A growing trend toward supporting local businesses has benefited small-scale craft wineries.

AUSTIN, TX, UNITED STATES, October 29, 2024 /EINPresswire.com/ -- The Craft Wine Market was valued at USD 40.14 billion in 2023 and is expected to grow to USD 58.63 billion by 2032, at a CAGR of 5.32% over the forecast period of 2024-2032.

The craft wine market is expanding, driven by an increasing demand for artisanal and naturally-oriented products. The hands-on health benefits, use of natural ingredients, and unique tastes are among the reasons for its preference. With consumers incorporating healthy drinks into their spending, the craft wine sector is booming worldwide.

Rising Consumer Curiosity Fuels Growth in Craft Wine Market, Expanding Flavor Profiles and Local Experiences

The craft wine market is growing, with a lot of interest from consumers wanting to visit wineries and learn about how the wine was made for themselves. According to the latest IWSR beverages market report, global craft wine production is expected to rise. The U.S. is home to well over 11,000 wineries and the appetite for local, handcrafted, and unique wines continues to increase driven primarily by the growth in premium wine consumption.

This bigger appetite among consumers for new flavor profiles has allowed craft wine producers to showcase all these varietals including red, rosé and white. These specifically stand out because of their extra flavor and pigment during the growing season. With more pioneering craft wines from big names and plenty of new blending ideas in the mix, consumers are starting to find themselves drawn into the world of artisan wines.

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Sparkling and Rosé Wines Lead the Charge: Craft Wine Market Segmentation Insights for 2024-2032

By Type: The Craft Wine Market Share was dominated by sparkling wine in 2023 and is anticipated to be the fastest-growing segment concerning CAGR from 2024 to 2032. This increase is due to the changing consumer tendency towards celebratory and social occasions with sparkling wines. At the same time, increased enthusiasm for wine tourism and seeking special-quality products have brought an increase in innovative sparkling wines. It has also prompted makers to try a range of flavors and styles to cast a wider net.

By Flavor: Red wine to represent the largest share of the market in 2023, primarily as it remains a very popular choice for consumers and is extremely versatile when paired with different types of cuisines. The strong, established brand of red wine and its variety of types within the category have likely tapped into a little more core consumer base to push it ahead to number one in popularity.

Rose wine is expected to have the highest CAGR during the forecast years from 2024 to 2032. Rosé consumption has risen due to younger generations wanting fresher, lighter products. This makes it appealing for casual dining and social occasions as well as seasonal trends that put rosé wine in a great position to broaden base its growth over the next few years.

Craft Wine Market Segments:

By Type
• Still Wine
• Sparkling Wine
• Others

By flavor
• White Wine
• Red Wine
• Rose Wine

By Distribution channel
• On-Trade
• Off-trade

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North America Dominates Craft Wine Market, While Asia Pacific Poised for Rapid Growth by 2032

In 2023, North America held the largest share of the global craft wine market with a strong tradition and culture of wine coupled high number of wineries present in this region along with higher consumer spending towards premium and artisan products act as driving factors for better growth in the forecast period. Established distribution networks and increased demand for distinctive wines from near the consumer have kept this region on top of global markets.

Asia Pacific is anticipated to witness CAGR fast growth from 2024-2032. Factors including a growing middle class with more disposable income, increased exposure to wine culture, and heightened interest in premium beverages have all driven this growth. Furthermore, the growth of wine tourism and domestic production in China and India is likely to fuel demand for craft wine, emerging Asia Pacific as an important region for future international market expansion.

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Recent Developments:

• In October 2024, Revenue Minister Jagat Singh Negi inaugurated a Rs 7.51 crore wine factory at the HPMC fruit processing center in Jadol, He addressed the need for public cooperation to help Himachal Pradesh become self-reliant.

• In October 2024, Brasserie Mon Chou introduced its Grand Vin wine program, featuring two exclusive Bordeaux wines by the glass. Guests can now enjoy these rare French wines served tableside for a unique dining experience.

Table of Contents

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
8. Craft Wine Market Segmentation, By Service
9. Craft Wine Market Segmentation, By Application
10. Regional Analysis
11. Company Profile
12. Use Cases and Best Practices
13. Conclusion

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