Wine - Worldwide

The Wine market has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: Customers in Worldwide have shown a growing interest in wine consumption. Wine is no longer seen as a luxury product but has become more accessible to a wider range of consumers. The younger generation, in particular, has shown a preference for wine over other alcoholic beverages. This shift in customer preferences has led to an increase in wine consumption and a growing demand for a variety of wine types and flavors.

Trends in themarket: One of the key trends in the Wine market in Worldwide is the rise of organic and sustainable wines.This trend has led to an increased demand for organic wines, which are made from grapes grown without the use of synthetic pesticides or fertilizers. Another trend in the market is the increasing popularity of wine tourism, and many tourists are now seeking out wine-related

Local special circumstances: One of the unique aspects of the Wine market is the diversity of wine-producing regions. Some of the most renowned wine regions, such as Bordeaux, Tuscany, and Napa Valley, has their own distinct climate, soil, and grape varieties, which contribute to the unique characteristics of the wines produced there.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Wine market. Firstly, the increasing global population and rising disposable incomes have led to an expansion of the middle class, who are more likely to consume wine.

In conclusion, the Wine market in Worldwide is experiencing growth due to changing customer preferences, emerging trends in the market, unique local circumstances, and underlying macroeconomic factors. The increasing interest in wine consumption, the rise of organic and sustainable wines, the popularity of wine tourism, and the diversity of wine-producing regions all contribute to the development of the market.

Data coverage:
The data encompasses B2C enterprises. The data only covers at-home sales (e.g., sales via supermarkets, hypermarkets, convenience stores). All prices include all sales and consumption taxes and are valued at consumer prices.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.