Research and Markets: Outlook on Opportunities in the Western Europe Wine Sector Market to 2024 - ResearchAndMarkets.com
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The global wine sector was valued at US$372,482.4 million in 2019 and is projected to grow at a CAGR of 4.2%, to reach US$ 456,963.2 million by 2024.
Western Europe was the largest market for wine, accounting for 40.8% value share of the global wine sector in 2019. The region valued US$152,087.2 million in 2019 and is expected to register a negative CAGR of 0.5% during the forecast period. Based on the relative performance of countries on multiple metrics, Denmark, Sweden, Luxembourg, and Austria were shortlisted as high-potential countries, primarily due to the large wine sector size, projected high-value growth rates, and projected rising per capita value growth levels.