Red Wine Market: Future Forecast Indicates Impressive Growth Rate Till 2022 with Top Key Companies Accolade Wines Australia Limited., Casella Family Brands, Cavrio, Concha y Toro

Discerning consumer tastes, a rising disposable income, increased urbanization, and the popularity of different wine varieties for all sorts of social events and gatherings directly benefit the red wine market. Red wine finds a ready customer base in both the younger as well as older demographic as a substitute for ‘hard drinks’ and a healthy lifestyle alternative respectively. Wine consumption and production has noticeably increased in emerging markets and technological advancements in developed ones have given rise to new and unique flavors and textures in the red wine market.

According to Fact.MR, the red wine market is likely to record a modest CAGR of 2.7% from 2017-2022 and grow to just over US$ 77 billion by the end of the study.

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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.

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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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This release was published on openPR.