Wine - Europe

The Wine market in Europe is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: In recent years, there has been a notable shift in customer preferences in the Wine market in Europe. Consumers are increasingly seeking high-quality wines that offer unique flavors and experiences. This has led to a growing demand for premium and boutique wines, as well as wines from specific regions and vineyards. Additionally, there is a rising interest in organic and sustainable wines, as customers become more conscious of the environmental impact of their choices.

Trends in the market: One of the key trends in the Wine market in Europe is the increasing popularity of sparkling wines, particularly Prosecco and Champagne. These effervescent wines are seen as a celebratory drink and are often associated with special occasions. The trend towards sparkling wines is driven by their refreshing taste, versatility, and the rise of social drinking culture. Another trend is the growing demand for rosé wines, which have become a popular choice among younger consumers. Rosé wines are known for their light and fruity flavors, making them a refreshing option for summer gatherings and outdoor events.

Local special circumstances: The Wine market in Europe is influenced by the unique characteristics and traditions of each country and region. For example, in France, the wine industry is deeply rooted in the country's history and culture. French wines are renowned for their quality and are often associated with sophistication and elegance. In Italy, wine is an integral part of the culinary tradition, with each region producing its own distinct varieties. In Spain, wine is a significant part of the social fabric, with tapas and wine tastings being popular social activities. These local special circumstances contribute to the diversity and richness of the Wine market in Europe.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the Wine market in Europe. Economic growth and increasing disposable income levels have resulted in a higher demand for premium wines, as consumers are willing to spend more on indulgent experiences. Additionally, the growing tourism industry in Europe has played a significant role in boosting the Wine market, as tourists often seek out local wines and vineyard tours as part of their travel experiences. Furthermore, the globalization of the wine industry has opened up new markets and opportunities for European wine producers, leading to increased exports and international recognition. Overall, the Wine market in Europe is evolving to meet the changing preferences of customers, with a focus on high-quality wines, sparkling wines, and rosé wines. The local special circumstances and underlying macroeconomic factors further contribute to the growth and development of the market. As the Wine market in Europe continues to expand, it presents opportunities for both established and emerging wine producers to thrive in this dynamic and diverse industry.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.