Revenue of the wine market worldwide by country 2018
Wine is an integral part of some cultures while is ignored in others, especially Asia and sub-Saharan Africa, with the notable exception of South Africa. However, over the years, the emergence of advanced distribution networks and innovative flavours, has resulted in it becoming more popular globally. The global wine market has witnessed steady growth over the years and was valued at 354.7 billion U.S. dollars in 2018. It is projected to grow 21 percent by 2023 to value over 429 billion U.S. dollars.
Although the U.S may not be the highest producer of wine, it surely is the largest market by far in terms of revenue generated, indicating a higher share of imports. The U.S. market was valued at 47.8 billion U.S. dollars in 2018, followed by France and Italy with revenues of 27.4 billion U.S. dollars and 26.1 billion U.S. dollars respectively.
Table wine, the most preferred
Table wine, was the most preferred by consumers in the U.S, in 2018. This was followed by sparkling and fortified wine. Most of the wines sold in the market were off-premise.
Although the U.S may not be the highest producer of wine, it surely is the largest market by far in terms of revenue generated, indicating a higher share of imports. The U.S. market was valued at 47.8 billion U.S. dollars in 2018, followed by France and Italy with revenues of 27.4 billion U.S. dollars and 26.1 billion U.S. dollars respectively.
Table wine, the most preferred
Table wine, was the most preferred by consumers in the U.S, in 2018. This was followed by sparkling and fortified wine. Most of the wines sold in the market were off-premise.
