Industry Report - Global Wine.pdf
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1、 Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1 MarketLine Industry Profile Global Wine August 2013 Reference Code: 0199-0800 Publication Date: August 2013 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS N
2、O T TO BE PHOTOCOPIED Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2 EXECUTIVE SUMMARY Market value The global wine market grew by 2.8% in 2012 to reach a value of $269.7 billion. Market value forecast In 2017, the global wine mar
3、ket is forecast to have a value of $318.3 billion, an increase of 18.1% since 2012. Market volume The global wine market grew by 1.6% in 2012 to reach a volume of 23 billion liters. Market volume forecast In 2017, the global wine market is forecast to have a volume of 25.6 billion liters, an increas
4、e of 11.3% since 2012. Category segmentation Still wine is the largest segment of the global wine market, accounting for 81% of the markets total value. Geography segmentation Europe accounts for 63% of the global wine market value. Market share E. harvesting grapes from vineyards they themselves ow
5、ned, making wine through a lengthy process of fermentation, and then bottling the produce. This model is still followed by large companies to an extent. However, major players often need to source grapes and grape juice from independent growers. In some cases, the company-owned vineyards are used fo
6、r producing premium wines, while third-party grapes are used for producing lower-priced products. Independent suppliers are numerous, and include some fairly small operation that experience weakened supplier power. However, independent grape growers can find alternative markets - for example, grapes
7、 are a raw material for fruit sugar production - and integrate forward into winemaking. These factors boost supplier power. Raw material quality is highly important in this business. The end product is strongly influenced by the nature of the grapes used. Overall, supplier power is assessed as moder
8、ate. Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 19 New entrants Figure 12: Factors influencing the likelihood of new entrants in the global wine market, 2012 SOURCE: MARKETLINE M A R K E T L I N E Entry to the global wine market
9、 may be achieved by starting a new company, or by diversifying an existing companys operations into winemaking. As high quality wines can be sold at premium prices, it is possible to enter the market on a small scale by adding a good margin to the price of the end-product. The larger companies, howe
10、ver, produce not only premium wines but also mass-market products. Here, margins may be much lower. An additional entry barrier is the need to access good distribution channels. It is rather unusual for wineries to integrate forward into selling to final consumers. Producers need to distribute wines
11、 widely, which generally involves channels such as supermarkets. This implies that they must persuade supermarkets, specialist stores, and on-trade businesses to stock their products. These retail chains often have considerable buyer power, which forces down the prices that wine producers can obtain
12、. In such a market, economies of scale become much more important, and as a result, barriers to entry, such as capital outlay on large-scale production plants, and the need to establish reliable supplies from multiple third-party vineyards, become much higher. Government regulation of wine and other
13、 alcoholic beverages is stringent in many countries, which may impede market entry. Overall, there is a moderate likelihood of new entrants. Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 20 Threat of substitutes Figure 13: Factors
14、influencing the threat of substitutes in the global wine market, 2012 SOURCE: MARKETLINE M A R K E T L I N E The main substitutes for wine are other alcoholic beverages, such as spirits and beer. From the point of view of retailers or on-trade businesses, the switching costs are not high, and the pe
15、r-unit-volume prices may be higher (for spirits) or lower (for beers). It is also difficult to be conclusive about the benefits of the alternatives: for example, not only beer but also champagne and white wine are optimally stored in chilled cabinets, which makes them more expensive to store; more c
16、oncentrated forms of alcohol (spirits) may offer better returns on shelf space than higher-volume wines and beers. Some on-trade establishments, such as restaurants, would find it difficult to operate without selling wine; others, for example pubs and clubs targeting particular demographics, are str
17、ongly focused on beers and spirits. From the point of view of the consumer, there are some differences between the ways different alcoholic beverages are used (champagne as a signifier of celebration, and so on), but many consumption decisions are a matter of personal taste - this makes wine vulnera
18、ble to the threat of other alcoholic beverages. Overall, there is a strong threat from substitutes. Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 21 Degree of rivalry Figure 14: Drivers of degree of rivalry in the global wine marke
19、t, 2012 SOURCE: MARKETLINE M A R K E T L I N E The global wine market is highly competitive and fragmented. Although individual country markets are not as fragmented as the global one, it is rare to see high concentration in wine markets. Wine is a highly differentiated product with variety of brand
20、s available, which may be intimidating to some consumers due to the lack of consumer orientation. Some wine producers (such as Fosters Group and Constellation Brands) have begun to introduce brand management and modern merchandising by launching bold brands, label designs and marketing campaigns in
21、order to become more identifiable with the public. Purchasers have a wide range of wines to choose from, with relatively low switching costs. These factors tend to intensify rivalry. Major players may offer premium wines, but much of their business involves mass -market products. This implies high f
22、ixed costs, because of the need to operate large winemaking plants. At the same time, the prices that can be obtained for these products may be forced down by large retail chains. These factors boost rivalry, which is assessed as moderate overall. Global - Wine 0199 - 0800 - 2012 MARKETLINE THIS PRO
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