U.S. Wine Market to Hit USD 141.14 Billion by 2033, Growing 6.5%
Laxman Dige
Brand Builder at Precedence Research | Towards Healthcare | Towards Packaging | Nova One Advisor
According to Nova One Advisor, the U.S. wine market size was exhibited at USD 81.85 billion in 2023 and is projected to hit around USD 141.14 billion by 2033, growing at a CAGR of 6.5% during the forecast period 2024 to 2033.
Wine has gained wide-scale penetration across the U.S. as changing cultural norms and evolving lifestyles have led to an increased appreciation for wine as a beverage of choice. With a shift toward more sophisticated and diverse tastes, wine has become synonymous with socializing, dining, and celebratory occasions. The online sales of wine have made the product more affordable and accessible to consumers, regardless of their location. Along with that, digital communication technologies have improved the experience of shopping for different types of wine.
Wine is considered a social drink, fit for all occasions-formal and informal. A scientific theory that makes wine suitable for the purpose of socializing is that its consumption activates endorphins. Moreover, wine is also considered to be healthy. Numerous scientific studies have shown that moderate consumption of wine can be good for cardiovascular health. The compounds present in grapes reduce the risk of some cancers, diabetes, and other cardiovascular diseases. Its antioxidants eliminate free radicals in the body. It is also believed that consuming wine in moderation increases longevity and boosts the resilience of some organs.
Wines are popular as they are consumed by a wide audience as an affordable choice for regular consumption, often being a go-to option for newcomers to the wine scene. With evolving lifestyles, there has been a noticeable shift towards lighter alcoholic beverages like wine, beer, and seltzers, from strong liquor. This changing trend is a significant driver behind the increasing number of wine enthusiasts and the growing demand for table wine.
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U.S. Wine Market Key Takeaways:
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U.S. Wine Market By Product Insights
Table wines led the market and accounted for the largest revenue share of 83.4% in 2023. Table wines are non-sparkling, unfortified, and dry. Their availability through various off-trade routes and preferability among the vast population as an economical option for regular consumption drive segment growth. Being inexpensive and easily accessible through retail, table wines often find preference among new consumers of wine. With changing lifestyles, there has been a shift in alcohol consumption-from hard liquor to mild alcoholic beverages such as beer, wine, and seltzers. This trend is a key factor driving the growth of new wine consumers and consequently plays a role in the rising demand for table wine.
The sparkling wine segment is expected to grow at a CAGR of 6.3% from 2024 to 2033. There is a growing interest in celebratory and social drinking occasions in the U.S., which is driving the regional market. Sparkling wine, particularly Champagne and its more affordable alternatives such as Prosecco and Cava, is often associated with festivities, special events, and toasts. As consumers increasingly seek experiences and moments to celebrate, the demand for sparkling wine has naturally risen. The percentage of people who consume sparkling wine at least once a month increased from 56% to 72% between 2019 and 2022, as reported by IWSR Drinks Market Analysis. In addition, the total number of Americans drinking sparkling wine rose by 30% during the same period.
U.S. Wine Market By Distribution Channel Insights
The sales of wine through off-trade channel accounted for the largest revenue share 73.0% in 2023. Off-trade distribution channels for wine in the U.S. include supermarkets, hypermarkets, retail outlets, organic stores, and e-commerce platforms. According to the 2020 Drink Analysis report by the International Wine & Spirit Research (IWSR), around 80% of alcohol sales in the U.S. were generated from off-trade sales channels. Retailers offer a diverse wine selection, often with discounts and offers. They also provide a convenient one-stop shop for wine consumers. The demand for U.S. wine is increasing among consumers in the country, and as a result, many wine retailers in the U.S. are expanding their offerings to cater to these evolving consumer preferences.
The sales of wine through on-trade channels are expected to grow at a CAGR of 6.3% from 2024 to 2033. The on-trade distribution channel includes bars, clubs, restaurants, hotels, and wineries. Increased product penetration through restaurants and bars in the U.S. is a key factor driving the segment’s growth. With the relaxation of COVID-19-related lockdowns and the availability of vaccines across the U.S., the on-trade channels for wine resumed operations with several safety regulations in place to limit the spread of coronavirus. According to the International Wine & Spirit Research (IWSR), in 2023, the revival of on-trade establishments, particularly bars, has significantly contributed to attracting a younger demographic to the wine category. Wine consumption levels in on-trade settings now exceed those from before the pandemic.
U.S. Wine Market Recent Developments
Some of the prominent players in the U.S. wine market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. wine market
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