Wine Tourism Market: Current Analysis and Forecast (2024-2032)
Emphasis on Service Type (Wine Tastings & Tours, Wine Festivals & Events, Others); Tourist Type (Domestic, International); Suppliers (Airlines; Hotel companies; Tour operators); and Region/Country
Wine Tourism Market Size & Forecast
The Wine Tourism Market was valued at approximately USD 46 Billion in 2023 and is expected to grow at a substantial CAGR of around 12.8% during the forecast period (2024-2032), owing to the rapid adoption of consumer demand for unique experiences.
Wine Tourism Market Analysis
Wine tourism or enotourism, therefore, as a sub-sector of food tourism, is the discipline concerned with wine. It may entail wine tourism, wine tourism being able to visit vineyards, vintages, wine tasting, or get an opportunity to make wine. It is a growing industry offering tourists unique and immersive experiences. Adding to this, it offers wine tasting, local cooking experiences, and sometimes even harvest and winemaking processes. With the rise in experiential traveling, this sector has gained traction a lot.
This sector has huge opportunities in the tourism sector due to technological advancements such as digital payments, online bookings, and social media. Also, with the increase in the number of relatively young wineries, many companies seem to adopt strategic marketing and advertisement revelations for their wine-making facilities. For instance, on January 22, 2024, TEMES S.A. and PREMIA Properties REIC proceeded in a strategic partnership to further develop Navarino Vineyards, located in Costa Navarino, Messinia, Greece. The two companies joined forces to create, through a new investment, a state-of-the-art winery concerning the winemaking tradition of the region and the environment. Hellenic Wineries S.A. also participated in the investment plan for the production and commercial development of the wines.
Wine Tourism Market Trends
This section discusses the key market trends influencing the various segments of the wine tourism market as identified by our research experts.
Hotels Transforming the Wine Tourism Industry
The hotel establishes demand for the wine tourism market as tourists value authenticity and are willing to spend their time exploring Wine Tourism instead of routinely visiting sights. Also, major hotels are located within or near vineyards, providing guests with the unique opportunity to stay at the source of their wine. In addition, it assists in developing packages with wine excursions accompanied with tasting sessions, tours to the vineyards, as well as wine-making sessions. In addition, hotels introduce more fine and expensive wines for the tourists that assist in expanding the market. For instance, on July 06, 2024, Captain’s Cellar, launched at Delhi’s Taj Mahal Hotel, brings a wide selection of fine wines worldwide. It offers wine in a new format — on tap featuring bottles from vineyards spanning Bordeaux, Tuscany, Rioja, Napa, and Akluj. The goal was to provide a panorama of the world’s great wine regions and to showcase the intricate diversity of wines based on the expression of terroir, climate, and complexity.
Europe leads the market in 2023.
Europe held a dominant share of the market in 2023 owing to its rich historical background, the increased interest in experiential tourism, and the focus on sustainability. Also, major airlines and hotel companies in Europe are now using wine tourism to improve their economy and enhance their culture. Moreover, Europe has always been the leader in the production of wine, with Italy, France, and Spain. They have been the most preferred destinations by tourists for wine tourism due to these strong wine-producing areas and history. Also, the wine industry in Europe has been developed since time immemorial and has ensured that the world’s most renowned wines are produced here. Furthermore, the captivating beauty of Europe, along with modernization and digitalization. Liberalism influences the increase in wine tourism, leading to the consumption of wine.
On 5 January 2023, Winerist announced an exciting new partnership with Iter Vitis in an official move to become their trusted partner in providing wine experiences in its key destinations across the wine routes of Europe.
Wine Tourism Industry Overview
The Wine Tourism market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are BK Wine AB, Wine Tourism Global, Wine Paths, Santa Rita, Robert Mondavi Winery (Constellation Brands), Grape Escapes, Treasury Wine Estates Ltd, and Vinoteca Wine.md, Chateau Burgozone, Winetours Moldova
Wine Tourism Market News
On October 3, 2024 – The second largest Indian wine producer, Fratelli Vineyards, which went public recently in an interesting share swap deal with a related publicly traded company, finally unveiled plans to promote wine tourism by investing around Rs.600 million in a 40-room wine resort (agriturismo) to be constructed in its owned vineyard.
On December 23, 2024- The Uttarakhand government inaugurated its first-ever wine production facility in Kotdwar, marking a milestone in its efforts to foster wine tourism under a revamped excise policy. This new initiative has already seen the successful production of 1,000 cases of wine, setting the stage for further growth.
On January 14, 2020- Hotel De’Ricci in Rome ramped up its wine tourism experience, as every suite had a curated wine cellar, with guests selecting the contents of their wine fridge from a central cellar with 1,500 labels and 15,000 bottles.
Wine Tourism Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 12.8% |
Market size 2023 | USD 46 Billion |
Regional analysis | North America, Europe, Asia-Pacific, Rest of the World |
Major contributing region | Asia-Pacific is expected to grow at the highest CAGR during the forecasted period. |
Key countries covered | U.S., Canada, Germany, France, UK, Spain, Italy, China, Japan, and India |
Companies profiled | BK Wine AB, Wine Tourism Global, Wine Paths, Santa Rita, Robert Mondavi Winery (Constellation Brands), Grape Escapes, Treasury Wine Estates Ltd, Vinoteca Wine.md, Chateau Burgozone, Winetours Moldova |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Service Type, By Tourist Type, By Suppliers, By Region/Country |
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
The global wine tourism market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence, feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Wine Tourism Market Analysis (2022-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global wine tourism market were the three major steps undertaken to create and analyze the adoption of wine tourism in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were considered to validate these insights. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the global wine tourism market. For the assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the wine tourism market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the wine tourism market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as service type, tourist type, suppliers, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the wine tourism market. Further, we conducted factor analysis using dependent and independent variables such as service type, tourist type, suppliers, and regions of the Wine Tourism market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Wine Tourism market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Wine Tourism market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the Wine Tourism market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global Wine Tourism market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global wine tourism market. Data was split into several segments and sub-segments after studying various parameters and trends in the service type, tourist type, suppliers, and regions of the global Wine Tourism market.
The main objective of the Global Wine Tourism Market Study
The current & future market trends of the global wine tourism market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the wine tourism market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas of the service type, tourist type, suppliers, and regions.
Define and analyze the regulatory framework for the wine tourism
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the wine tourism market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the wine tourism market and the growth strategies adopted by the market players to sustain the fast-growing market.
Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the Wine Tourism market's current size and growth potential?
The Wine Tourism market was valued at USD 46 Billion in 2023 and is expected to grow at a CAGR of 12.8% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the Wine Tourism market?
The rising standard of living, influence of globalization, and fragmentation of holidays drive the Wine Tourism market.
Q3: Which segment has the largest share of the Wine Tourism market by service type?
The Tasting and Tours segment has the largest share of the Wine Tourism market by service type.
Q4: What are the major trends in the Wine Tourism market?
Increased tourist experience, striving for authentic experience, demand for products of higher quality, and the delivery of value for money are the major trends in the Wine Tourism market.
Q5: Which region will dominate the Wine Tourism market?
Europe is expected to dominate the market in forecasted period.
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