Wine Industry Trends to Watch in 2023
WINE INDUSTRY TRENDS TO WATCH IN 2023
As one of the largest global markets, the Americas have a great amount of purchasing power in the wine industry. With a value share of 20.1%, the Americas represented the third-largest global market in 2020, the U.S. accounting for the largest value share of 63.7%--so now is the time for brands to strategically think about how to drive growth.
At TricorBraun WinePak, our team of experts is continuously monitoring consumer and wine industry trends in order to help your business grow. We have the purchasing power and global resources to support you from start to finish with a winning packaging strategy to help grow your market share and boost wine sales. Here’s a look at some of the wine trends our experts are seeing that should be considered by brands in 2023.
Source: GlobalData Opportunities in the Global Wine Sector
NORTH AMERICAN CONSUMERS TRENDS
31% of adults who buy alcohol ages between 22-44 seek out the “healthier” alcohol options (Mintel). The “better-for-you” trend continues to remain strong today, with low sugar and low-calorie options growing in popularity. This could have been accelerated by the Covid-19 pandemic, as it led consumers to invest in their health and wellness.
Better-for-you wines have continued to grow, nearly quadrupled in volume terms in 2021 and are expected to hit 3 million cases in the United States by the end of 2022 (Impact Databank).
As many did not want to cut wine out of their diets entirely, consumers sought out and found “healthier” options. If your product contains low or no sugar, low sulfites, use of little-to-no additives, or low percentage of alcohol, consider advertising it on your label to catch the attention of wine drinkers.
RESPONSIBILITY IS TOP OF MIND
Responsibility is a high priority in consumers’ minds. Consumers take several factors into consideration when purchasing their wines. Many want to know if the fruit for the wine was locally sourced, whereas others inquire about whether sustainable farming methods were used in growing the fruit. Consumers also value sustainable producers, those who utilize waste ingredients, and make an effort to “shop local” in order to support the wine industry workers and businesses in their community.
With responsibility top of mind, there are multiple opportunities for brands to make their mark and resonate with consumers. Ethical and authentic positioning in labeling, where your labels can tell a story and strengthen your brand, is becoming increasingly important. Strengthening your brand story, providing tips for sustainability on your website, or light weighting your packaging, are additional options to “go green” in the world of wine.
CONSUMERS CRAVE PREMIUM EXPERIENCES
The North American consumer currently is very driven to the “value” of their wine. Now, more than ever, consumers will trade up for premiumization, authenticity, and experience when investing in their wine or wine tasting experience.
Today, consumers are paying more per bottle in grocery stores: $8.79 (2022) vs. $8.07 (2020). Premium-and-above imported and domestic wine segments collectively grew in value and volume last year, while wines priced below $10 saw declines in the U.S. (Market Watch). GlobalData records that 26% of consumers say they purchase premium wine.
Packaging plays a large part in the premium experience. Consumers believe that bottles with unique shapes, textures, or embossing indicate a premium product. Whether you’re looking for stock or custom packaging for your wine products, our skilled Packaging Consultants can help you realize your vision and stand out from the competition to capture both the attention and dollars of wine lovers.
When it comes to wine packaging, we’re ready to handle all your sourcing and operational needs—even in cases of changing or unforeseen circumstances. Ask us how we can help you manage your supply chain.
Contacts us today!
TALK TO A PACKAGING CONSULTANT
Whether you’re looking for a stock package or a groundbreaking custom design, WinePak's proven process will guide your packaging decisions from napkin sketch all the way to the retail shelf.