Rockville, MD, Aug. 31, 2018 (GLOBE NEWSWIRE) -- According to a recently-published report by Fact.MR, white wine is likely to lose its traction in the food & beverage industry for the time to come. By the end of 2022, the global market for white wines will have expanded at a listless pace of 3.5% CAGR, raking revenues worth just over US$ 46 Bn. Following insights will reveal how increasing awareness about inferior health benefits associated with white wine consumption will impede the growth of global white wine market , during the forecast period, 2017-2022.
Growing indulgence of consumers towards a glass of fine, white wine in summers indicates the rising popularity of white wine in dietary cultures across several parts of the world. European consumers may agree that the amount of white wine consumed by them on an average basis is way higher compared to their consumption of any other drink. However, consumers across the globe are becoming more aware about white wine’s potential in harming the health of consumers. Manufacturers of white wine are being constrained by limited application of white wine in food & beverage industry. That, and increasing presence of new research studies that prove the association of white wine consumption in incidence of inflammatory infections, are collectively observed to restrain the global market for white wine from expanding unceasingly.
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Key Highlights on Future of Global White Wine Market
1- Throughout the forecast period, Europe will remain the largest market for white wine. Cultural influences and lifestyle habits makes white wine a popular drink among European consumers of all ages.
2- The white wine market in North America, meanwhile, will reflect growth at a relatively steadier pace compared to Europe’s white wine market. Considering the rising demand for alcohol-based beverages in US, North America’s white wine market will witness a relatively steady demand throughout the forecast period.
3- The report also projects that the Asia-Pacific excluding Japan (APEJ) region will register fastest expansion for its white wine market, bringing in nearly US$ 7.6 Bn revenues by 2022-end. Robust industrial infrastructure, coupled with ample availability of grapes, is expected to boost the growth of white wine market in the APEJ region.
4- Pinot Grigio, a key product segment in the global market for white wines, is expected to showcase absolute dollar opportunity worth over half a billion dollars by 2022 over 2017.
5- Chardonnay wines will grow at a relatively steady pace, compared to sluggish sales projections of other types of products available in the global market. By 2022-end, the global white wine market will have procured over US$ 6 Bn revenues through sales of Chardonnays.
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6- Over the forecast period, Riesling will be the top-selling white wine in the world, procuring the largest revenue share on the global market.
7- Between 2017 and 2022, global sales of white wines through other retail formats will have created an incremental opportunity of more than US$ 1 Bn. On the same line, the report also predicts that modern trade outlets will continue to dominate the global market by being the largest sales channel for white wines.
8- Nearly two-fifth of global white wine revenues will be amassed from sales of light-bodied white wines. By the end of 2022, a little over US$ 17.8 Bn revenues are expected to come from sales of medium-bodied white wines.
9- In 2017 and beyond, the demand for sweet white wines will have witnessed a considerable decline. By the end of 2022, less than one-fourth share of global revenues will be procured from global sales of sweet white wines.
10- The report further projects a conversely high demand for semi-sweet white wines. Towards the latter half of the forecast period, sweet white wines will have surpassed global revenue share of 40%, reflecting a relatively steady CAGR compared to dry and sweet white wines. The report has also profiled prominent players in the global market for white wine, which include Diageo Plc., Caviro, Viña Concha y Toro SA, The Wine Group, Casella Family Brands, Grupo Peñaflor S.A., E&J Gallo Winery, Accolade Wines Australia Limited, Treasury Wine Estates, and Constellation Brands, Inc.
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