), Flavour (Original and Flavoured), Aging Years (1-17 Years, 18-24 Years, 25-44 Years, 45-64 Years and 65+ Years), Ageing Barrel Type (Oak, Maple, Cedar, Hickory and Others), Price Range (Premium and Super Premium), Distribution Channel (Store Based Retailers and Online Retailers)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Vina Concha Y Toro (Chile), Treasury Wine Estates (Australia), Mount Mary Vineyard (Australia), Vins Grands Crus (France), Sula Vineyards (India), Moss Wood (Australia), Leeuwin Estate (Australia), E. & J. Gallo Winery (U.S.), Constellation Brands, Inc. (U.S.), Castel Freres (France), The Wine Group (U.S.), Accolade Wines (Australia), Pernod Ricard (France), Rockford (Australia), Henschke Cellars (Australia), Gioconda (Australia), Cullen Wines (Australia), Bass Philip (Australia), Changyu Pioneer Wine Company (China), Casella (Australia), Chateau Cheval Blanc (France), Miguel Torres S.A. (Spain), Fetzer (U.S.), GRUPO PENFLOR (Argentina)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The premium wine market is segmented on the basis of wine colour, product type, product category, ageing barrel type, by price range, distribution channel.
- On the basis of wine colour, the global premium wine market is segmented into red wine, white wine, rose wine and others.
- On the basis of product type, the global premium wine market is segmented into still wine, sparkling wine, fortified wine and dessert wine.
- On the basis of product category, the global premium wine market is segmented into alcoholic wine and non-alcoholic wine.
- On the basis of flavour, the global premium wine market is segmented into original and flavoured.
- On the basis of aging years, the global premium wine market is segmented into 1-7 years, 18-24 years, 25-44 years, 45-64 years and 65+ years.
- On the basis of barrel type, the global premium wine market is segmented into oak, maple, cedar, hickory and others.
- On the basis of price range, the global premium wine market is segmented into premium and super premium.
- On the basis of distribution channel, the global premium wine market is segmented into store based retailers and online retailers.
Major Players
Data Bridge Market Research recognizes the following companies as the major premium wine market players in Premium Wine market are Leeuwin Estate (Australia), E. & J. Gallo Winery (U.S.), Constellation Brands, Inc. (U.S.), Castel Freres (France), The Wine Group (U.S.), Accolade Wines (Australia), Pernod Ricard (France), Rockford (Australia)
Market Developments
- In 2022, Pernod Ricard announced the launch of a digital label system to better inform consumers about the products they purchase as well as responsible drinking.
- In 2022, E. & J. Gallo Winery announced that the Gallo is the Official Wine Sponsor of the National Football League (NFL). This has helped the company to increase its global presence in the market
Regional Analysis
Geographically, the countries covered in the global premium wine market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Europe is the dominant region in the global premium wine market during the forecast period 2022-2029
Europe's dominance in the premium wine market can be attributed to its rich winemaking heritage, diverse wine regions, and established reputation for producing high-quality wines. European countries such as France, Italy, Spain, and others boast renowned wineries and vineyards that attract wine enthusiasts globally. As the wine culture continues to evolve and premium wines gain popularity, Europe's market share and revenue are poised to flourish during the forecast period, cementing its leadership in the global premium wine market.
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