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The market for non-alcoholic wines is expected to grow to 2.48 billion euros by 2031, effectively doubling. This means an annual increase of 11.6 percent. This conclusion comes from a market analysis report. The California-based company Meticulous Research surveyed the world's leading manufacturers, including Torres (Spain), Giesen Group (New Zealand), Sutter Home (USA), and Pierre Chavin (France). German producers Schloss Wachenheim, Carl Jung, and Weingut Leitz**** also participated in the study.
In the current year, global revenue for non-alcoholic wines is expected to be around 1.25 billion euros. Sparkling wine dominates sales with nearly 83 percent share. About 62 percent are sold through retail. Europe's market share amounts to 605 million euros, or 48.5 percent. In the coming years, the highest growth rates are initially expected in North America.
Reasons for the growth include changing consumption patterns towards healthier alternatives and increasing acceptance in various religions, cultures, and social environments. The loss of taste and aroma during de-alcoholization, as well as the higher costs compared to conventional wine, currently limit opportunities. However, advancements in production technology that replicate complex taste and aroma profiles, along with standardized national regulations, would open up significant growth opportunities for market participants.
(al / Source: yahoo.finance)