What is Sweet Wine Market?
The sweet wine market is expected to grow, owing its widespread availability worldwide. The wide range of products with various flavors through all categories and price points comprising of premium, popular, and luxury sector is expected to drive the market growth over the forecast period. Furthermore, use of other materials beside grapes as raw material, is a key factor promoting the market. Off late, manufacturers focusing on flavored wine production are seen to rise. They make use of material such as berries, cherries, rice, sugar, apples, palm, and others. In addition, growing consumer preference towards low percentage alcohol beverages and raising awareness about Alcohol by Value (ABV) will help potentially grow the market.
Highlights from Sweet Wine Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | E&J Gallo Winery (United States), Constellation Brands (United States), Castel Frères SAS (France), The Wine Group (United States), Accolade Wines (Australia), Treasury Wine Estates (Australia), Trinchero Family Estates, Inc. (United States), Pernod-Ricard (France), Diageo (United Kingdom), Casella Wines Pty Limited (Australia), Changyu Group (China) and Kendall-Jackson Vineyard Estates (United States) |
The sweet wine market is fragmented owing to the number of players present in the market. Increasing awareness about alcohol by volume among customer expected to grow sweet wine market. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Sweet Wine market throughout the forecasted period.
E&J Gallo Winery (United States), Constellation Brands (United States), Castel Frères SAS (France), The Wine Group (United States), Accolade Wines (Australia), Treasury Wine Estates (Australia), Trinchero Family Estates, Inc. (United States), Pernod-Ricard (France), Diageo (United Kingdom), Casella Wines Pty Limited (Australia), Changyu Group (China) and Kendall-Jackson Vineyard Estates (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Concha y Toro (Chile), COFCO GreatWall Winery (Yantai) Co., Ltd. (China) and Dynasty Fine Wines Group Limited (Hong Kong). Sweet Wine Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Daily Meals, Social Occasions, Entertainment Venues and Other Situations |
Type | White Wine, Red Wine and Other Types |
Distribution Channel | Convenience Stores,On-Premises,Liquor Stores,Grocery Shops,Internet Retailing,Supermarkets,Others |
On the basis of geography, the market of Sweet Wine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Availability of Variety of Flavored Products and Emphasizing On Alcohol by Volume (AVB)
Market Growth Drivers:
Growing Customer Inclination towards Wine over Other Alcoholic Beverages and Rising Number of On-Premise Distribution Channels
Challenges:
Instability in Supply of Raw Material Crops owing to Weather Fluctuations and Production of Naturally Sugared Sweet Wine
Restraints:
Higher Excise Duties on Import of Alcoholic Beverages and Fluctuating Raw Material Prices
Opportunities:
Development in Automated Machinery for Production and Harvesting Techniques and Increasing Demand for Online Distribution Platforms
Key Target Audience
Specialty and Retail Stores, Online Retailers, Sweet Wine Manufacturers, Suppliers, and Distributors, Government Regulatory and Research Organizations, Investment Research Firms / Associations and Others
The sweet wine market is growing progressively. Market players are focusing on innovative techniques for harvesting and production. Further, direct-to-consumer sales channel in the wine market is on the rise owing to an increasing number of small wineries. Major market share in wine market is held by millennials and growing constantly.