The Asia Pacific Wine Market was worth USD 51.36 billion in 2022 and estimated to be growing at a CAGR of 6.2%, to reach USD 69.39 billion by 2028. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.
Market Overview:
Wine comes under the category of affordable luxury items, resulting in many Wine producing companies to launch more types of wines in the market.
The Asia Pacific Wine market is majorly driven by the recent change in lifestyles, increasing habit of consuming liquor, growing disposable income, and rising affordability of Wine. However, some of the restraints hamper the growth of the industry, like heavy taxes, strict regulations by the governments, and health hazards associated with Wine consumption.
Asia Pacific Wine Market Segmentation Analysis:
The Asia Pacific Wine Market is segmented on the basis of taste into dry, medium, and sweet wine. By wine style, wine market can be segmented into still wine, sparkling wine, dessert wine, and fortified wine. The market segment based on colour are red wine, white wine and rose wine.
Region Analysis:
On the basis of geography, the Asia Pacific market is analysed under various regions namely U.K, Germany, France, Spain and Italy. The Asia Pacific Wine Market is expected to show highest growth rate in the future years because of increasing adoption of western trends and hence the trend of drinking liquor.
Key Players in the Market:
Major key players in the Asia Pacific Wine Market are
Some of the major companies dominating the market, by their products are Caviro, Concha y Toro, Constellation Brands, Diageo, E & J Gallo, Grupo Penaflor, and Johnnie Walker.
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