According to Grand View Research, the global wine market will see a considerable growth in its turnover.
“The global wine market will reach a turnover of $ 685.99 billion in 2028 and will grow at an annual rate of 6.4% starting as early as 2021“.
This trend will be supported by the increase in wine consumption among all age groups and in all markets around the world; increase also linked to the new preferences for wines and beverages with low alcohol content.
Still wines will remain the most popular category, confirming their 84% market share. “The most sustained growth rate will instead concern sparkling wines, destined to grow by 6.6% annually between 2021 and 2028“. All this thanks to the notoriety of Prosecco and the culture of the aperitif, now widespread throughout Europe.
“The privileged channel is by far the off-trade: the shelves of wine shops, supermarkets and hypermarkets represent an 89% share of wine sales“. The off-trade channel is and will be fundamental as it allows wineries and their wines to have a global presence, and favors the daily consumption of wine.
The complete Wine News article is available here.