Global White Wine Market Grows Steadily at a CAGR of 5.9%

Introduction

The importance of wine in European societies is growing, and this tendency is also observed in Asian countries. The working class and younger generations frequently drink wine and throw house parties in these places. These factors likely encourage market expansion. Consumer preference for white wine is growing, as evidenced by the summertime glasses they choose. The wine market is anticipated to be driven by an increase in consumer demand because of wine's health benefits, the premiumization of wine products, flavor advancements, and expanding global distribution networks. White wine drinkers are perceived as being wealthy. This is promoting the growth of the world wine market as a whole.

Market Dynamics

Growing Preference for Premium White Wine Drives the Global Market

The premium white wine industry has seen substantial growth due to the increased demand for white wine beverages with distinctive and stimulating flavors. Furthermore, it is anticipated that the market for luxury white wine will expand in the coming years due to customers' growing taste for high-end white wine beverages. While older consumers wish to reduce their alcohol intake, younger millennial customers show rising indifference to alcohol. More people are opting to drink pricey wine because of this. In both countries with a long history of wine production and countries with less developed wine traditions, wine drinking has changed daily to infrequently.

Wine is no longer considered a required mealtime beverage or an essential part of daily living. Drinking is changing from a habit to a delight, which increases the market's desire for premium wine. Today's consumers in North America have more sophisticated tastes than those elsewhere. They have a constant need to try out novel, expensive alcoholic drinks. The performance of alcoholic beverages with natural ingredients is improved, and consumer interest in these products is rising.

Rising Alcohol Use as a Social Status Indicator Creates Tremendous Opportunities

Social connections, industrialization, and the escalating embrace of western culture are some factors promoting alcohol socialization among consumers. Since drinking alcohol is considered to be a show of social standing, wines with little or no alcohol are becoming more and more popular. It is quickly gaining popularity among millennials and young people because of its claimed refreshing qualities and low ABV offers. It is frequently associated with special occasions and served as a table wine with meals served daily in underdeveloped countries. Market growth is anticipated due to manufacturers' increased drive to create and release unique products.

Low-alcohol-by-volume beverages are becoming more popular in the North American market, particularly among millennials and baby boomers. Sales of low-alcohol drinks have been rising due to consumers' growing interest in health awareness and the availability of a more fantastic product selection with improved flavor, which enables them to choose products quickly, depending on their preferences.

Regional Analysis 

Europe is the most significant revenue contributor and is expected to grow at a CAGR of 3.20% during the forecast period. The Spanish wine market is dominated by consumers who prefer to drink wine at home because of price differences between on-trade and off-trade wine goods. The International Organization of Vine and Wine and the Spanish Wine Market Observatory both report that approximately 60% of consumers consider themselves frequent wine drinkers. The market showed good growth during the study period and is anticipated to grow over the projected period due to the tendency toward Designation of Origin, Vermouth, and Fortified Wines. As consumers look for upscale, higher-quality products that they perceive to be made from organic, natural ingredients, white wines with Designation of Origin have prospered during the study period.

North America is anticipated to grow at a CAGR of 2.45% during the projection period. Increasing wine prices and rising disposable income are the main drivers of the nation's white wine market. The primary grapes driving the market's expansion are Chardonnay, Pinot Grigio, Sauvignon Blanc, and Pinot Gris. Canadian White Wine is one of the most well-known brands in the nation. White wine accounts for a sizable share of the entire wine market, which is predominated by blended red wines, according to the Liquor Control Board of Ontario (LCBO). The market has grown due to the country's increased demand for fragrant white wines in recent years. White wines pair nicely with fish and pasta, claims Mywinecanada. A full-bodied white wine pairs nicely with dishes robust in protein and rich in flavor, like whitefish, risotto, avocado, and others.

Key Highlights

• The global white wine market was valued at USD 47,353.20 million in 2022. It is projected to reach USD 95,068.05 million by 2031, growing at a CAGR of 5.9% during the forecast period (2023-2031).
• Based on type, the global white wine market is bifurcated into dry white wine and sweet white wine. The dry white wine segment is the highest contributor to the market and is estimated to boost at a CAGR of 2.60% during the forecast period.
• Based on the distribution channel, the global white wine market is bifurcated into on-trade and off-trade. The off-trade segment is the highest contributor to the market and is estimated to grow at a CAGR of 1.80% during the forecast period.
• Europe is the most significant revenue contributor and is expected to grow at a CAGR of 3.20% during the forecast period.

Competitive Players

1. E&J Gallo Winery
2. Constellation Brands
3. Pernod-Ricard
4. The Wine Group
5. Treasury Wine Estates (TWE)
6. Vina Concha Y Toro
7. Accolade Wines
8. Casella Family Brands
9. Grupo Peñaflor
10. Caviro Group
11. Castel Frères

Recent Developments

• June 2024 - "Ridgeway," a new white wine that captures the spirit of the area, was introduced by a BORDER vineyard in honor of English Wine Week 2024, which takes place from June 15–23. Since its first vintage in 2013, the award-winning Kerry Vale Vineyard, which was founded in 2010 and is tucked away near Montgomery, has stood as a testament to viticultural excellence. The product of a generous 2022 harvest and a partnership with the renowned winemakers at Halfpenny Green Vineyard is the most recent addition to their range.
• May 2024 - The Cali Blanc, Snoop Dogg's most recent UK release, marked his entry into the white wine market. Cali is a Sauvignon Blanc made by Snoop that has a zingy, pleasant elderflower finish, pear drop, and tropical flavors of honeydew melon. After the releases of Snoop's Cali Red and Cali Rosé in 2022 and 2023, respectively, Cali Blanc marks Snoop Dogg's first foray into the white wine market.

Segmentation

1. By Type
   1. Dry White Wine
   2. Sweet White Wine
2. By Distribution Channel 
   1. On-trade
   2. Off-trade