The wine has prevailed as part of our culture for a really long time. Its role has evolved over time as a symbol of fine living. It has been an important source of nutrition and now has changed into a cultural complement to food resulting in a healthy lifestyle.
The wine industry is at the terminus of its largest growth period in history. Since 1994, the industry has been experiencing continuous trends of increasing volumes and higher prices.
In 2014, wine consumption was 240 million hectoliters collectively, and the figures have even increased a little all these years. In 2018, the sales have risen by 2 to 4 percent, while the volumes increased up to 1 percent. During the period 2018-2022 the Global Sparkling wine market is expected to grow at a CAGR of 1.99%.
Evidently, the few European nations known to be the major producers of some of the best wines have lately increased the harvest to be in sync with the growing demand for wine.