Product innovation and launch of new product in order to satisfy the rising demand for wine. For instance, one of the key player, Treasury Wine Estates (TWE) launched the wine with augmented reality (AR) labels. The AR experience on 19 crimes activated with the Living Wine Labels (LWL) App, which had more than 2 million downloads globally since the launch. In the US market, the brand is well established, but the sale is higher in the Australia and the UK. These product launches are influencing on the growth of the wine market.
The global wine market is gaining traction due to rising demand for wine from the wine-consuming population. The factors such as changing lifestyle and increasing disposable income of consumer are fuelling growth of the global wine market.
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Additionally, different product innovation of wine and rising application of wine in the numerous food and beverages products are fuelling growth of the global wine market.
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The distribution channel of wine is segmented in to online and offline distribution. The offline distribution channel can be further sub-segmented in to supermarkets and hypermarkets, specialty stores, and convenience stores. Of these, online distribution is expected to dominate the global wine market owing to rising internet facilities, easy convenience, and the presence of a large number of brands.
However, the offline distribution such as supermarkets and hypermarkets are expected to grow with impressive CAGR due to presence of organized retail networks of wine in the developed and developing regions.