Surge in number of wineries, increase in wine production, high demand potential for wine from export market drive the growth of wine production machinery market
According to the report published by Allied Market Research, the global wine production machinery market generated $2.0 billion in 2019, and is projected to reach $2.8 billion by 2030, witnessing a CAGR of 4.2% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Europe contributed to the highest share in terms of revenue in 2019, contributing to more than three-fifths of the total market share. The outbreak of the COVID-19 pandemic has led to temporary closure to production facilities of wine, however, the volume of consumption has not been impacted much, as wine-lovers have continued with their consumption.
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Shankar Bhandalkar, a Team Lead Research, Food and Beverages at Allied Market Research, stated, “The global wine production machinery market is expected to witness significant growth due to rise in number of wineries and adoption of robotics and automation in wine making. Moreover, rise in trend of consumption of wine is anticipated to boost the overall revenue of the industry.”
COVID-19 scenario:
• The outbreak of the COVID-19 pandemic has led to global lockdown and temporary closure to production facilities of wine and disrupted supply chain across the world, thereby, adversely affected the market growth.
• However, the volume of consumption has not been impacted much, as wine-lovers have continued with their consumption.
The report offers detailed segmentation of the global wine production machinery market based on type and region.
Based on type, the temperature control equipment segment held the highest market share in 2019, accounting for nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the crushing and pressing equipment segment is estimated to register the highest CAGR of 4.5% from 2020 to 2027.
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Based on region, Europe contributed to the highest share in terms of revenue in 2019, contributing to more than three-fifths of the total market share, and is estimated to continue its dominant share by 2027. However, North America region is projected to manifest the fastest CAGR of 5.2% during the forecast period.
Leading players of the global wine production machinery market analyzed in the research include GW KENT, Agrovin, Della Toffola Pacific, Love Brewing Ltd, Northern Brewer, Adamark Airknife, Paul Mueller Company, Vitikit Limited, Tanium Machinery, and VeCriveller Group.
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