Vegan Wine Market Size Worth $5 Billion By 2030: IndustryARC

The Global Vegan Wine Market size is predicted to reach $5 billion by 2030, growing at a CAGR of 9.8% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Health consciousness among consumers, Environmental concerns, including climate change and sustainable living are poised to propel the market growth, finds IndustryARC in its recent report, titled “Vegan Wine Market Size, Share & Trends Analysis Report By Type (Still Wine, Sparkling Wine, Fortified Wine, and Others), By Color (Red Wine, Rose Wine, White Wine, and Others), By Nature (Organic, Biodynamic), By Packaging (Bottle, Can), By Distribution Channel (Super Markets/Hyper Market, Specialty Stores, Online Retailers, Pubs/Bras/Restaurants, and Others By Region and Segment Forecasts, 2024-2030”

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Geographically, North America is analyzed to grow with the highest CAGR of 11.4% during the forecast period 2024-2030. This growth is propelled by an increasing number of consumers in North America opting for vegan lifestyles and demanding ethical and sustainable products. Every year interest in plant-based eating grows in the United States. According to a study done by Vegetarian Times, 9.7 million Americans follow a vegetarian diet, with about one million of those being vegan. 59% of plant-based eaters in the United States are female, with 41% being male. Winemakers catering to this trend by producing high-quality vegan wines have found a receptive market in North America, driving the segment's rapid expansion. Furthermore, the region's strong distribution networks and marketing strategies have contributed to the widespread availability and acceptance of vegan wines among consumers, fostering its growth in the market.

 

Red wine segment had more than one third of the market share in 2023. Its supremacy can be attributed to several factors. Red wine traditionally has a broader consumer base due to its established popularity. Additionally, red wine is often perceived as having more health benefits, driving health-conscious consumers toward this segment. According to Deals on Health drinking red wine in moderation can decrease the risk of heart disease by 30%, moderate wine consumption can reduce the risk of diabetes by 25%. Moreover, the complex and diverse Flavors of red wines cater to varying taste preferences, further enhancing its market appeal. Red wine's versatile nature, coupled with growing awareness about its vegan and organic variants, solidifies its leading position in the market.

Organic Vegan wine is analysed to grow with the highest CAGR of 8.5% during the forecast period. Organic wines have witnessed a surge in demand due to the increasing health consciousness among consumers. People are more inclined toward organic products, believing them to be healthier and environmentally friendly. Additionally, organic vineyards utilize sustainable farming practices, appealing to eco-conscious consumers. The certification of organic wines ensures no synthetic pesticides or chemicals are used, aligning with the preferences of health-aware and environmentally conscious buyers. This heightened awareness and commitment to healthier lifestyles and sustainable practices contribute to the rapid growth of the organic wine segment in the market.

Europe region held a major market share of 43% in 2023. Europe leads the Vegan Wine Market due to its strong emphasis on sustainability, aligning with consumers' eco-conscious preferences. European wineries have adapted swiftly to vegan production methods, using plant-based fining agents. Additionally, the European Commission's supportive measures for wine producers have bolstered the vegan wine market. The region's changing lifestyle trends and increased spending on premium wines have further propelled the growth of vegan wine, making Europe a dominant player in the global market. In 2021, wine journalist James Suckling published a report rating 463 vegan wines. He found that France home to global wine capital Bordeaux was the origin of only four of all the wines on the list.

The global market for vegan wines is on an upward trajectory, driven by a surge in consumer preference for plant-based and organic options. Across diverse regions, consumers are embracing environmentally conscious choices, fueling the expansion of this market. This trend signifies a significant shift in consumer behavior, paving the way for innovative vineyards and wineries to flourish. As consumers increasingly seek sustainable and ethical products, the demand for vegan wines continues to rise. This evolution creates promising opportunities for businesses, opening new avenues for growth and encouraging the wine industry to adapt to changing market dynamics.

Wineries are embracing digital platforms to revolutionize their approach in the modern market. Utilizing these platforms, they conduct online tastings and direct-to-consumer sales, enhancing accessibility and customer engagement. This shift caters to the tech-savvy audience, creating virtual experiences that bridge the gap between consumers and wineries. By leveraging digital strategies for sales and marketing, wineries not only expand their customer base but also provide convenient avenues for wine enthusiasts. 

Sustainability stands at the forefront of winemaking practices, reflecting a growing environmental consciousness among consumers. Wineries are increasingly embracing eco-friendly methods, notably organic and biodynamic farming, to minimize their ecological footprint. By adopting these sustainable approaches, wineries not only cater to the environmentally aware consumer base but also demonstrate their commitment to responsible business practices. This shift not only ensures the preservation of natural resources but also enhances the reputation of wineries, aligning their operations with eco-conscious values. In essence, sustainable practices have become integral to the wine industry, shaping a greener, more environmentally responsible future.

• Vegan Wine Market Size and Forecast 

• Vegan Wine Market Trends

• Vegan Wine Market Analysis by Product Type

• CAGR of the market during the forecast period 2024-2030

• Value Chain analysis of key stake holders

• Detailed analysis of market drivers and opportunities during the forecast period

• Vegan Wine Market size estimation and forecast

• Analysis and predictions on end users’ behavior and upcoming trends 

• Competitive landscape and Vendor market analysis including offerings, developments, and financials

• Comprehensive analysis of challenges and constraints in the Vegan Wine Market

The Vegan Wine Market experienced significant fluctuations due to the Covid-19 pandemic. Initially, disruptions in the supply chain and closure of hospitality sectors led to a decline in sales. However, consumer awareness about health and sustainability boosted demand for vegan wines. Online sales surged, compensating for losses, and the market adapted by emphasizing digital presence and eco-friendly practices.

The Vegan Wine Market in Russia and Ukraine faced severe disruption due to the ongoing conflict. Supply chains were disrupted, leading to shortages and price hikes. Economic instability further dampened consumer spending, affecting sales and profitability. Companies grappled with uncertainty, making strategic planning challenging. Swift recovery efforts and adaptive business strategies were imperative to navigate the crisis.

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The Global Vegan Wine Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• O'Briens Wine

• Pure Wines Ltd.

• Frey Vineyards

• The Vegan Vine

• Bonterra Organic Vineyards

• lumos wine company

• Bodegas Garciarevalo

• Atlantik Imports

• Natura Wines

• Red Truck Wines

Red Wine Market - The Red Wine Market size is estimated to reach $94.6 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.3% over the forecast period of 2023 – 2030. The red wine industry is seeing an increase in demand from health-conscious customers as well as for red wine as a substitute for other beverages. Red wine market is predicted to be fuelled by rising disposable incomes, expanding urbanization, and a growing number of millennials.

Vegan Food Market - The Vegan Food Market is anticipated to attain a market value of $54.876 billion by the year 2030, exhibiting a steady compound annual growth rate CAGR of 8% during the forecast period spanning from 2023 to 2030. The growing global concerns about obesity rates and health issues like heart diseases, high blood pressure, diabetes, and asthma have led consumers to become more health-conscious. As a result, there is an increasing demand for healthier food choices, including vegan food products.

Luxury Wines and Spirits Market - Luxury Wines and Spirits Market size is estimated to reach $123.4 billion by 2030, growing at a CAGR of 5.1% during the forecast period 2023 -2030. Growing western influence among the younger generation in developing nations is one of many factors set to drive the growth of the Luxury Wines and Spirits Industry for the period 2024-2030.

Fruit Wine Market - The Fruit Wine Market size is estimated to reach $ 5,000 million by 2030, growing at a CAGR of 6.5% during the forecast period 2024-2030. Fruit wine market is rising due to their distinct Flavors, aromas, and potential health benefits.

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Mr. Venkat Reddy

IndustryARC

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