Future Growth of Wine Industry 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.
Overview of wine industry 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. This economic
prosperity is also leading to sky rocketing of demand of luxury wines in
Western Europe.
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. 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.
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.
Key
drivers in wine market of Western Europe
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
Future
of wine industry
In past few years wine industry has seen a major growth with
soaring demand, expanding production and supernormal profits. 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.
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. this is a huge threat to the growing wine industry of Europe.
For
more coverage click on the link below:
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Reports
Contact:
Ken Research
Ankur
Gupta, Head Marketing & Communications
+91-124-4230204
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