The U.S. wine market is expected to reach USD 85.00 billion by 2025, according to a new report by Grand View Research, Inc. Rising per capita consumption of wine with meals and desserts is expected to drive growth over the forecast period.
Consumers’ access to the product in stores, restaurants, bars, nail salons, bookstores, coffee shops, movie theaters, and car wash & repair shops continues to expand over 5,500,000 locations in the U.S. Furthermore, producers are targeting niche sales channels such as direct-to-consumer sales and tasting rooms, which is expected to drive growth over the forecast period.
Agri-business software offers various industry-specific solutions and application of software to manage administrative tasks, track internal production and sales data, is likely to complement growth. E-commerce and digital marketing tools are the major driving factors owing to the legalization of online sales in the majority of the U.S. states.
The manufacturers compete on the basis of price, which commonly ranges between USD 3 a bottle to USD 15 and above along with a distribution network. The industry is highly competitive, and the product competes with other alcoholic and nonalcoholic beverages for restaurant presence, retailer shelf space, distributor attention, brand recognition and promotions.
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Further key findings from the report suggest:
Table wine accounted for 82.2% of the revenue share in 2017 on account of low Alcohol by Volume (ABV) content and availability of wide varieties of blends including Merlot, cabernet sauvignon, chardonnay, and pinot noir
Sparkling wine is expected to grow at a CAGR of 10.8% over the forecast period owing to low cost of the product, which offers affordable luxury to young consumers celebrating different events throughout the year
Off-trade distribution channel accounted for the largest revenue share in 2017, distributing over 71.3% of the product on account of increasing sales through supermarket chains, liquor stores offering value and variety in their selection
On-trade distribution channel is expected to grow at a CAGR of 4.4% on account of high demand from restaurants and hotels with increasing consumer income, and the rising level of spending at wineries
Companies in the industry are highly competitive, and the major players compete on the basis of wide range of product portfolio, quality, brand names, pricing, and distribution strength; however, small-scale producers depend on distributors for promotional support
Grand View Research has segmented the U.S. wine market on the basis of product and distribution.
Product Outlook (Volume, Million Liters; Revenue, USD Billion; 2014 - 2025)
Distribution Outlook (Volume, Million Liters; Revenue, USD Billion; 2014 - 2025)
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