Organic Wine Market Size Hit USD 24,557.14 million by 2028 Registering at a CAGR of 12.0% Says, The Insight Partners

The organic wine market is projected to reach US$ 24,557.14 million by 2028 from US$ 12,471.20 million in 2022.

NEW YORK, UNITED STATES, October 27, 2022 /EINPresswire.com/ -- According to The Insight Partners latest market study, titled “Organic Wine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Packaging Type, and Distribution Channel,” the market is expected to grow from US$ 12,471.20 million in 2022 to US$ 24,557.14 million by 2028; it is estimated to grow at a CAGR of 12.0% from 2022 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the organic wine market.

Organic wine is made by growing grapes without the use of hazardous chemicals or artificial fertilizers. Amid growing health concerns amongst the consumer and increasing focus on healthy living organic wine consumption is gaining traction. As a result, the growing demand for organic wine has boosted the number of organic vineyards. For example, globally 7 million hectares of winegrowing are surveyed, 6.7% is cultivated using organic farming production method, for total extension in 2019 reached about 500,00 hectares Spain is also one of the main regions that contributes significantly to the production and consumption of organic wine, according to the Research Institute of Organic Agriculture. France, Italy, the United States, Turkey, and Germany are among the other major economies that contribute significantly to the production of organic grapes and wineries.

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Organic Wine Market: Competitive Landscape and Key Developments

Avondale, Elgin Ridge Wines, Kendall-Jackson, The Organic Wine Company, Bronco Wine Company, King Estate Winery, Grgich Hills Estate, Emiliana Organic Vineyards, Società Agricola Querciabella Spa, and Frey Vineyards are the key players operating in the global organic wine market. These companies provide a wide range of product portfolios for the market. They have a global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.

Climate change, good government policies, and a focus on sustainable farming are just a few of the significant factors driving the organic wine market worldwide. Furthermore, the demand for organic wine has been spurred by an increase in the population desiring healthier beverage options, as well as an increase in disposable money. Organic food is in high demand in developed countries.

The demand for organic wine is significantly rising due to the convenience they offer to consumers. The organic wine market is driven by the rising number of consumers with a growing sense of awareness of sustainable products. Organic wines are mostly available in supermarkets, hypermarkets, specialty stores, and direct selling, which constitutes a significant market share in the distribution channel segment. The expanding direct selling distribution channels are another factor behind the rising sales of organic wine. Moreover, with the continuous economic growth of China, the purchasing power of consumers has increased. These consumers are willing to pay more for high-quality products that contain organic ingredients. Many market players have attempted to expand their business and become market leaders by establishing their online presence. Therefore, online retail shows considerable potential as the number of consumers with strong purchasing power is growing.

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Impact of COVID-19 Pandemic on Organic Wine Market

The COVID-19 pandemic had initially affected the global organic wine market due to the shutdown of manufacturing units, rising prices of raw materials, shortage of labor, disruption of supply chains, and financial instability. Organic wine is a part of the beverages industry. The industry's disruption due to the economic slowdown caused by the COVID-19 outbreak has restrained the demand for organic wine. However, businesses have collected profits as previously imposed limitations are being eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation, leading to the rise in business activities worldwide. The pandemic has also collaterally resulted in the growth of the organic wine industry post recovery from the production disruptions. The increased purchasing of alcoholic drinks has eventually aided the organic wine market after the onset of the pandemic.

The global organic wine market is segmented into five main regions— North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2021, Europe accounted for the largest share of the market, whereas North America is expected to grow at the highest CAGR over the forecast period. The US is expected to be among the top three consumers of organic wine over the end of the forecast period. The food & beverages industry is one of the rapidly growing industries in the region. Moreover, the region's rapidly growing alcoholic drinks market is bolstering the demand for organic wines.

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Organic Wine Market is to grow at a CAGR of 12.0% by 2028