By 2027, the global wine market will be worth $528 billion. A figure that cannot be misunderstood!
Text: Marjolein Schuman | Image:
That is what market research firm Research & Markets predicts. In 2022, the wine market was valued at $346.7 billion, so after growing by 8.8 per cent between 2022 and 2027, it will reach $528.2 billion in a few years. In volume terms, that means a whopping 26.7 billion litres of wine in 2027, up from 24 billion litres of wine in 2022. Western Europe will have the largest percentage share in the global wine market, 49.5 per cent of the total, followed by America with a 21.6 per cent share. These figures are part of the recently published report Global Wine Market Size and Opportunities, 2023 update, which collects data and analysis from 107 countries.
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