The global wine market in 2024 is worth USD 401 billion and is projected to grow to USD 605 billion by 2032, with a 5.5% CAGR.
Our figures are based on our analysis of five different market research reports. Our confidence in these figures is moderate due to the converging nature of the estimates. A detailed description of our analysis methods is provided below.
Market Size and Growth Metrics
Current Size and Growth Projections
As of 2024, the global wine market is valued at about USD 401 billion. Looking ahead, the market is expected to grow at a CAGR of 5.5%, reaching USD 605 billion by 2032.
This growth is driven by increasing global demand and evolving consumer preferences towards sustainable and innovative wine options.
Major Market Segmentation
By Product Type
- Still Wines accounts for approximately 75% of the global wine market share in 2024. It’s valued at around $340.08 billion in 2023, with projections indicating continued dominance through 2024 and beyond.
- Sparkling Wines represents about 15% of the market, showing a growth rate of 4.9% in 2024. It has increasing popularity among younger consumers, particularly in celebratory contexts.
- Fortified Wines comprises roughly 10% of the market. It has notable growth in niche markets, with a focus on products like Port and Sherry.
By Region
- Europe: Dominates wine production with 45% of the global market share, led by:
- Italy: Producing approximately 4.25 million liters annually.
- France: Estimated production of 3.64 million liters, with a market size of $12.4 billion in 2024.
- Spain: Producing about 3.25 million liters, with a market size expected to reach $2.4 billion.
- United States: The second-largest producer, with a production of 2.33 million liters and a market size projected at $39 billion in 2024.
- Asia-Pacific: Rapidly emerging region, with a CAGR of 7.2% projected. China is increasingly significant, with wine consumption growing by 10% annually.
- South America: Notable growth in countries like Argentina and Chile, with Argentina producing approximately 1.18 million liters and Chile around 949,200 liters, both showing strong market expansion.
- Middle East and Africa: Representing a smaller segment, but with a CAGR of 6%, indicating growing interest in wine consumption.
By Price Point
- Economy Wines comprise roughly 60% of the market, but growth is slowing as consumers shift towards higher quality options.
- Mid-Range Wines account for about 25% of the market, with a growth rate of 4% as consumers seek better value.
- Luxury Wines represent around 15% of the market, with a robust growth rate of 7% in 2024, driven by affluent consumers and premium offerings.
Industry Trends and Dynamics
E-commerce and Direct-to-Consumer Trends
The e-commerce segment of the wine market is projected to reach $4.83 billion in 2024, marking a 5% increase from 2023.
The projected CAGR for the e-commerce wine market from 2024 to 2029 is 4.12%, with expected revenue of $5.91 billion by 2029.
The number of wine e-commerce users is anticipated to reach 266.7 million globally by 2029, with user penetration increasing from 3.0% in 2024 to 3.6% by 2029.
The average revenue per user (ARPU) in the e-commerce wine market is expected to be approximately $25.38 in 2024.
Health-Conscious Trends
Sales of organic wines are projected to grow at a CAGR of 10.8% from 2021 to 2028, reflecting increasing consumer demand for healthier options.
Wines with reduced sulfites and sugar are becoming more popular, with 68% of consumers actively seeking these products. The low-alcohol and alcohol-free wine segment is expected to grow at a CAGR of 7.1% from 2021 to 2028, driven by health-conscious trends among younger consumers.
Industry Drivers and Challenges
Climate Change Impact on Wine Production
A study published in the Proceedings of the National Academy of Sciences found that if temperatures rise by 2°C (3.6°F), viable wine-growing regions could shrink by more than half. France saw its smallest wine harvest since 1957 in 2021, costing the industry around €2 billion ($2.1 billion) in sales. The California wildfires of 2020 destroyed vineyards and made wines undrinkable due to smoke taint, affecting production in the region.
Extreme weather events like droughts, heatwaves, and heavy rainfall are becoming more frequent, causing significant damage to vineyards and disrupting production. Winemakers are adapting by planting vineyards at higher altitudes, using drought-resistant grape varieties, and implementing regenerative agriculture practices
Changing Consumer Demographics
Millennials and Gen Z consumers are driving the demand for organic, sustainable, and low-alcohol wines, presenting both challenges and opportunities for the industry. Sales of organic wines grew by 12% in 2024, reflecting the increasing preference for environmentally-friendly products among younger consumers. The low-alcohol and alcohol-free wine segment expanded by 8% in 2024, particularly among health-conscious millennials and Gen Z. Wineries are innovating to cater to evolving consumer preferences, such as producing wines with reduced sugar and sulfites, and using alternative packaging like cans.
Consumer Insights
Per Capita Consumption
Global per capita wine consumption was approximately 2.4 gallons in 2024, a slight decrease from 2.5 gallons in 2023. The United States maintained its position as the largest wine consumer, with per capita consumption of 2.9 gallons in 2024. China’s per capita wine consumption reached 1.1 gallons in 2024, reflecting a steady increase in recent years. Per capita wine consumption in Europe varied, with France at 3.8 gallons, Italy at 3.1 gallons, and Germany at 1.7 gallons in 2024.
Shifts in Consumer Preferences
Organic wine sales grew by 12% in 2024, with younger consumers driving the demand for sustainable and ethically sourced wines. 68% of wine consumers now seek lower sulfite options, citing health concerns as the primary reason. 54% of consumers prefer wines with reduced sugar content, aligning with the broader trend of health-conscious choices in beverage consumption. The low-alcohol and alcohol-free wine segment grew by 8% in 2024, particularly among health-conscious millennials and Gen Z consumers. The canned wine market expanded by 15% in 2024, reflecting the increasing popularity of convenient and portable wine options.
Conclusion
In 2024, the global wine market is valued at USD 401 billion and is projected to reach USD 605 Billion by 2032, with a 5.5% CAGR. Key takeaways include:
- Still Wine Dominance: Still wines lead the market, holding 75% of the share, with luxury wines growing rapidly at 7% annually.
- Regional Trends: Europe, particularly Italy, France, and Spain, remains a production powerhouse, while the Asia-Pacific region, led by China, is emerging with a 7.2% CAGR.
- E-commerce Growth: Online wine sales are expected to reach $5.91 billion by 2029, with user penetration expanding globally.
- Health-Conscious Choices: There’s a rising demand for organic and low-alcohol wines, with organic sales up 12% in 2024, driven by younger, health-conscious consumers.
- Climate Impact: Climate change challenges are pushing the industry to adapt, with innovations in vineyard practices to counteract extreme weather.
The global wine market is evolving rapidly, with growth driven by premiumization, regional shifts, and changing consumer preferences, necessitating ongoing innovation and adaptability.
References and Data Sources
How did we analyze our Sources?
To gain a complete understanding of the global wine market, we’ve analyzed data from five different market research reports. Using our own weighted criteria, we selected the top three reports with the highest scores and based our estimate on their findings.
| WINE Analysis | Statista | Global Data | IMARC Group | Businesswire | Maximize Market Research | SUMMARY |
| Published Date | Jul 15, 2024 | 2023 | 2023 | May 17, 2024 | May 2024 | |
| Market Captured | Combined | – | Combined | Combined | Combined | |
| Current 2024 market size | $339B | $354B* | $509B* | $403B* | $462B* | Combined – $401B |
| Future market size | – | $447B by 2028 | $762B by 2032 | $528.3B by 2030 | $643.5B |
Combined – $605B by 2032
|
| CAGR | – | 6% (2023-2028) | 5.1% (2024-2032) | 4.6% (2023-2030) | 5.7% (2024-2030) |
5.5% (2024-2032)
|
Please note: Data marked with * is estimated based on original sources.
How did we grade our Sources?
| Score | WINE Analysis | Statista | Global Data | IMARC Group | Businesswire | Maximize Market Research | SUMMARY |
| 3 | – Criteria 1: Clear Source | 0 | 0 | 0 | 0 | 0 | |
| 2 | – Criteria 2: Recency | 1 | 0 | 0 | 1 | 1 | |
| 4 | – Criteria 3: Authority | 0 | 0 | 0 | 0 | 0 | |
| 1 | – Criteria 4: Objective & Clear | 1 | 1 | 1 | 0 | 0 | |
| SOURCE GRADE | 3 | 1 | 1 | 2 | 2 | 1.67 |
- 4 = Highly useful, clear, and resistant to manipulation
- 0 = Provides no indication of reliability
| 3 | – Criteria 1: Clear Source Citation | +1 IF: Clearly states where they got the data from. |
| 2 | – Criteria 2: Recency | +1 IF: published or updated the last 3mo. |
| 4 | – Criteria 3: Authority | +1 IF: Govt Agency, Academic Institution, Academic Paper
+1 IF anything else.
|
| 1 | – Criteria 4: Objective & Clear |
+1 IF: The information presented without emotional wording or bias, states the facts cleanly and clearly.
+0.5 IF one of the above.
|
How did we determine our Market Size?
Understanding the market’s direction can be challenging based on these estimates.
However, we are moderately confident in our projections. Two are closely aligned, while the 3rd estimate, IMARC Group, is higher, but it still fits within the overall growth trend.
We encourage you to critically assess the data and consider various perspectives to form your own insights into the future of the coffee market.
Nathan has always been captivated by numbers and patterns. With a Master’s degree in Statistics, he’s honed his skills to decipher complex data sets and discern market trends.
Over the past decade, Nathan has worked with various firms compiling and analyzing industry spending figures to forecast market movements.