Global White Wine Market Report 2023: Forecast Market Size, Key Growth Drivers And Industry Trends
19 May, 2023
The global white wine market size is expected to grow from $37.71 billion in 2022 to $39.72 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global white wine market size is expected to grow to $47.99 billion in 2027 at a CAGR of 4.8%.
Global White Wine Market Key Driver
The increased consumption of wine is expected to drive the growth of the white wine market in the future. Wine is an alcoholic drink made from fermented grape juice. Grapes are crushed to release their sweet liquid, which is then converted into alcohol via alcoholic fermentation. Red and white wines are the most popular global wines. Wine consumption is increasing primarily as a result of concern and uncertainty, as well as its taste and the digital environment. For instance, according to the statistics shared by the Wine Institute, a US-based association of 1,000 California wineries and wine-related businesses, in the USA, 1.1 billion gallons of wine was consumed in 2021, an increase of 10% from the year before. Whereas, 971 million gallons of wine was consumed in 2019. Therefore, the rise in the consumption of wine is driving the growth of the white wine market.
Get a sample of the global white wine market reportGlobal White Wine Market Segments
The global white wine market is segmented:
1) By Type: Chardonnay, Pinot Grigio, Sauvignon Blanc, Viognier, Torrontes, Albarino, Other types
2) By Body Type: Light Bodied, Medium Bodied, Full-Bodied
3) By Sweetness Level: Dry, Semi-Sweet, Sweet
4) By Sales Channels: Modern trade, Grocery Store, Convenience Stores, E-Commerce
5) By Geography: The regions covered in the white wine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Europe accounts for the largest share in the global white wine market.
Major White Wine Industry Players
E&J Gallo Winery, Caviro, Grupo Penaflor S.A., The Wine Group, Accolade Wines Australia Limited, Casella Family Brands, Treasury Wine Estates (TWE), Great Wall, Viña Concha y Toro SA, Château Lafite Rothschild, Penfolds, Louis Roederer, Marchesi Antinori, Harlan Estate, Screaming Eagle, Changyu Pioneer Wine Co. Inc., and Pernod-Ricard.
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White Wine Market Overview
White wine is a light-colored wine with a pale yellow hue made from green, yellow, or black grapes without their skins. White wine has an alcohol concentration ranging from 5% to 14% ABV (alcohol by volume).
White Wine Global Market Report 2023 provides data on the global white wine market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The white wine market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.