White Wine Market to Pave Path for Augmented Revenue during the Period between 2017-2022
According to Fact.MR, the global market for white wine is expected to grow at a sluggish pace, procuring a little over US$ 46 Bn revenues by the end of forecast period, 2017-2022.
[ClickPress, Mon Apr 15 2019] 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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A typical white wine is straw-yellow in color, but some variants are also available in the shades of yellow-green or yellow gold. In the production of white wine, non-colored pulp of grapes are fermented with alcohol. The first white wine can be dated back to at least 2500 years. In many cultures, white wine is used as an aperitif during the meal, between meals, and with dessert.
According to Fact.MR, the global white wine market is expected to grow at a sluggish pace, procuring a little over US$ 46 Bn revenues by the end of forecast period, 2017-2022.
Consumers to Remain More Indulged in Riesling White Wine
While the overall market for white wine is anticipated to witness sluggish growth at less than 3.5% CAGR, manufacturers are still counting on product quality to improve their market standings. Companies are shifting their focus towards production of Riesling wines. In 2017, close to one-fifth share of global revenues is expected to come from sales of Riesling white wines. On the other hand, Gewürztraminer and Chardonnay will be two key products in the global white wines market that will showcase around 10% share on global revenues, individually, through 2022.
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Modern Trade Sales of White Wine indicate High Preference to the Semi-Sweet Taste
During the forecast period, modern trade outlets will be observed as largest sales channel for white wine in the global market. By procuring more than one-third share on global revenues, manufacturers will be directing a majority of their products to modern trade outlets. Sales estimations compiled in the report also indicate a high preference for semi-sweet taste among white wine consumers. By 2022, more than US$ 17.8 Bn worth of white wine will have a semi-sweet taste. Following this is the dry-tasting white wine, which will also witness considerable revenue share in the global market through 2022.
Companies such as Constellation Brands, Inc., Diageo Plc., E&J Gallo Winery, Viña Concha y Toro SA, Caviro, The Wine Group, Grupo Peñaflor S.A., Casella Family Brands, Accolade Wines Australia Limited, and Treasury Wine Estates are expected to remain active in expansion of global white wine market through 2022.
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