After experiencing mild growth as a result of various trends across the world, the global wine industry is currently worth $332billion and is projected to keep growing at a rate of 2.4 percent, according to a report
by IBISWorld. The wine market is huge and growing rapidly, driven by a growing interest in wine
from Millenials across the globe and countries that were not traditionally associated with wine, particularly the US and, more recently, China. The industry has gone through many twists and turns in recent years, driven by various trends that affect the way wine is produced, packaged, transported to the buyer, and finally, consumed.
New wine packaging options
The wine bottle has always been the most recognisable way in which wine is packaged, but it’s no longer the only way. As more consumers choose to drink their wines at home, at private social functions and at work, there is a growing demand for other types of packaging that offer more convenience and portability to cater to the needs of different consumers. For instance, bag-in-box wine is so popular now that even premium brands are selling 3-litre and 1.5-litre versions. People no longer consider canned wine a fad, after its strong growth rates in recent years. Other types of packaging, such as tetra packs and mini bottles, are also capturing the attention of younger wine consumers. The global push towards sustainability has also resulted in the rise of more eco-friendly packaging options
, such as recycled plastics.
While alcohol consumption has been on the decline among young consumers in recent years, there has been a rise in the popularity of cannabis-infused drinks, especially in the US and other countries where cannabis is legal. As a result, wine manufacturers have also started making cannabis-infused wines for the growing number of consumers. However, as a result of laws prohibiting cannabinoids from being combined with alcoholic beverages, such wines are non-alcoholic.
Technology in wine shopping
Wine shopping is now easier and faster than ever before, thanks to wine shopping technology that is making it possible for the average consumer to buy great wines from various corners of the globe. Thanks to this technology, wine consumers have access to thousands of wine brands from different origins
and at various price points. For example, Amazon has a huge selection of both alcoholic and non-alcoholic wines from different parts of the world that you can buy and have delivered to your doorstep without leaving your home. Similarly, if you are a fan of Australian wines, you can buy red wine on the Qantas store
and enjoy amazing wines from some of the best vineyards in Australia. This technology has enabled wine connoisseurs to explore more options, which ultimately drives sales.
The consumer demand for plant-based food and drinks
has skyrocketed recently, and wine has not been left behind. During the traditional wine-making process, some animal-based products like egg whites and certain fish products are used to clarify the wine before bottling. To respond to the growing demand for vegan products, wine manufacturers are switching these animal-based wine-making essentials with non-animal agents like clay-based bentonite. Many supermarkets and online wine retailers are already hopping on this trend and providing many vegan wine options for their customers.
The wine industry will keep evolving as the years come and go, driven by these and other emerging trends. Whether you are a wine manufacturer, seller, or consumer, you need to keep an eye on such trends so that you always make more informed wine decisions.