Organic Wine Market Size Is Poised To Reach .5 Billion By 2030: Grand View Research Inc.Posted by Mrudula Anil Karmarkar on March 12th, 2024 San Francisco, 12 March 2024: The Report Organic Wine Market Size, Share & Trends Analysis Report By Type (Red Organic Wine, White Organic Wine), By Distribution Channel (On-trade, Off-trade), By Region, And Segment Forecasts, 2022 - 2030 The global organic wine market size is anticipated to reach USD 21.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.2% from 2022 to 2030. The market is predominantly driven by the rising awareness regarding health among consumers across the globe. The demand for organic products is increasing at a fast pace. Consumers are spending more on chemical-free and organic products mainly in North America and Europe. According to Organic Trade Association (OTA), 75 million millennials in America are consuming organic food and drinks. Parents in the age group 18 to 34 years are the largest group of organic buyers in the U.S. According to OTA, organic food sales surpassed USD 56.0 billion in 2020, 12.8% up from the previous year’s sales. This growth of organic products is expected to drive the market globally. Wine has become an important part of many European cultures and is considered a standard accompaniment at dinner and lunch. As per the study conducted by the ChaireVins et Spiritueux de INSEEC U and the European Association of Wine Economists in 2020, the consumption frequency of wine has risen remarkably during the home isolation period due to the Coronavirus outbreak in Spain and other countries in Europe The outbreak of Coronavirus disrupted the global organic wine supply chain and distribution channel owing to the closure and restrictions on bars, restaurants, and hotels globally. According to the 2020 ProWein Business Report, the COVID-19 affected around 77% of hotels, with turnover declining by 60% across the sector, while restaurants saw sales decline by 91% by the end of 2020. However, in many regions, the wine market has extremely benefited from the lockdown and travel restrictions. Consumers enjoyed wine across a broader range of at-home occasions. For instance, according to Wine Intelligence, the wine market of Brazil gained approximately three million regular wine drinkers (which is at least once a month) between 2023 and 2020. The market growth is driven by the shifting consumer behavior patterns for food and beverages across the world. The outbreak of Coronavirus disrupted the global organic wine supply chain and distribution channel owing to the closure and restrictions on bars, restaurants, and hotels globally. According to the 2020 ProWein Business Report, the COVID-19 affected around 77% of hotels, with turnover declining by 60% across the sector, while restaurants saw sales decline by 91% by the end of 2020. Request sample report of Organic Wine Market@https://www.grandviewresearch.com/industry-analysis/organic-wine-market-report/request/rs1 However, in many regions, the wine market has extremely benefited from the lockdown and travel restrictions. Consumers enjoyed wine across a broader range of at-home occasions. For instance, according to Wine Intelligence, the wine market of Brazil gained approximately three million regular wine drinkers (which is at least once a month) between 2023 and 2020. Organic products demand is growing globally which has a significant impact on the wine market. Red organic wine and white organic wine are two major types in the market. Red organic wines witness high popularity among consumers owing to their health benefits and availability. Thus, the market penetration of red organic wines is higher than other types. Organic Wine Market Report Highlights
Organic wines have gained significant penetration globally. Their popularity is owed to its health benefits, along with fine taste. E-commerce or online retail have made it accessible to consumers across various parts of the world. The consumption of conventional wine seems to be tailing off around the world gradually. However, the enthusiasm for organic wines is widespread. European countries dominated the market particularly among the millennials (20 to 35 years), a generation that is extremely aware of environmental and social values. In 2023, SOWINE, a France based marketing and communication company, conducted a survey in New York and Paris to understand the wine expectations of residents. The survey showed that around 52% of New York residents and 68% of Paris residents are more sensitive to the environmentally-friendly approach. The survey also showed that the consumers in the 21-35 age group buy “responsible” wine on a regular basis (22% in New York and 35% in Paris) than the older generation (15% in New York and 30% in Paris). Organic Wine Market Report Scope
The production cost of organic wine is comparatively higher than conventional wines. Organic wines are produced from natural and organically grown grapes. The vineyards require organic certification and proper maintenance during the cultivation of wine grapes. In addition, the organic certified vineyards do not use any chemicals or agrochemicals to increase yield and production. Thus, it takes more time for the maturity and ripening of the grapes. Moreover, it requires natural yeasts for the fermentation which is costlier than the wild and regular yeasts. All these factors increase the production cost of organic wine which resulted in the high price of organic wines. List of Key Players of Organic Wine Market
Like it? Share it!More by this author |