The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Wine Market to Reach $528.3 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Wine estimated at US$379.2 Billion in the year 2022, is projected to reach a revised size of US$528.3 Billion by 2030, growing at aCAGR of 4.2% over the period 2022-2030. Still Wine, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$273.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Sparkling Wine segment is readjusted to a revised 4.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $103.3 Billion, While China is Forecast to Grow at 7.8% CAGR
The Wine market in the U.S. is estimated at US$103.3 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$116 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.6% and 2.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
In vineyards, sustainable practices should mean a clearer expression of terroir alongside a desire among winemakers to take the peddle off the winemaking toolkit. Honest wines offer an unadulterated expression of the natural features of the grape or region. We’re seeing this more and more in Australia and in Spain (with garnacha and in Rioja), but the real standard-bearer of this style is Beaujolais where the different terroirs of the region are beautifully expressed through the lens of just one grape, gamay.
Which countries drink the most wine?
Climate is also having an impact on personal preferences when it comes to the taste of wine too. Hotter temperatures are leading consumers to seek wines with higher acidity for extra refreshment, while, in some places, colder winters are seeing people demand the more mellow, mature flavours of aged wines.
Wine and health
With people showing a renewed focus on leading a healthy lifestyle, expecting to see increased demand for wines with fewer calories, such as with ultra-brut styles of sparkling wine. It’s unclear where de-alcoholised wine will be by 2030, but I imagine new technology that retains flavour and texture without the need for residual sugar won’t be too far around the corner. People are also consuming less meat, vegetarian and vegan diets are on the increase and wine styles will need to adapt to changes in eating habits too.
We've all heard the claim that having a glass of red wine every night is the secret to living longer, but is red wine really healthy? Researchers continue to debate this age-old question, and there are studies to support both sides of the argument.
Some studies found that red wine consumed in moderation may reduce heart disease risks and protect against cognitive decline.1 But a new systematic review published in the journal JAMA Network Open suggests that “moderate” drinkers do not have a lower risk of death than non-drinkers.2
The new study didn't focus only on red wine consumption, but health benefits from any low-volume alcohol use are "highly questionable," according to Jinhui Zhao, PhD, a co-author of the study and a scientist at the Canadian Institute for Substance Use Research.
"The main ingredient of all alcohol products—including beer, wine, and spirit—is ethanol and its metabolized product, which play the same role in causing harm on the human body
Wine will be wine and it will be part of life- sick or not- people will drink-
