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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.

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