Wine and Brandy Market Grows: 5.65% CAGR

Evolve Business Intelligence has published a research report on the Global Wine and Brandy Market, 2024–2034. The global Wine and Brandy Market is projected to exhibit a CAGR of around 5.65% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Wine and Brandy Market: Constellation Brands, E&J Gallo Winery, Torres Wines, Treasury Wine Estates, Vina Concha Y Toro, Pernod Ricard, LVMH, Caviro, Cantine Riunite & CIV and Italiano Vini.

Market Highlights

The Global Wine and Brandy Market is projected to be valued at USD 210.10 Billion by 2034, recording a CAGR of around 5.65% during the forecast period. The global wine and brandy market encompasses the production, distribution, and consumption of wine and brandy worldwide. Wine is an alcoholic beverage produced by fermenting grape juice, while brandy is a distilled alcoholic beverage typically made from fermented fruit juice, often grapes.

The global wine and brandy market is a dynamic and growing industry, with opportunities for both established players and new entrants. The Global Wine and Brandy Market is shaped by evolving consumer preferences, regional traditions, and innovations in production and marketing strategies.

Segmental Analysis

The global Wine and Brandy Market has been segmented based on Type and Application.

Based on Type, the Wine and Brandy Market is segmented into Wine and Brandy. The Wine segment is anticipated to dominate the market.

Based on Application, the global Wine and Brandy Market has been divided into Household and Commercial Use. The Commercial Use segment is anticipated to dominate the market.

Regional Analysis

The Wine and Brandy Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. The U.S. is one of the largest wine markets globally, driven by growing demand for premium wines, particularly from California, Oregon, and Washington. Napa Valley and Sonoma are key wine-producing regions and Consumers in North America, particularly millennials and Gen Z, are driving trends toward organic, sustainable, and low-alcohol wines. The demand for craft spirits is also boosting the premium brandy segment. Europe, especially countries like France, Italy, Spain, and Portugal, is the largest producer and consumer of wine and brandy. The region is known for its rich wine-making traditions and the production of premium, high-quality wines and brandies. While the market is mature in Western Europe, with established consumer bases, there is limited room for rapid growth. However, premiumization and sustainable wine practices are driving innovation in this region. Asia-Pacific is one of the fastest-growing markets for wine and brandy, with rising disposable incomes, urbanization, and changing lifestyles driving demand. China, Japan, South Korea, and India are key markets in the region and China has emerged as a significant market for both wine and brandy. The growing middle class and changing drinking habits have led to increased consumption of imported wines, with French and Australian wines being particularly popular. China is also a growing market for premium brandy, especially cognac. In Latin America, Rising Domestic Consumption: Both domestic consumption and exports are growing, especially in Brazil and Mexico, where wine is becoming increasingly popular among younger consumers. The region’s growing middle class is supporting increased demand for premium products. The Middle East faces regulatory challenges due to alcohol restrictions in many countries. However, in more liberalized markets like the UAE, wine consumption is growing, particularly in the hospitality and tourism sectors. South Africa is a major wine producer, with the Cape Winelands being a well-known wine-producing region. South African wines are gaining international recognition for their quality and value, and the domestic market is also expanding.