Investors may want to keep an eye on the wine industry.
A recent report from Fortune Business says the global wine market was worth $339.53 billion in 2020. From there, it’s expected to grow to $456.76 billion by 2029.
“The demand and consumption of the drink has been held up in most of the markets worldwide. The biggest impact has been in the way the consumers bought it, as consumers gradually shifted towards purchasing the drink online,” added Fortune Business.
That could be beneficial for top wine companies, such as Gaucho Group Holdings Inc. (NASDAQ: VINO), LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY), Vintage Wine Estates (NASDAQ: VWE), Constellation Brands (NYSE: STZ), and Brown-Forman Corp. (NYSE: BFB).