BEVCOMMUNITY

Connect with the local beverage industry. Trade news, trends and insights.

Analysts Report Premium Wine Market Set to Expand

By September 22, 2022Top News

The Global Premium Wine Market was valued at $343.83 million in 2021 and is expected to reach $531.69 million by 2029, registering a compound annual growth rate (CAGR) of 5.60% during the forecast period of 2022 to 2029. A recent report issued by Data Bridge Market Research said that premium wine market drivers will include a rise in the alcohol socialization among consumers, market growth of restaurants and bars, rise in disposal income and the continued emergence of e-commerce platforms. Global consumers benefit from the growth in e-commerce options, including a convenient shopping experience, on-time home delivery and a variety of schemes, which is further contributing to the market growth, showing that the off-trade distribution channel offers the opportunity to impact the CAGR.

« | »