Market Research Report
United States Wine Market - Growth, Trends and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||946000|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|United States Wine Market - Growth, Trends and Forecast (2020 - 2025)|
|Published: June 1, 2020||Content info: 90 Pages||
United States wine market is anticipated to witness a CAGR of 1.47% during the forecast period (2020 - 2025).
Extensive Vineyard Area is Anticipated to Strengthen the Market
The United States has been manufacturing wines from ages and wine products have become a significant meal accompaniment in the country. The new innovation in terms of flavor, color, and packaging customizations have led to increased sales of wines across the country. Nevertheless, to satiate the high demand, a considerable land area has been converted into vineyards to cater to the need for grapes that would be highly-priced if sourced from outside the United States. The manufacturers, thus, procure grapes in bulks from these vineyards to produce wines at lower prices and fulfill the demand for locally produced wines.
The Demand for World-class Wines is Likely to Drive the Market
The European countries, especially Italy, France, and Spain have been major producers of wines for over centuries due to the abundant availability of grapes for wine production, backed up by the increasing demand for their wines, globally. The United States has been extensively importing premium wines from countries across the globe to fulfill its demand, despite itself being a major ground for innumerable wine manufacturers. Thus, the continuous import of high-quality wines into the country is expected to hold back a strong consumer base and drive the country's wine market in the near future.
The United States wine market is fragmented with the presence of several global as well as domestic players. The major opportunity for the players to grab the market is by launching innovative solutions to cater to the market, amidst the complex market situation due to the transforming consumption pattern of the local people. The taste, type, and cost also play a major role in laying a heavy brand foundation. The renowned players have a strong hand due to their brand image and are, therefore, they are indulging in geographical expansions, while others are considering mergers, acquisitions, and partnerships to capture the regional market.