Evolve Business Intelligence has published a research report on the Global Flavored Wine Market, 2023–2033. The global Flavored Wine market is projected to exhibit a CAGR of around 6.5%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Flavored Wine Market: Danone SA, The Coca-Cola Company, PepsiCo Inc., Nestle SA, Otsuka Pharmaceutical Co. Ltd, FIJI Water Company LLC, Voss Water, FIJI Water Company LLC, National Beverage Corp., Binzomah Group, and Hana Water-Hana Food Industries Co.
Market Highlights
The global Flavored Wine Market Size is expected to reach USD 623.8 Billion by 2033. The global Flavored Wine industry size accounted for USD 382.4 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.02% from 2023 to 2033. The flavored wine market refers to the segment of the wine industry that focuses on producing wines with added flavors, such as fruit extracts, spices, herbs, or other natural or artificial ingredients. Flavored wines offer consumers a variety of taste options beyond traditional wine flavors, catering to different preferences and expanding the overall wine market.
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The COVID-19 pandemic has had both positive and negative impacts on the flavored wine market. Initially, the market experienced a decline in sales and disruptions in the supply chain due to lockdowns, restrictions on social gatherings, and the closure of bars and restaurants. The closure of these establishments significantly reduced the demand for flavored wines. However, as people adapted to the new normal and sought ways to enjoy beverages at home, the flavored wine market started to recover. Consumers looked for unique and interesting flavors to enhance their at-home drinking experiences. The convenience of flavored wines, which offer ready-to-drink options with diverse flavors, became increasingly appealing.
Additionally, online sales and e-commerce platforms played a crucial role in the recovery of the flavored wine market during the pandemic. Many consumers turned to online channels to purchase their favorite flavored wines, leading to a surge in online wine sales.
Segmental Analysis
The global Flavored Wine market has been segmented based on Type, and Distribution channel.
Based on the Type, the Flavored Wine market is segmented into Still Water, Sparkling Water, and Functional Water. The Still water segment is expected to have the larger market share throughout the forecast period.
Based on Distribution Channel, the global Flavored Wine market has been divided into Off-trade and On-trade. The off-trade Based segment is anticipated to dominate the market.
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Regional Analysis
The Flavored Wine market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, North America and Europe are the two major regions driving the growth of the Flavored Wine market. North America North America is a significant market for flavored wines. The United States, in particular, has a strong demand for flavored wines, driven by the popularity of sweet and fruity wine options. The region also witnessed the emergence of new flavors and innovative products. In Europe, flavored wines have gained popularity, especially among younger consumers. Countries like Spain, Italy, and France have a long-standing tradition of producing flavored wines, such as Sangria. The market in Europe is influenced by regional preferences and the demand for traditional flavors. The flavored wine market in Asia Pacific is expanding rapidly, primarily driven by the rising disposable income, changing lifestyles, and increasing urbanization. Countries like Japan, China, South Korea, and Australia have witnessed growing demand for flavored wines, particularly among the younger population.
