Market Research Report
North American Wine Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||925722|
Delivery time: 2-3 business days
|North American Wine Market 2019-2025|
|Published: January 15, 2020||Content info:||
North American Wine Market Size, Share & Trends Analysis Report by Type (Still Wine, Sparkling Wine, Dessert Wine, and Fortified Wine), by Distribution Channel (Online and Offline), Forecast Period 2019-2025.
The North American wine market is estimated to grow at a CAGR of 3.2% during the forecast period. The wine industry valued at $47.3 billion in 2018 and is estimated to reach $58.5 billion in 2025. Health benefits and premiumization of wine products along with innovation in flavor and more advanced distribution networks across the globe are the major factors that drive the growth of North American wine industry. The wine contains antioxidants that, when consumed, fight with free radicals to avoid diseases such as cancer.
According to the Wine Institute of the US, the consumption of wine has been increased over the past 4 years from 919 million gallons in 2015 to 966 million gallons in 2018. However, the consumption of wine per individual has not seen a sharp increase. In 2015, the wine consumption per individual was 2.86 gallons and in 2018 the wine consumption per individual was 2.95 gallons. According to the World Health Organization, in 2016, wine holds 28% of share (in terms of volume) in the overall alcoholic beverage consumption across the globe. Growing demand for wine is contributing to North American wine market growth.
The prominent companies in the market are Constellation Brands, Treasury Wine Estates, and Accolade Wines. These market players adopt several strategies in order to stay competitive in the market. For instance, in June 2019, No Fine Print Wine Co. had launched Lil Fizz. Lil Fizz is a highly crushable, slightly fizzy canned white wine that is readily available online and at retail locations across the US. The launch of Lil Fizz is expected to address the demand for high-quality crushable wine of the consumers.
The market study of the North American wine market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for wine manufacturing companies, wine distributors and suppliers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.