Red Wine Market Size, Share, Industry Trends, Industry Growth, Top Key Player and Outlook - 2028

Allied Market Research published a report, titled, "Red Wine Market by Type (Cabernet Sauvignon Wine, Merlot Wine, Syrah/Shiraz Wine, and Others), Pricing (Mass and Premium), and Distribution Channel (On-trade and Off-trade): Global Opportunity Analysis and Industry Forecast, 2021-2028." According to the report, the global red wine industry was estimated at $182.0 billion in 2020, and is anticipated to hit $278.5 billion by 2028, registering a CAGR of 5.4% from 2021 to 2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/13769

Red wine is an alcoholic beverage which is produced by fermenting the dark grapes and the color of the red wine vary from light to dark depending over the acid present in the wine. The color of the wine determines the age of the red wine. The darker the color the older the wine; this occurs due to the reaction between the molecules present in the wine due to aging.

Nevertheless, the red wine industry faces multiple challenges including but not limited to consumer shift toward the wine alternatives. Few decade back the consumers used to be either the wine consumer or the beer consumer but with the change in tradition and consumption pattern due to the broader societal change consumers are now preferring all types of alcohol beverages depending on the time and occasion. In addition, in the wine industry the consumption of red wine is only of 54% whereas the 10% consumption is of rose wine and 36% share is of white wine, which are also the substitute of red wine. Furthermore, red wine occupies 11.9% of the alcoholic beverages market share which shows that there are multiple substitutes for red wine and the consumers are willingly consuming other alcoholic beverages which is hampering the growth of the red wine market.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/23e2c53144ecd2f4fd1612b8bebd8b12

Some of the major players profiled in the red wine market analysis include The Carlyle Group, Brown-Forman, Campari Group, Castel Winery Plc., Caviro sca, Constellation Brands, Inc., Rémy Cointreau, The Wine Group, Treasury Wine Estates, and Viña Concha y Toro.

Based on pricing, the mass segment contributed to nearly three-fourths of the global red wine market revenue in 2019, and is projected to dominate by 2028. The local or domestic player need not have to pay taxation on import or export of alcoholic beverages. This is because the production is done within the domestic territory of the country. It targets the mass pricing segment of the customer in alcoholic beverages. This factor fuels the growth of the segment. The premium segment, however, would grow at the fastest CAGR of 6.8% from 2021 to 2028. Consumption of red wines blended with different other flavored wines has become quite popular among the millennial and young-adults. And, this is generally made by using wines of premium brands to add a perfect taste and texture in the drink. This factor drives the growth of the segment.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/13769

Increasing on-premise consumption and rapid premiumization drive the growth of the global red wine market. On the other hand, counterfeited wines and presence of alternative markets hamper the growth to some extent. However, growing preference for organic & biodynamic wine is expected to create lucrative opportunities in the industry.

Key Findings Of The Study

By product type, the cabernet sauvignon segment will remain the mostly demanded red wine in the market, and is expected to gain market share in the coming years.

By distribution channel, the off trade segment is the dominating segments for Red wine and it is expected to gain market share in the coming years.

By region, Europe dominates in terms of the global Red wine market share, and is expected to retain its dominance during the forecast period.

Red wine market trends are inclining more towards organic and biodynamic red.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/13769

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