According to some research conducted by Fact Market Research, white wine will grow significantly in the next decade.
“The growth of white wine, on the global consumer market, is impetuous and will not stop at least for the next decade”.
According to the White Wine Market report, in fact, between now and 2031 the white wine segment will see an average annual growth of 5%, reaching 60 billion dollars in value. Already in 2022 it is estimated that this market will generate a total value of about 46 billion dollars. “After all, even from 2016 to 2020 the growth has been prodigious, white wines exceed 35 billion euros: only the pandemic has slowed down the race, immediately resumed in this 2021”.
White wines are becoming increasingly appreciated all over the world, starting with Europe where by 2031 wine consumption will be accounted for by over 50% of this segment. Really interesting estimates are also expected for the United States and Asia; the latter in 10 years will be worth 35% of the global white wine consumption market. The markets to monitor, given the openness and greater appreciation of whites, are Japan, Vietnam and China.
The factors that are favoring the growth of this segment are various, first of all the great simplicity of approach and consumption. White wines also have a greater versatility than reds and an excellent quality/price ratio. It must also be considered that the female consumption basin of this type is increasing more and more, especially in reference to consumption occasions such as aperitifs and after dinners.
“If the big numbers are made by a handful of international denominations (the turnover of Chardonnay in 2022 will reach 6 billion dollars and in 2031 Riesling will represent a fifth of consumption), the prospects for Italian productions, mostly linked to indigenous varieties, however, are in line with the forecasts of the White Wine Market report”.
The complete Wine News article is available here.