U.S. Wine Market Size Worth $85.00 Billion By 2025 Due To Growing Consumer Preference For The Low Percentage Of Alcohol | Grand View Research, Inc.

 Breaking News
  • No posts were found

U.S. Wine Market Size Worth $85.00 Billion By 2025 Due To Growing Consumer Preference For The Low Percentage Of Alcohol | Grand View Research, Inc.

March 04
14:17 2021
U.S. Wine Market Size Worth $85.00 Billion By 2025 Due To Growing Consumer Preference For The Low Percentage Of Alcohol | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to the report published by Grand View Research, Inc., multiple factors such as low percentage of alcohol by volume, diverse range of prices with equally diverse flavors, along with growing accessibility due to increasing smaller distilleries in the country are expected to keep the market filled with demands in the forecasted period.

According to a report, “U.S. Wine Market Size, Share & Trends Analysis Report, By Product (Table Wine, Dessert Wine, Sparkling Wine), By Distribution (On-trade, Off-trade), Competitive Landscape, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., the U.S. wine market is expected to reach USD 85.00 billion by 2025. Rising per capita consumption of wine with meals and desserts is expected to drive growth over the forecast period.

Accessibility of consumers to the products play a very important role in the market’s growth. Therefore, the growing access of consumers to the product in stores, restaurants, bars, nail salons, bookstores, coffee shops, movie theaters, and car wash & repair shops continues to expand over 5,500,000 locations in the U.S., and is playing a huge role in the market’s growth. In addition to this, producers and manufacturers are targeting niche sales channels such as direct-to-consumer sales and tasting rooms, driving the growth through usual routes.

Adoption of technology in the management and manufacturing of the product has helped the market grow at a quicker pace in the recent years. For instance, Agri-business software offered various industry-specific solutions and application of software to manage administrative tasks, track internal production and sales data, is likely to complement growth in the coming years as well. Also, help from E-commerce and digital marketing tools is expected to aid the market in driving up sales as the online sales of wine products have been legalized in the majority of the U.S. states.

The industry is highly competitive, and the product competes with other alcoholic and nonalcoholic beverages for restaurant presence, retailer shelf space, distributor attention, brand recognition and promotions. Some of the key players among the 50 major companies in the market are the Wine Group, Constellation Brands U.S. Operations, Inc., E. & J. Gallo Winery, Treasury Wine Estates. Constant innovation in the market and manufacturing process by these key players are set to boost the growth in the coming years. 

Further key findings from the report suggest:

Innovative ideas like forming groups, gatherings to raise awareness about the benefits of wine and etc., are expected to boost sales. For example, in June 2020, Miller Family Wine Company announced the launch of an innovative new wine club, reflecting five generations of quality in a monthly offering of their high-quality Central Coast wines.

Mergers & Acquisitions is used as an expansion strategy by several key players. For instance, in October 2020, Miller Family Wine Company, a division of the Thornhill Companies, acquired BNA Wine Group’s portfolio of wines.

On the basis of products, table wine accounted for 82.2% of the revenue share in 2017 on account of low Alcohol by Volume (ABV) content and availability of wide varieties of blends including Merlot, cabernet sauvignon, chardonnay, and pinot noir

• Sparkling wine is expected to grow at a CAGR of 10.8% over the forecast period owing to low cost of the product, which offers affordable luxury to young consumers celebrating different events throughout the year

On the basis of distribution, the off-trade distribution channel accounted for the largest revenue share in 2017, distributing over 71.3% of the product on account of increasing sales through supermarket chains, liquor stores offering value and variety in their selection

• On-trade distribution channel is expected to grow at a CAGR of 4.4% on account of high demand from restaurants and hotels with increasing consumer income, and the rising level of spending at wineries

• Companies in the industry are highly competitive, and the major players compete on the basis of wide range of product portfolio, quality, brand names, pricing, and distribution strength; however, small-scale producers depend on distributors for promotional support.

Get Sample Copy of This Premium Report @ https://www.grandviewresearch.com/industry-analysis/us-wine-market/request/rs1

Grand View Research has segmented the U.S. wine market on the basis of product and distribution:

Product Outlook (Volume, Million Liters; Revenue, USD Billion; 2014 – 2025)
    • Table Wine
    • Dessert Wine
    • Sparkling Wine

Distribution Outlook (Volume, Million Liters; Revenue, USD Billion; 2014 – 2025)
    • On-trade
    • Off-trade

Fill The Pre-Order Enquiry Form For The Report @ https://www.grandviewresearch.com/inquiry/5045/ibb

Browse More Related Report:

Canned Wines Market:The global canned wines market size was valued at USD 70.3 million in 2019 and is expected to witness significant growth in the years to come.

Honey Wine Market:The global honey wine market size was valued at USD 408.45 million in 2018. The market is estimated to expand further at a CAGR of 10.41% from 2019 to 2025.

About Grand View Research

Grand View Research is a market research and consulting company based in the State of California with headquarters in San Francisco. The company offers consulting services tailored for business organizations to assist them with understanding and exploring their potential on a large scale. At the same time, Grand View Research caters to the individual research needs to provide a customized research service.

Grand View Research is fully committed to offer the best research services in the Industry. Our dedicated team of experienced analysts offer full capability and potential to precisely understand your research needs.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/us-wine-market

Related Articles