DUBLIN, October 18, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Wine Market 2016-2020" report to their offering.
Wine is the third-largest segment of the global alcoholic drinks market. The wine market has become mature in Europe, especially in Germany, France, and Italy. However, APAC has the most potential for the manufacturers and is growing at a rapid rate.
The global wine market to reach a global consumption of more than 30 billion liters during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global wine market for 2016-2020. To calculate the market size, the report considers the the revenue generated from the sales of wine products to individual consumers. The report also includes a discussion of the key vendors operating in this market.
According to the report, a growth driver of the market is the increasing wine production in developing countries and new markets. The consumption of wine is increasing around the globe, and it is mainly due to the increasing consumption of wine by the younger generation. To meet the increasing demand, the players in the market have increased the wine production around the globe, and this is expected to continue during the forecast period. In 2015, global wine production was about 274.4 million hectoliters, an increase of about 2% compared to 2014. The total wine yard area is also increasing around the globe, and this factor is also helping to increase the wine production.
Emergence of private label brands is a trend emerging in the market that can affect the market during the forecast period. The retailers, especially the grocery stores, see private label as a profitable option with margins that are 10%-15% higher than national brands. Private label wines are wines made exclusively for a single retailer and are sold under the retailer's brand, not the winery's brand.
Private label has a market share of about 5%-10% in the US wine retail market. Major grocery retailers such as Tesco and Aldi have come up with their own brands of wine and the penetration level of private label in some of the European countries is more than 50%. However, the biggest challenge to the growth of private label is the issue of quality.
Further, the report states that availability of counterfeit products will be a challenge for the market. The wine industry is facing a major threat from the growing market of counterfeit products. Counterfeit products are not only spoiling the brand image, but they are also hampering sales. In China, the illegal sales of homemade rice wine are hampering the growth of original wine.
Key questions answered in this report
Other prominent vendors
For more information about this report visit http://www.researchandmarkets.com/research/4t77cm/global_wine
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