Wine - United States

The Wine market in United States has experienced significant growth and development in recent years.

Customer preferences: One of the main reasons for the growth in the Wine market in United States is the changing preferences of consumers. Wine is no longer seen as a luxury item reserved for special occasions, but rather as a beverage that can be enjoyed on a daily basis. This shift in consumer preferences has led to an increased demand for a wide variety of wines, from traditional red and white wines to more unique and exotic options.

Trends in the market: One of the key trends in the Wine market in United States is the rise of organic and sustainable wines. Consumers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out wines that are produced using organic and sustainable methods. This trend has led to an increase in the number of wineries adopting organic and sustainable practices, as well as a growing number of organic and sustainable wine options available in the market. Another trend in the Wine market in United States is the growing popularity of wine tourism. Wine regions such as Napa Valley and Sonoma County have become popular tourist destinations, attracting visitors from both within the United States and around the world. This trend has led to an increase in the number of wineries offering tours and tastings, as well as the development of wine-themed events and festivals in these regions.

Local special circumstances: The Wine market in United States is also influenced by local factors such as state regulations and taxes. Each state has its own regulations regarding the sale and distribution of alcohol, which can impact the availability and pricing of wines. Additionally, taxes on alcohol vary from state to state, which can also affect the cost of wines for consumers.

Underlying macroeconomic factors: The growth and development of the Wine market in United States can also be attributed to underlying macroeconomic factors. The United States has a strong economy and a large population, which provides a large consumer base for the wine industry. Additionally, the United States has a well-developed transportation and distribution infrastructure, which allows for the efficient distribution of wines across the country. In conclusion, the Wine market in United States has experienced significant growth and development in recent years, driven by changing consumer preferences, trends such as organic and sustainable wines, the rise of wine tourism, and local factors such as state regulations and taxes. The underlying macroeconomic factors of a strong economy and a well-developed transportation and distribution infrastructure have also contributed to the growth of the market.

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.