I've been trying to research the size of the global fine wine market (in terms of annual sales) but have not found readily available research reports on the topic. While there are reports estimating the U.S. wine market at $28-$30 billion annually, none that I've found provide any relevant segmentation that removes mass market wines. Therefore, I thought I would pose this question to readers to see if a group collaboration could help answer it.
What is "fine wine"?
For the purposes of answering this question, let's define "fine wine" as any wine which retails upon release at $50 or more (per 750ml). As some of your probably know, most market segmentations stop at $20 a bottle on the high end with that price point often described as the "super-premium, luxury" category (I'm not sure which dictionary they are using).
One "brute force" methodology
- Identify all top producers of "fine wine" globally
- Estimate average annual production levels per producer per wine
- Multiply by an average retail price per wine
Your thoughts
How would you approach answering this question? Or better yet, is there some existing research report which already does it?
