The recent technological advancement in the manufacturing of wine and development of novel products and
technique such automated machinery, which increasingly adopted during different phases of the harvesting and
production procedures, particularly in the large production houses, thus triggering market growth, in the recent
years.
In addition, increasing adoption of agriculture technology (ag-tech) in order to utilize water and electricity
effectively, rising implementation of drones to irrigate crops and thermal & GPS imaging to gather information
on each aspect of grapevine physiology is expected to positively influence market growth in the upcoming years.
Improved quality of the product due to early adoption of agriculture technology (ag-tech) is likely to improve
the product quality. Common primary materials needed for production of wine include grapes and water.
However, changing market prices of grape supplies due to reduced production or oversupply are expected to
hamper market growth to a certain extent. Moreover, fluctuation in the prices of grapes are caused by
unfavorable climates changes and agriculture policy changes, leading to significantly affecting the operational
and manufacturing cost.
Manufacturers are facing extreme challenges because of the undesirable currency exchange rates and high
logistics cost coupled with increase in the import costs. These factors are significantly affecting overall market
performance in the last few years. Table wines is considered as one of the fastest growing segment in the wine
market with substantial revenue generation in the last couple of years. Growing popularity of the table wine
market segment is attributed to lower prices in comparison with its counterparts.
The wine market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the implementation of latest technologies
in the production of wine, the high cost & availability of raw materials and existence of well-established
manufacturing sector in the region. Asia-Pacific region is predicted to hold major market share in the wine
industry with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with presence of large
consumer base, increasing popularity of wine, rising personal disposable income, and significant investment by
leading industry players considering potential growth opportunities in the region. The key players in the wine
market are Wine Group, Constellation Brands U.S. Operations, Inc., E. & J. Gallo Winery, Treasury Wine Estates,
Sula Vineyards Pvt. Ltd., Woolworths Ltd., and Total Wine & More.
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