Press release
Red Wine Market Value Projected to Expand by 2028
Red Wine
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Red wine is largely derived from darker colored grape varieties and the color can range from a deep red to an intense violet or even a shade of dark brown, depending on the wine’s age. The color of red wine comes from anthocyanin pigments found in the grape skin. Red wine production usually comprises extracting both the color and flavor from the grape skin.
Fact.MR in its report on the rose wine market suggests that it could grow to a value of approx. US$ 78 billion by end 2022 – witnessing a modest CAGR of 2.7%.
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Shiraz and Merlot Most Popular Products in the Red Wine Market
Shiraz and Merlot are the two most popular products as both have a revenue share in excess of 13% in the red wine market. The Shiraz wine segment is anticipated to be worth almost US$ 11.7 billion by end 2022 and key stakeholders in the red wine market are recommended to take note of this. With respect to Merlot, Europe alone accounts for more than half the regional contribution in the red wine market and is projected to retain its share throughout the duration of the forecast period.
Similar opportunity in Cabernet Sauvignon and Pinot Noir Products
A similar market opportunity exists in the Cabernet Sauvignon and Pinot Noir product segment in the red wine market as both have a roughly equal contribution. Even though Europe is the largest region in the Cabernet Sauvignon segment by a considerable margin, companies could seek to diversify by targeting Latin America as the region is predicted to grow with the highest CAGR of 4% from 2017 to 2022. With respect to Pinot Noir wines, APEJ is the second-most lucrative region after Europe.
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Modern Trade Segment Lucrative Channel in the Red Wine Market
The modern trade segment represents a revenue share of over 1/3rd the red wine market making it a segment too large to ignore. The modern trade segment in Europe is larger than that of North America, Latin America, and APEJ combined, making it perfectly understandable if companies decided to focus all their attention on this dynamic region in the red wine market.
Competition Dashboard
Fact.MR has profiled some of the prominent companies in the red wine market which are Accolade Wines Australia Limited, Casella Family Brands, Caviro, Viña Concha y Toro SA, Constellation Brands, Diageo Plc, E&J Gallo Winery, Grupo Peñaflor, The Wine Group, and Treasury Wine Estates.
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Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR.
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