Craft Wine Market Size to Reach USD 48.77 Billion by 2027; Rising Demand for Exotic and Innovative Products to Aid Growth, Says Fortune Business Insights™

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Pune, India, Dec. 18, 2020 (GLOBE NEWSWIRE) — The global craft wine market size is set to gain traction from the increasing need to develop exotic and innovative products by infusing various ingredients in wine. This information is given by Fortune Business Insights™ in a new study, titled, “Craft Wine Market Size, Share & COVID-19 Impact Analysis, By Type (Sparkling Wine, Still Wine, and Others), Flavor (Red Wine, White Wine, and Rose Wine), Distribution Channel (On-trade and Off-trade), and Regional Forecast, 2020 – 2027.” The study further mentions that the market size stood at USD 35.39 billion in 2019 and is projected to reach USD 48.77 billion by the end of 2027, exhibiting a CAGR of 4.4% in the forecast period.

COVID-19 Pandemic: Shutdown of Bars and Taprooms to Affect Growth Negatively

The COVID-19 pandemic has resulted in the shutdown of various bars, restaurants, wineries, and taprooms across the globe because of stringent norms, such as lockdown and social distancing by governments. But, supermarkets and e-commerce platforms are offering home delivery services of craft wine and other alcoholic beverages in many countries. The market is set to gain momentum in a few more months.

Get Sample PDF Brochure with Impact of COVID19:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/craft-wine-market-102262


List of the Leading Companies Profiled in the Global Craft Wine Market are:

  • A Blooming Hill Vineyard & Winery (United States)
  • Chateau Niagara Winery (United States)
  • ALDI Inc. (Essen, Germany)
  • House of Saka (California, United States)
  • Koi Zen Cellars (United States)
  • LGI Wines (France)
  • Auscraft Wine (Australia)
  • CRFT Wines (Australia)
  • Clover Hill Wines (Australia)
  • Scotch Church Road Vineyard (United States)


How Did We Develop This Report?

We have conducted extensive primary and secondary research to collect all the information required for this report. Some of our authentic sources include Food Processing & Certification Bodies, the Organization for Economic Co-operation and Development, Codex Alimentarius, Institute of Food Technologists, Eurostat, and others. In addition to that, we have gathered information from press releases, reports, and websites of end-user facilities, especially food service providers and manufacturers.


Drivers & Restraints

Increasing Usage of E-commerce Channels to Bolster Growth

Consumers nowadays are rapidly inclining towards beverages that have unique taste and are sophisticated. The International Wines and Spirits Record (U.K.) states that in the U.S., the consumption of premium-and-above wine surged by more than …

Full story available on Benzinga.com

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