Wine Fining Agent Market to See Incredible Growth by 2031 | TMR's Study

Wine Fining Agent Market Outlook 2031
The global wine fining agent market was valued at US$ 636.6 Mn in 2021
It is predicted to grow at a CAGR of 5% from 2022 to 2031
The global wine fining agent market is expected to cross value of US$ 1 Bn by the end of 2031

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Wine Fining Agent Market: Overview

The global wine fining agents market is currently valued at US$ 636.6 Mn and is expected to grow at a CAGR of 5% for the forecast period of 2021-2031.
South Asian market for wine fining agents is valued at US$ 34.8 Mn in 2021 and is expected to reach US$ 57 Mn by 2031.
Based on agent type, bentonite holds a majority volume share of nearly 45% with 16,876.2 metric tons followed by animal-sourced fining agents covering the market share with 30%. The overall volume-based agent type segment is expected to grow at a CAGR of 3.7%.

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In Latin America, Chile holds the largest market share in the wine fining agent market that is US$ 26.7 Mn, followed by Brazil US$ 16.9 Mn and Mexico US$ 11.8 Mn. The region exhibits the highest volume CAGR of 4.8% during the forecast period for wine fining agents attributable to the increased spending of the consumers on premium wines and the increasing number of working-class professionals in this region.

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Wine Fining Agent: Market Frontrunners

Based on wine type, red wine holds a value share of more than 60% of the overall market. The use of wine fining agents in red wine is valued at US$ 400.3 Mn in 2021 and is expected to reach US$ 669.7 Mn by 2031.
Based on agent type, Polyvinylpolypyrrolidone (PVPP) has the highest value CAGR of 6.4%. The use of PVPP in wine fining is expected to increase and reach US$ 159.86 Mn by 2031.
Oceania's market for wine fining agents is expected to grow with a CAGR of 5.8%. The region holds nearly 12% of the global consumption of wine fining agents as it is one of the major wine producers in the world.
Improvement in the economic conditions of various countries has led to increased disposable incomes and higher standards of living, which have contributed to the rising trend of premiumization and consumption of alcoholic beverages.

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Expanding Urban Population to Bolster the Sale of Wine Fining Agents: The world's urban population increased to 4.03 billion in 2016 from roughly 3.6 billion in 2006, accounting for nearly 54.3 percent of the global population. Over the forecast period, year-on-year (Y-o-Y) growth in the urban population is expected to be around 1.0 percent. The global alcohol market is predicted to rise due to an increase in urban population, as well as factors such as rising disposable income, modernization, and a growing desire for alcoholic beverages.
Individuals, particularly those in urban areas, are drawn to nightlife and club culture. This can be related to millennials' increased use of the internet and social media, as well as western culture's growing influence. As a result of these causes, the number of clubs, lounges, and bars is growing, particularly in emerging countries. The increasing demand for alcoholic beverages is expected to drive the demand for winemaking ingredients.

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