Global opportunities in the white wine market and strategies until 2033: the Sauvignon Blanc segment is expected to be the fastest-growing segment by type, with a CAGR of 6.6% from 2023 to 2028.

Dublin, June 12, 2024 (GLOBE NEWSWIRE) -- A new report titled "Opportunities and Strategies in the Global White Wine Market until 2033" has been added to the ResearchAndMarkets.com analytical database. In 2023, the global white wine industry reached an approximate value of $40.2 billion, showing a compound annual growth rate (CAGR) of 3.2% since 2018. Forecasts indicate that the market will grow from $40.2 billion in 2023 to $52.8 billion by 2028, with a growth rate of 5.6%. Then, starting in 2028, further growth is expected at a rate of 6.1%, leading to a value of $70.9 billion by 2033.

The development of the market in historical periods can be explained by accelerated urbanization, active economic growth in developing countries, and an increase in international tourism volumes. However, the stabilization of growth has also been hindered by strict government regulations regarding the production and sale of alcoholic beverages. In the future, an increase in disposable income per capita, the growth of online trade, and improvements in the standard of living on a global scale will become the main factors contributing to market development. Nevertheless,increase in alcohol taxesThis may slow down the expansion of this segment.

Types of white wine

White wine is divided into several categories: Chardonnay, Pinot Grigio, Sauvignon Blanc, Viognier, Albariño, Riesling, and others. In 2023, the Chardonnay segment accounted for the largest share, making up 34.4% or $13.8 billion of the total market volume. In the coming years, various types of Sauvignon Blanc are expected to show the highest growth rates with a CAGR of 6.6% from 2023 to 2028.

Classification of white wine

In addition, white wine is classified by its level of body: light, medium, and full. The largest segment in 2023 was medium-bodied wine, accounting for 43.3% or $17.4 billion. It is forecasted that light wine will be the fastest-growing segment, increasing by 6.3% during the same period. In terms of sweetness, the dry wine segment also holds the largest share at 61.8%, approaching $24.8 billion. It is also expected to show the highest growth among sweet wines with a CAGR of 5.9%.

Trade channels

In addition, the white wine market is divided by sales channels into "off-trade" and "on-trade" segments.

Geographical distribution

In 2023, Western Europe accounted for 41.7% of the total white wine market, which amounts to $16.8 billion. Following are North America, the Asia-Pacific region, and other areas. It is expected that in the future, the fastest-growing regions will be the Asia-Pacific countries and North America, with growth rates of 7% and 5.9% respectively. Western Europe and South America will show moderate growth rates of 5.4% and 4.9%.

Competitive environment

The global white wine market appears to be relatively concentrated, with large companies operating in it. In 2022, the ten largest players accounted for 24.1% of the total market volume. This high concentration is explained by the active presence of large companies in various regions. The largest player isConstellation Brands Inc.with a share of 8.5%, after which comesPernod Ricard SAwith 7.3%E&J Gallo Winerywith 3.8% and other companies.

Future prospects

The available prospects in the white wine market are divided by type: Chardonnay, where global sales are expected to approach $4.2 billion by 2028; by body, with light wine growing to $5.4 billion; by sales channel, with offline sales projected to increase to $7.3 billion. In terms of sweetness level, dry white wine is anticipated to see a growth of $8.3 billion.

Trends and strategies

The trends shaping the development of white wine are focused on creating new products to expand the product line, strategic partnerships and joint initiatives among players, the introduction of new packaging formats, such as canned sparkling wines, in response to changing consumer preferences, and the use of artificial intelligence to analyze various aspects.

KeystrategiesTo maximize the effective use of opportunities in the white wine market are:

• introduction of innovative types of white wine;
• focus on the development of canned sparkling wines;
• the use of AI for quality control;
• increased focus on the Sauvignon Blanc segment, light and dry wines;
• strategic partnerships to improve distribution channels;
• growth in developing regions;
• modernized pricing strategies;
• active participation in exhibitions.

The analysis covers market characteristics, its growth, segmentation, regional and country data, competitive landscape, company shares, as well as strategies and trends in the market. It examines historical data and predicts future growth, placing the market in the context of the global white wine industry and comparing it with other segments.

Covered markets

The covered markets include segmentation by types: Chardonnay; Pinot Grigio; Sauvignon Blanc; Viognier; Albariño; Riesling; other varieties. By body type: light, medium, and full; by sales channels: offline and online; by sweetness level: dry, semi-sweet, and sweet. The countries included in the study are China, Australia, India, Indonesia, Japan, South Korea, the USA, Canada, Brazil, and many others.

In general, this report is a valuable source of information about the global white wine market, including current data and trends that will help players and investors effectively take advantage of the opportunities presented by this industry.