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This question is about wine industry statistics.
Is the wine industry profitable?
Yes, the wine industry is profitable. In 2020, the global wine industry earned over $350 billion in revenue despite a year of decreased sales for many industries due to the COVID-19 pandemic. The industry's annual revenue is only expected to increase, hitting $450.7 billion by 2026.
In the U.S., the wine industry earned $49.8 billion in 2020. France followed close behind, earning $25.4 billion, and China earned $22.1 billion.
If you're planning to start a winery, just be prepared not to see profits for several years.
This is because not only do you have to go through the process of growing your grapes, harvesting them, and making the wine, which can take several years, but you also have to go through the growing pains all small businesses do before they make a profit.
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