Organic Wine Market Growth Solid at 10.7% CAGR to Exceed
Pune, India., May 10, 2021 (GLOBE NEWSWIRE) – Organic wine market: key information
According to our new research study on “Organic Wine Market to 2027 – Global Analysis and Forecast – by Packaging, Product Type and Distribution Channel ”, the Size of the organic wine market was valued at US $ 7,460.29 million in 2019 and is expected to reach US $ 16,647.81 million by 2027; it is expected to grow at a CAGR of 10.7% during 2020-2027.
Organic wine market: competitive landscape and key developments
Some of the major players operating in the global organic wine market are B Avondale, The Organic Wine Company, Bronco Wine Company, King Estate Winery and Emiliana; the Sherwin-Williams Company; Zircotec; and Hardide plc. Major market players are implementing strategies like product launches, approvals and collaborations for their growth. They are highly focused on developing and offering innovative and high quality products to meet customers’ requirements. For example, in June 2019, King Estate Winery introduced Inscription Pinot Noir.
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In 2019, Europe held the largest share of the global organic wine market. The market in this region is mature and well established. Western European countries are known for their higher standard of living, with people having higher income levels. They are also among the richest countries in the region, with a higher gross domestic product (GDP) per capita than other countries. The transformation of lifestyle trends, which influence food and drink consumption habits, is contributing to the growth of the organic wine market in Europe. The market is also driven by the shift in consumer preference towards organic products due to the high purchasing power and growing awareness of the long term benefits of organic wine.
Organic wine is produced from grapes grown without artificial fertilizers or harmful chemicals. Organic grapes are grown in accordance with the principles of organic farming, which generally exclude the use of artificial chemical fertilizers, pesticides, fungicides and herbicides. They are able to better retain essential nutrients. Organic wine is free from additives such as sulfur, yeast nutrients and fining and is produced using yeasts native to the fruit. The occupation of organic vineyards has almost tripled across the world, with the cultivated area increasing from 88,000 hectares in 2004 to 256,000 hectares in 2011. According to the Institute for Research in Organic Agriculture (FiBL), Spain is considered as one of the biggest contributors to production. and the consumption of organic wine, which is mainly attributed to the enormous growth of several large cooperatives in Castile-La Mancha. In the country, organic grape farming covers around 80,000 hectares of land. Apart from this, France, Italy, the United States, Turkey and Germany are other major contributors to the global production of organic grapes; they are also known to have a large number of organic vineyards.
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Organic wine market: segmental overview
Based on packaging, the organic wine market is segmented into plastic bottles, glass bottles, cans and others. Glass bottles have been a traditional way of packaging organic wine. However, the advantages of plastic bottles, such as ease and convenience of handling, add to their demand for organic wine packaging. Many companies in the organic wine industry are focusing on the use of PET bottles for packaging organic wine. Bronco Wine Co. is one of the companies that made a major packaging change from glass to plastic to capitalize on durability, lightness, shatter resistance and the potential use of PET in new applications, all enabling it to further develop its activities in the retail and air transport segments. Additionally, cans have the potential to be an environmentally friendly packaging medium for years to come. Based on the type of product, the organic wine market is divided into organic red wine and organic white wine.
Impact of the COVID-19 pandemic on the organic wine market
In April 2021, India, Brazil, Russia, China, Italy, Iran, Spain, Republic of Korea, France, Germany and the United States were among the most affected in terms of COVID-19 cases and deaths. According to the latest WHO figures, around 141,754,944 confirmed cases and around 3,025,835 total deaths have been reported worldwide. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans and business closures. The food and beverage industry is suffering from serious disruptions such as supply chain disruptions, cancellations of tech events and office closures due to this outbreak. The closure of factories and factories in various countries affects global supply chains and negatively impacts manufacturing, delivery schedules and sales activities. Various companies have already announced possible delays in product deliveries and a decline in future sales of their products. In addition, global travel bans imposed by countries in Europe, Asia and North America affect business collaborations and partnership opportunities. These factors are holding back the growth of various markets related to the food and beverage industry.
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