Red Wine Global Market Report 2024 - By Size, Share, Growth, Trends, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Red Wine Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $136.77 billion In 2028 At A CAGR Of 5.2% :
The red wine market size has grown steadily in recent years. It will grow from $106.52 billion in 2023 to $111.84 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to cultural and tradition, growth of wine tourism, evolving consumer preferences, growing popularity of wine as a social drink, wine's association with health benefits.

The red wine market size is expected to see strong growth in the next few years. It will grow to $136.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to rising disposable income and greater urbanization, increasing proportion of millennials, changing consumer preferences and acceptance of alcoholic beverages, shifting global demand and climate change, growth of online sales and direct-to-consumer channels . Major trends in the forecast period include premiumization of wine, natural and minimalist winemaking, technology and wine apps, wine and food pairing, alternative packaging.

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Red Wine Market Major Segments
The red wine market covered in this report is segmented -
1) By Type: Sparkling Red Wine, Still Red Wine
2) By Packaging Type: Bottles, Cans
3) By Distribution Channel: Food Service, Retail

Key Driver - Rising Health Awareness Fuels Growth In The Red Wine Market
The increasing health awareness among consumers is expected to propel the growth of the red wine market going forward. Healthy eating has become the norm, with most consumers demanding foods and beverages to meet progressively nuanced health and wellness, ethics, and sustainability criteria. The powerful plant compounds found in red wine have been linked to several health benefits, including reduced inflammation, a lowered risk of cancer, and a longer lifespan. Red wine's alcohol and antioxidants aid to prevent coronary artery disease. For instance, in August 2023, according to Koninklijke DSM N.V., a Netherlands-based health and bioscience company, in response to the pandemic, 60% of consumers worldwide are now more concerned about their health, placing a higher priority on leading healthy lives to avoid health problems. Furthermore, in July 2022, according to reports published by Food Insight, a US-based non-profit organization, 52% of Food and Health Survey participants followed a specific diet or eating pattern, up from 39% in 2021. Therefore, the increasing health awareness among consumers drives the growth of the red wine market.

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Prominent Trend - Rising Demand For Organic Products Shapes The Red Wine Market
The growing popularity of organic products is a key trend gaining popularity in the red wine market. Organic wine is a product that has been certified as organic by the government. Organic wine production must follow strict criteria that cover everything from pesticide usage to land management to storage and preservation. For instance, in October 2021, Gary Barlow, a Spanish winemaker introduced an organic wine called Gary Barlow Organic. The Gary Barlow Organic collection comprises a red and a white wine created from grapes cultivated in certified organic fields in Castilla grown with old, low-yielding bush vines that are dry-farmed.

Red Wine Market Players
Major companies operating in the red wine market include Accolade Wines, Caviro S.C.A., Vina Concha Y Toro S.A., Castel Winery PLC, E. & J. Gallo Winery, Grupo Peñaflor S.A., Diageo plc, Treasury Wine Estates Limited, Constellation Brands Inc., The Wine Group Inc., Campari Group, Brown-Forman Corporation, Amvyx SA, Rémy Cointreau SA, Compagnia Del Vino SRL, Pernod Ricard SA, Trinchero Family Estates, Bronco Wine Company, Vintage Wine Estates, Ste. Michelle Wine Estates, Kendall-Jackson Vineyard Estates, Bodegas Torres, Concha y Toro, Antinori S.p.A., Opus One, Silver Oak Cellars, Caymus Vineyards, Robert Mondavi Winery

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Largest And Fastest Growing Region In The Market
North America was the largest region in the red wine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the red wine market share during the forecast period. The regions covered in the red wine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Red Wine Market Report Structure
3. Red Wine Market Trends And Strategies
4. Red Wine Market - Macro Economic Scenario
5. Red Wine Market Size And Growth
…..
27. Red Wine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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