Vegan Wine Market - Forecast(2024 - 2030)

Vegan Wine Market size is estimated to reach $5 billion by 2030, growing at a CAGR of 9.8% during the forecast period 2024-2030. Health consciousness among consumers, Environmental concerns, including climate change and sustainable living are propelling the Vegan Wine Market growth. Additionally, Consumers' growing preference for plant-based diets has led to an increased demand for vegan products, including wines. Vegan wines, made without the use of animal-based fining agents, align with the principles of plant-based living. As more people recognize the health advantages of consuming plant-derived products, the wine market has adapted to cater to this demand. According to World Health Organization Worldwide, 3 million deaths every year result from harmful use of alcohol. This represents 5.3% of all deaths. The harmful use of alcohol is a causal factor in more than 200 disease and injury conditions. Overall, 5.1% of the global burden of disease and injury is attributable to alcohol, as measured in disability-adjusted life years. These factors positively influence the Vegan Wine industry outlook during the forecast period.

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The “Vegan Wine Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Vegan Wine Market.

• The Vegan Wine Market experienced significant fluctuations due to the Covid-19 pandemic. Initially, disruptions in the supply chain and closure of hospitality sectors led to a decline in sales. However, consumer awareness about health and sustainability boosted demand for vegan wines. Online sales surged, compensating for losses, and the market adapted by emphasizing digital presence and eco-friendly practices.

• The Vegan Wine Market in Russia and Ukraine faced severe disruption due to the ongoing conflict. Supply chains were disrupted, leading to shortages and price hikes. Economic instability further dampened consumer spending, affecting sales and profitability. Companies grappled with uncertainty, making strategic planning challenging. Swift recovery efforts and adaptive business strategies were imperative to navigate the crisis.

Geographically, in the global Vegan Wine market share, North America is analyzed to grow with the highest CAGR of 11.4% during the forecast period 2024-2030. Rising health consciousness and an increased focus on sustainable and ethical consumption have significantly influenced North American consumers. This growth is propelled by an increasing number of consumers in North America opting for vegan lifestyles and demanding ethical and sustainable products. Every year interest in plant-based eating grows in the United States. According to a study done by Vegetarian Times, 9.7 million Americans follow a vegetarian diet, with about one million of those being vegan. 59% of plant-based eaters in the United States are female, with 41% being male. Winemakers catering to this trend by producing high-quality vegan wines have found a receptive market in North America, driving the segment's rapid expansion. Furthermore, the region's strong distribution networks and marketing strategies have contributed to the widespread availability and acceptance of vegan wines among consumers, fostering its growth in the market. 

In the Vegan Wine Market analysis, the sparkling wine segment is estimated to grow with the highest CAGR of 10.7% during the forecast period. This rapid growth can be attributed to changing consumer preferences and evolving drinking habits. Sparkling wines are often associated with celebratory occasions, and their popularity has surged due to a cultural shift towards more frequent and casual celebrations. Additionally, the versatility of sparkling wines in various cocktails and mocktails has expanded their appeal, driving higher demand. Moreover, the perception of sparkling wines as a sophisticated and trendy choice has attracted younger consumers, further boosting its market growth. These factors, combined with a rising interest in vegan options, have propelled Sparkling Wine to become the fastest-growing segment in the Vegan Wine Market.

According to the Vegan Wine Market forecast, the bottle segment held the largest market share of more than 55% in 2023. This dominance can be attributed to several factors, including consumer perception, preservation quality, and premium branding. Bottles are widely perceived as a traditional and high-quality packaging option, symbolizing authenticity and premium products. Additionally, bottles provide better preservation of wine quality, especially for delicate Flavors, ensuring a superior tasting experience. UK brand Virgin Wines has reported that its vegan wine sales rose from 1,149,869 to 1,735,730 bottles between 2019 and 2021. The market also caters to the premium segment, where consumers often associate bottled wines with higher quality and sophistication. Consequently, winemakers and consumers alike Favor the bottle packaging for vegan wines, contributing to its dominance in the market.

The rising health consciousness among consumers is a pivotal driver propelling the demand for vegan wines. With an increasing awareness of the benefits associated with organic and vegan products, consumers are making mindful choices. This shift reflects a broader trend toward healthier lifestyles. Vegan wines, free from animal-based products and made organically, align perfectly with these health-conscious preferences. As individuals prioritize wellness and ethical consumption, the demand for vegan wines continues to surge, making them a preferred choice in the evolving market landscape.

Professionals in the fields of design, architecture, and construction are searching for innovative and cost-efficient methods for flooring creation. This desire for stylish options has resulted in the widespread use of wide plank Vegan Wine, which offers savings of 50% compared to traditional hardware flooring and has an average lifespan of 20 years. Additionally, these are very easy to install as well and they come with superior cleanability and stain resistance. The 2023 edition reviews more than 50 health-related indicators from the Sustainable Development Goals (SDGs) and WHO’s Triple Billion targets, with a focus on the impact of the coronavirus disease 2019 (COVID-19) pandemic. 

Winemakers are embracing cutting-edge techniques to craft vegan wines that maintain exceptional taste and quality. By leveraging innovative methods, they ensure a diverse range of vegan wine options, appealing to a broader consumer base. This commitment to innovation not only preserves taste but also enhances the overall quality of vegan wines. As a result, consumers are increasingly drawn to these innovative, high-quality offerings, driving the growth of the vegan wine industry. For instance, In January, 2023 SPAR UK has made its full range of own brand wines suitable for vegans. This move comes after a pledge the business made in 2019 to become the first grocer to do so. SPAR UK has made the move to ensure its own label range of 70 products is more inclusive and accessible for the growing number of shoppers exploring vegan food and drink.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Vegan Wine Market. The top 10 companies in this industry are listed below:

1. O'Briens Wine

2. Pure Wines Ltd.

3. Frey Vineyards

4. The Vegan Vine

5. Bonterra Organic Vineyards

6. lumos wine company

7. Bodegas Garciarevalo

8. Atlantik Imports

9. Natura Wines

10. Red Truck Wines