Red Wine Market is Expected to Grow at a CAGR over 3.6% From 2017 to 2023

Market Research Future published a Half Cooked Research Report (HCRR) on Global Red Wine Market which is estimated to grow more than 3.6% during the period 2017-2023

Market Overview

The increasing sale of red wine is driven by changing consumer’s preference in alcoholic beverages. Rising consumption of alcoholic beverages with low calorie content is likely to drive the market for various red wine varieties increasing its sale in the wine market. Technology advancements in developed regions has led to the innovation in flavors of red wine by fortifying the major types of red wine. The high anti-oxidant content which lower the cell ageing has supported the sale of red wine globally. High focus on research and development of the alcoholic beverage industries has influenced the positive growth rate of the market. The consumption of Red Wine is found to be high in Europe and is evaluated to increase at a positive growth rate in various countries of North America and Asia-Pacific region.

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Competitive Analysis-

The Major Key Players in Red Wine Market are

• Caviro (Italy)
• Viña Concha y Toro S.A. (Chile)
• E & J Gallo Winery (U.S.)
• Constellation Brands, Inc. (U.S.)
• The Wine Group (U.S.)
• Treasury Wine Estates (Australia)
• Grupo Peñaflor S.A. (Argentina)
• Diageo plc (U.K.)

Alcoholic beverage manufacturers across various regions follow the strategy of improving their existing product line as well as add more value to their products by adding new innovations to expand their business. This is one of the major factors due to which the demands of red wine are experiencing a surge. In Europe, France is amongst the dominating countries holding a major share in red wine market and exports the product in various other countries which include U.S., China, Germany, Belgium, U.K. and others.

Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 110 numbers of pages of the project report “Red Wine Market - Forecast to 2023”

Market Forecast

Globally, the red wine market share is estimated to escalate at a higher growth rate than white wine due to its rich resveratrol content which imparts anti-ageing properties. The high consumption of red wine is backed up by it property to lower cholesterol level in the body when consumed in right quantity. The rising demand for low calorie red wine in the market is supporting its sale on a global level. Rapid urbanization has also supported in fueling up the market share of red wine all around the globe.

All these factors contribute to the calculated CAGR of 3.6% of Red Wine market during 2017-2023.

Downstream Analysis-

Consumption of still wine is growing at significant rate based on its rich and authentic wine flavor. However, the sale of sparkling red wine varieties is evaluated to be growing prominently. The high alcohol content of dry wine makes it popular amongst the consumers of Europe while the medium and sweet varieties of wine is found to be more popular in Asia-Pacific and North America region. In addition, similarly the sale of Light wine body type of wine is anticipated to hold a lion’s share during the forecast period.

The rich flavor and aroma of Cabernet Sauvignon makes its share significant in the red wine market followed by Merlot red wine. The high popularity and wine drinking trend in Europe region has increased the consumption and sale of red wine in various countries of the region.

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Regional Analysis

The Global Red Wine Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe holds a major market share followed by North America. The high demands for red wine as a popular alcoholic drink from the developed countries of these regions is contributing to the positive growth of red wine market. U.S., U.K., Germany, China and Canada are the major importers of Red Wine. Europe is found to be the major exporter of red wine and exports majorly to countries of North America and Asia-Pacific.

Market Segmentation-

Global Red Wine market is segmented by Red Wine-Type, Taste, Wine Body-Type, Product-Type and Region

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Akash Anand,
Market Research Future
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Email: akash.anand@marketresearchfuture.com

This release was published on openPR.