The Business Research Company’s Wine And Brandy Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 1, 2021 /EINPresswire.com/ — Wine manufacturers are increasingly using augmented reality mobile applications to effectively promote their products. Mobile phones with augmented reality applications when held over a wine bottle label display creative video content that convey a brand’s story and help engage customers. For instance, Treasury Wine Estates launched the 19 Crimes augmented reality mobile application that animated criminals pictured on its bottle labels when a phone camera is pointed. Other wineries that have launched augmented reality mobile applications include E. & J. Gallo Winery and The Walking Dead.
Global wine and brandy market analysis shows that it is expected to grow from $166.56 billion in 2020 to $178.46 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $245.79 billion in 2025 at a CAGR of 8%.
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Western Europe is the largest region in the global wine and brandy market, accounting for 31% of the market in 2020. Asia Pacific is the second largest region accounting for 30% of the global market. Middle East is the smallest region in the global wine and brandy market.
Major companies in the market include Constellation Brands, E & J Gallo Winery, Torres Wines, Treasury Wine Estates, Vina Concha Y Toro.
The global wine and brandy market is segmented by type into wine, brandy, by distribution channel into off-trade channels, on-trade channels, and by category into mass, premium. Subsegments covered are still wine, sparkling wine, cognac, Armagnac.
Wine And Brandy Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides wine and brandy global market overview, forecast wine and brandy global market size and growth for the whole market, wine and brandy market segments, and geographies, wine and brandy market trends, wine and brandy market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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