Market Research Report
Global Craft Wine Market - 2020-2027
|Published by||DataM Intelligence||Product code||996906|
|Published||Content info||180 Pages
Delivery time: 2 business days
|Global Craft Wine Market - 2020-2027|
|Published: March 23, 2021||Content info: 180 Pages||
Craft wine is commercially available and limited produced wine, as per the global craft wine association. These wines taste are local, handcrafted, and other different flavors which small and independent vendors produce. According to the beer manufacturers, they disagree in style, who fill several ingredients such as spices, herbs, and varieties to enhance their taste profile. They also have several health benefits due to organic substance in it with bitter taste, which is one of the significant reasons to attract the consumers. The increasing feel in a particular way towards flavorful and high-quality drinks is likely to forward its demand in the global market during the craft wine industry forecast period.
The global craft wine market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
Shifting consumer preference toward the health benefits and after the pandemic people concern about health conscious, that's why the craft wine market increases. Creativity in cocktails is also one-factor influencing peoples, and there are also many varieties with healthy ingredients and taste. According to the International Wines and Spirits Record (UK) 2018, the premium craft wine market consumption increased by more than 5% in the United State.
Considering the current market scenario, consumers are shifting towards craft wine because of its quality and different taste and the benefits of craft wine, which helps grow the global craft wine market. Increasing the e-commerce business also increases the awareness of its benefits and helps gain consumers and is also readily available in e-commerce business sites. The production of craft wine is not all over the world but growing and attracting the consumers and changing the preferences.
Its creativity and different types of taste with including natural ingredients, also attract the consumers. The distinct flavor is available in the market such as sweet, salty, bitter, sour, umami. Also, these types of craft wines enhance the atmosphere and provide a luxurious atmosphere. Much more creativity is available in the craft wine market, attracting consumers towards the craft wine market. The growth is also supported by the rising purchasing power of the consumers in the market.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Also, the lockdown policies have strengthened the demand for handcrafted wine and different wine flavors across the globe. Therefore, the manufacturers are started investing to increase the production capabilities to meet the global market's updated demand.
Despite the pandemic, there is growth in the overall handmade and different wine taste, which is expected to drive the craft wine's market size in the global market during the forecast period.
Based on the type, the craft wine market has been classified into sparkling wine, still wine, and others.
The sparkling wine market is expected to account for the largest market share in 2019. It is further estimated to lead the global craft wine market during the forecast period due to its high demand globally. Moreover, the increasing popularity of alcoholic beverages such as wine and beer in old age people is expected to grow significantly. The growing investment by leading market players to expand the craft wine market's production is an essential factor for the market growth.
Based on the flavors, the craft wine market has been classified into rose wine, white wine, red wine, and others.
Considering the current market scenarios, the rose wine is raising its demand for its rich taste and dark fruit flavors, while white wine is refreshing, fruity, and crispy taste. Although, these are primairly made by the grapes. It is also expected that the rose wine market is widely influenced by social media and influential celebrities, that wished to play a significant role in the global craft wine market development. The rose wine and white wine are expected to play an essential role in developing the global craft wine market in the coming years.
Based on geography, the study analyzes the craft wine market globally, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America dominates the global craft wine market in terms of value and volume due to leading manufacturing companies and easy accessibility of premium quality craft wine in the form of beverages. It is also leading due to the growth in demand for its flexibility and durability. In Italy, the growing demand for rose wine and white wine in the beverage sector enhances its market position in the global craft wine market in the coming years.
The Asia Pacific is estimated to grow at the highest growth rate during the forecast period. The region's growth is primarily driven due to craft wine markets to influence the consumers by celebrities. The global companies are investing in the region to increase the export from the low-cost area, which is further expected to increase the craft wine consumption in the domestic region during the forecast period.
The craft wine market is highly competitive, owing to the presence of big food & beverage brands. The key craft wine players which are contributing to the growth of the global market include A Blooming Hill Vineyard and Winery, Chateau Niagara Winery, ALDI Inc., House of Saka, Koi Zen Cellars, LGI Wines, Auscraft Wine, CRFT Wines, Clover Hill, Wines, Scotch Church Road Vineyard, Willamette Valley wine and among others. The major players are adopting new product launch and expansion strategies for global growth in the Craft Wine market.
Overview: Willamette Valley Wine Group is engaged in the production and distribution of wines, nutrition and health, flavors, and fermentation products. Its products include red wine, rose wine, white wine, and others. The company also offers different flavors in wine grapefruit, flower, creamy, herbs aroma, etc. Willamette Valley Wine markets products of brands including OO Wines, Abbey Road Farm, Abbott Claim, Adea Wine Company, Alloro Vineyard. The company offers contract drying and contract fermentation services. It has operations in Africa, Asia Pacific, Central and Eastern Europe, Latin America, Middle East, North America, and Western Europe. Willamette Valley Wine is headquartered in Turner, Oregon, and United States.
Product Portfolio: The company's portfolio comprises wine products, flavor products, mixes and blends, nutrition and health products, and other services.
The global craft wine market report would provide access to an approx. 75 market data table, 69 figures, and 270 pages.
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