*Associate Professor & Hod, School of Hotel Management and tourism, lovely professional university, jalandhar, punjab, india.
**Assistant Professor, School of hotel management and tourism, Lovely Professional University, Jalandhar, Punjab, India.
The wine industry has a long history that dates back to early human history, when fruit juices accidentally fermented, leaving behind a pleasant drink for people to enjoy to the present. The second decade of rapid globalization of the wine industry is assessed using a newly published statistical compendium of global wine markets. A dozen observations are made from those data offer insights into key new opportunities and challenges associated with recent globalization forces. A snapshot of the value, both nationally and globally, of various quality segments of the world's wine markets as of 2009 also is examined. That view of market segments is important for developing a baseline for models used to assess future prospects for different types of grape and wine producers. The paper finishes by briefly discussing prospects for further developments in wine's globalization.
Development in wine market, Alcohol taste changes, Challenges
