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Global Wine Fining Agent Market Continues Upward Trend, Surpassing USD 1 Billion with 5% CAGR Growth | TMR Study
Wine Fining Agent Market
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Wine Fining Agent Market: Overview
Wine fining agents are substances used to clarify and stabilize wine by removing unwanted particles, phenolic compounds, and other impurities. These agents improve the wine's flavor, appearance, and shelf life. The demand for wine fining agents has surged, especially in regions with a burgeoning middle class and a growing affinity for high-quality wines.
Key Players
Some of the key players in the market include AEB Group SpA, Agrovin, ATP Group, Dal Cin SpA, Enologica Vason, Erbsloh Geisenheim AG, Enartis, EVER s.r.l., Gusmer Enterprises Inc., LAFFORT, Lamothe-Abiet, Lesaffre, Presque Isle Wine Cellars, Sofralab, Tidal Vision Products Inc., etc.
Key statistics:
• The South Asian wine fining agent market was valued at US$ 34.8 Mn in 2021 and is expected to reach US$ 57 Mn by 2031.
• Bentonite, a widely used fining agent, accounted for 45% of the market share by volume in 2021.
• Latin America, led by Chile, Brazil, and Mexico, exhibits the highest regional volume growth at a CAGR of 4.8%.
Market Frontrunners
Wine Type: Dominance of Red Wine
Red wine commands a value share of over 60% in the global market. The application of fining agents in red wine was valued at US$ 400.3 Mn in 2021 and is expected to grow to US$ 669.7 Mn by 2031.
Agent Type: Polyvinylpolypyrrolidone (PVPP) on the Rise
PVPP, known for its effectiveness in removing phenolic compounds, is witnessing the highest CAGR of 6.4%. Its market value is projected to reach US$ 159.86 Mn by 2031.
Regional Insights: Oceania's Growth Trajectory
Oceania, a leading wine-producing region, holds 12% of global consumption of wine fining agents. The region is poised to grow at a CAGR of 5.8% during the forecast period.
Key Market Trends
1. Expanding Urban Population to Bolster Sales
The global urban population increased from 3.6 billion in 2006 to 4.03 billion in 2016, representing 54.3% of the total population. This demographic shift drives modernization, higher disposable incomes, and a preference for premium alcoholic beverages. The rise in nightlife culture and social gatherings further fuels the demand for winemaking ingredients.
2. Growing Vegan Population and Plant-Based Agents
Veganism is on the rise, creating a demand for plant-based alternatives in wine production. Traditional fining agents like casein, gelatin, and fish proteins are increasingly being replaced by plant-based proteins, catering to the preferences of vegan consumers.
3. Allergen-Free and Chemical-Free Products
Consumers are gravitating towards "free-from" products, including allergen-free and chemical-free options in wine. This trend offers opportunities for manufacturers to develop innovative solutions, meeting the expectations of health-conscious and eco-aware customers.
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Challenges Restraining Market Growth
1. Overuse of Fining Agents
Excessive use of fining agents can lead to incomplete precipitation, visible haze, and potential health risks. Regulatory requirements for labeling such products add another layer of complexity, potentially impacting sales.
2. Emergence of Stabilizer-Free Beverages
Top beverage brands are moving towards stabilizer-free options to align with the clean-label movement. While this shift supports natural and additive-free products, it poses challenges for traditional fining agent manufacturers.
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