According to Statista, the Canadian wine market is expected to reach $16,805 million USD in 2021. The market is expected to grow annually by 5.70% (CAGR 2021-2025). In relation to total population figures, per person revenues of $441.44 USD will be generated in 2021. The average per capita consumption stands at 16.0 L. With the rise of alternative wine formats coming into the market (cans, boxed wine), what do brands need to keep top-of-mind when they venture into new product development?
All things considered, taste is the clear deciding factor.
From Euromonitor International, still light grape wine continued to dominate sales of wine in 2019, and also maintained solid total volume growth. Although still red wine remained the largest category within wine, followed by still white wine, it was rosé wine which continued to see the strongest total volume growth in 2019, due to its low base and the widening range of products available.
With this in mind, Caddle asked: What do consumers care about in their wine?
Well, taste ranks as the number one consideration across all wine categories. Taste leads by up to 3x more than the second most important factor: where it is made. Interestingly, consumers that purchase iced wine consider where it is made about 10 basis points more than the other wine categories.
As it stands, other factors such as sustainable packaging, calorie count, organic/gluten-free, format/sizes, and brand’s reputation have little impact on the consumer decision-making process. When it comes to wine, taste is at the forefront of consumers’ minds.
The future is female when it comes to taste
When we compare differences between men and women, women take the lead for every category of wine in terms of taste influencing their purchase decision. On the other hand, men comparatively care more about where the wine is from.
From the following options, what is most important to you when you consider purchasing…
Brands that differentiate on taste will be able to claim their stake in the Canadian wine market. Women are leading the charge for the wine category when it comes to the importance of taste. Honing in on taste preferences is an important consideration when brands are in product development in the coming years.