The newly-released Wine Subscription Market analysis report by Future Market Insights reveals that global sales of the Wine Subscription Market were held at USD 510.4 Million in 2022. The market is expected to reach a valuation of USD 3.9 Billion by the end of the forecast period, with projected growth of 20.7% from 2023 to 2033.
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Wine club memberships are a convenient way to sample wines from across the world. Customers can choose subscriptions that focus on wines from specific nations or regions, or they can opt for local subscriptions that highlight wines from their own country or state.
Wine subscription services also offer an array of options to suit several tastes. They arrange offerings based on flavor profiles, regions, or specific themes, such as organic or biodynamic wines. Some subscriptions also allow clients to customize their shipments based on personal preferences.
A study of American wine drinkers in 2020 discovered that 36% of participants had bought wine through a wine club in the previous year, up from 30% in 2018.
Wine subscriptions are consistent with the wine industry’s larger trend of direct-to-consumer (DTC) sales. Subscription services can offer unique wines at low prices by avoiding traditional distribution routes, and winemakers can create direct ties with consumers, obtaining valuable feedback and insights.
Increasing interest in premium and luxury wines is indeed a growing trend in the wine subscription market. The growing demand for premium and luxury wine subscriptions is largely influenced by millennials, who are playing a pivotal role in driving the market’s growth.
Millennials are more frequent wine drinkers, with 17% drinking wine daily, while 10% of baby boomers and 5% of Gen Xers consume wine daily.
Key Takeaways from this Report:
- With an absolute dollar opportunity of USD 3.3 billion, the market is projected to reach a valuation of USD 3.9 billion by 2033.
- Asia Pacific had a market size of US$ 130 million in 2022 and is projected to reach a worth US$ 1.5 billion by 2033.
- The market in the United States has grown at a CAGR of 23.8% from 2018 to 2022 and is projected to grow at 23.2% CAGR through 2033.
- The market in the United Kingdom has grown at a CAGR of 20.3% from 2018 to 2022 and is projected to grow at 8.9% CAGR through 2033.
- The market in France has grown at a CAGR of 22.4% from 2018 to 2022 and is projected to grow at 5.8% CAGR through 2033.
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Competitive Landscape:
Key players in the market are Naked Wine, Blue Apron, Laithwaites, WSJwine, Flaneur Wine, BOXT, Firstleaf, Cooper’s Hawk, Messina Hof, Splash Wines, Iron Horse Vineyards, and SokolBlosser.
The leading players are directed towards partnership, product launch, and development, acquisitions, and mergers to gain revenue in the market.
Recent Developments:
- In March 2022, Sokolblosser declared their partnership with Republic National Distributing Company (RNDC) in 18 other United States. RNDC highlighted Sokolblosser’s organically farmed vineyard for more than 30 years and this led to the expansion idea.
- In February 2021, Iron Horse, a sparkling wine producer declared a national partnership with VINTUS. The strategy behind this partnership was to expand the business across the United States at a rapid pace as VINTUS is a prominent importer of wine and spirits.
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Segmentation of the Global Wine Subscription Market
By Subscription Type:
- Personalized Box
- Curated Box
By Delivery Frequency:
- Monthly
- Quarterly
- Bi-Annual
- Annual
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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