A new Report by Delvens, titled "Premium Wine market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Premium Wine market size was estimated at USD 328.46 billion in 2023 and is projected to reach USD 503 billion in 2030 at a CAGR of 6.3% during the forecast period 2023-2030.
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The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The increase in demand for rare and vintage wines and spirits can be attributed to their perceived higher value and exclusivity. Furthermore, the growing interest in luxury wines and spirits is driven by the desire for a distinct and personalized experience.
The prominent players in the Premium Wine market are
· Accolade Wines
· Asahi Groups Holdings Ltd.
· Bass Philip
· Beijing Yanjing Beer Group Corporation
· Casella
· Castel Freres
· Changyu Pioneer Wine Company
· Chateau Cheval Blanc
· Constellation Wines
· Cullen Wines
· E. & J. Gallo Winery
· Fetzer
· Gioconda
· Halewood Wines International
· Henschke Cellars
· International Beverage Holdings
· John Distilleries
· Leeuwin Estate
Recent Developments
In April, 2023, Provi, a notable online marketplace for alcoholic beverages, made public its announcement of innovative product characteristics. The primary objective of these novel features is to elevate the efficiency of the three-tier system.
In March, 2023, Ferrari Trento unveiled three wine varieties to commemorate three distinguished races that will take place this year. These three novel bottles draw inspiration from the renowned race circuits of Las Vegas, Zandvoort, and Imola.
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Europe is estimated to account for the largest market share during the forecast period due to a rise in wine consumption with meals, consumption of premium wine at social gatherings and celebrations, an increase in consumer preference for premium wines, increase in options to customize the flavour, colour, and packaging of premium wine.
The Distribution Channel segment is further bifurcated into Store Based Retailers and Online Retailers. The Store Retail Sales Channel is the largest market during the forecast period. The physical presence of wine bottles in actual stores allows customers to fully engage with the product by examining labels and packaging.
This tangible shopping experience enhances the sense of discovery and participation, which is often lacking in online shopping. Furthermore, laws and licensing regulations in numerous regions favor the sale of alcoholic beverages through retail channels, thereby elevating the importance of brick-and-mortar stores in the wine industry.
The Premium Wine Market is segmented into various segments such as wine type, Wine Flavour, product category, distribution channel, price range, and region:
Based on Wine Flavour
· Red Wine
· Rose Wine
· White Wine
Based on Wine Type
· Still Wine
· Sparkling Wine
· Fortified Wine and
· Dessert Wine
Based on the Product Category
· Alcoholic Wine
· Non-Alcoholic Wine
Based on Distribution Channel
· Store Based Retailers
· Online Retailers
Based on the Price Range
· Below US$ 5
· US$ 5 to US$ 10
· US$ 10 to US$ 15
· Above US$ 15
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Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Premium Wine Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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