In this article, we are going to discuss the best wine brand in the world. If you're also curious about other brands offering first-class grape, here are the . Wine is one of the .
As we mentioned in our article – – the global wine market size was valued at $441.6 billion in 2022 and is projected to reach a value of $698.54 billion by 2030, with a CAGR of 5.
9% over the forecast period. Wine is gaining huge popularity among millennials and youngsters, owing to its refreshing appeal and low ABV offerings. The rising demand for premium and luxury wines, increasing consumer awareness about the health benefits of wine, and the growing popularity of wine tourism are some of the key factors driving the growth of the wine market.
The United States was the world leader in the wine market in 2022 in terms of revenue, with $52.7 billion. Here are the The in 2023 was estimated to be 221 million hectoliters, marking a decrease of 2.
6% compared to the previous year. Since 2018, wine consumption around the world has decreased at a regular rate and 2023 marked the lowest volume recorded since 1996. This negative trend can be mainly attributed to the decline in China’s consumption, which has lost an average of 2 million hectoliters per year since 2018.
It was further accentuated in 2020 by the Covid-19 pandemic, which negatively affected many large wine markets. In 2022, the war in Ukraine and the associated energy crisis, together with the global supply chain disruptions, led to a spik.