France Accounted for Highest Consumption of Wine in Western Europe: Ken Research
Ken Research has recently
announced its latest publication “Wine
Consumption Volume and Growth Forecast to 2021”, which aims at providing in-depth market
analysis of wine market of Western Europe. It
provides a top-level overview and detailed insight into the operating
environment for the Wine market in West Europe. It is an essential tool for
companies active across the Wine value chain and for new players that are
considering entering the market. It further aims at providing comprehensive knowledge of the market with key figures on consumption
values for the historic period. It provides information that aids in planning
future business decisions using forecast figures for the market.
Economy
of Western Europe
Many Western European nations covered in this report includes
countries like Austria, Belgium, Denmark,
Finland, France, Germany, Greece, Italy, Netherlands, Norway, Portugal,
Republic of Ireland, Spain, Sweden, Switzerland, and United Kingdom. Many of
these nations like Austria, Belgium, Finland, France, Germany, Greece, Italy,
etc. are also members of euro zone or European Union. Western European nations
including France, United Kingdom, etc. are one of the largest and leading
economies of the world with huge GDP and stable growth rate. Recently, UK
surpassed the growth of France and became the fastest growing and biggest
economy of Western Europe. However, many eminent economies of the western zone
of Europe is falling in trap of recession after 2008. Countries like Spain,
Greece, Portugal, etc. are facing serious economic tribulations including high
debt to GDP ratio, bankruptcy, high unemployment, bank failure, stock market
fiasco, etc.
Historic and current market trends of European wine industry
In the report, wine is considered as a juice of
freshly gathered grapes, vinified according to the customs and traditions of
the country of origin. Wine normally contains between 8-20% Alcohol, but lower
alcohol content can be found in products such as wine coolers which are Still
Light Wine without carbonation or fortification, Wine with carbonation,
Champagne and Made Wine. Europe is
popular worldwide for its tradition of making premium quality handpicked wines.
From Christmas to dinner parties, wine has been an important beverage of European
cultural events since centuries.
Homemade supreme quality of wine was extremely admired in European
culture in medieval era. Even today, obsession for European luxury wines can be
seen worldwide.
Various
recent market trends are listed below:
Ø France and Italy are leading wine producing nations
in Western Europe followed by Spain and Germany.
Ø France has highest per capita consumption of wine.
However, recently consumption is falling due to export led policy of
government.
Ø Red wine is the sub-sector with highest demand.
Ø Per capita consumption of wine is rising across
Western Europe. Demand for locally produced fresh wines is highest.
Ø Both exports of wine from Western Europe and import
of wine is increasing.
This ever increasing demand for wine is because of various
factors:
v Strong economic growth
Many economies of Western Europe like UK, France, Germany, etc.
are global economic leaders. Rise in GDP and rising growth rates has led to
ever increasing demand for wines in Western Europe.There is rise in income of
middle class who are prime consumer of wines in Europe. Thus, consumption of high quality luxury
wines is rising laden to expansion of European wine industry.
v New channels of sales and distribution
Unlike earlier times many new channels of wine sales have been
introduced including hypermarkets, supermarkets, pubs, café, bars, specialized
retailers and wholesalers, etc. which is making wine more accessible and easily
available laden to rise in per capita consumption of wine.
v Significance of wine in European culture’
Wine has notable importance in European culture since wine
toasting is an essential traditional practice to rejoice every prestigious
family gathering in Europe. Moreover, fancy and luxury wines are considered as
status symbol which is creating huge market for such wines.
Thus key drivers in European wine industry are:
v New channels of sales and distribution
v Significance of wine in European culture’
v Strong economic growth
Leading market players
Major market players in wine making industry of Western Europe
include BodegesIrache, Greek Wine, Moncaro, The Wine Cellers, Maggi Francesco,
CavadosBoulard, etc. All these major companies are producing finest and superb
quality of wines. Further, they are focusing on innovation to not only improve
demand domestically but globally too.
Key topics
covered
§ Current economic scenario of
Western Europe
§ Overall market value and volume data with growth analysis of wine
industry to 2021.
§ Detailed insight into the operating environment for the wine
market in West Europe.
§ The quantitative data in the report
provides historic and forecast Wine consumption data by country in Volume (M
Liters).
§ Leading wine producing nations in Western Europe
Conclusion
Though Western Europe has significant demand-led expansion of
wine industry but there are many factors which may constraint enlargement of
wine industry. Recession in many nations after 2009, rising health awareness
and obesity, rising prices of wines, etc. are chief reasons that are
restricting expansion of wine industry in Western Europe.
For
more coverage click on the link below:
Related
Reports
Contact:
Ken Research
Ankur
Gupta, Head Marketing & Communications
+91-124-4230204
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