Wine business will grow 4.2% annually through 2027, touching $434 billion

The world to come after a pandemic which is getting hard to overcome and manage, remains something unknown, under many aspects. One of the few certainties, however, seems to be that the wine market will grow in value, even though it is obviously a gamble to understand by how much, especially in the medium term. And so, if according to a report by Grand View Research, the sector will grow at a rate of 6.4% per year already starting from this year 2021, to touch 685 billion dollars in 2028, it is lower but however positive the estimate of “Wine - Global Market Trajectory & Analytics” by the American company Global Industry Analysts. According to which the wine turnover, estimated at around 326 billion dollars in 2020, will reach 434 by 2027, with an aggregate growth of +4.2% per year.
An important difference in final values, but with a growing trend which is confirmed, and according to the study by Global Industry Analysts, still wines will grow by 4.2% per year, and sparkling wines by 4.8%. And, maybe, also a recovery of sweet wines, which, according to many, are not having a brilliant period, but according to the report, instead, they will see their turnover growing by 3.3%.
According to the report, the lion's share will be taken by China, which, with +7.4% per year in the period under consideration, should reach a value of 93.5 billion dollars in 2027, more than the US market is worth today, estimated (in 2020) at around 88 billion dollars. And if among the most interesting distant countries there are Canada and Japan, with a growth forecast of +1.3% per year in both cases, it is interesting the +2.2% estimated for Germany, already today one of the biggest wine markets of the world.