0

Red Wine Market is Expected to Reach 278.5 Billion by 2028-Allied Market Research

 
2022
Red Wine Market

Report Code : A13400

quote New wine procuts such as organic, biodynamic, and sustainable wines are being introduced in the market and are likely to shape the wine market in the coming years. quote

Shankar Bhandalkar
Team Lead-Research, Food & Beverages at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Red Wine Market by Product Type, Pricing, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The red wine market size was valued at $182.0 billion in 2020, and is projected reach $278.5 billion by 2028, registering a CAGR of 5.4% from 2021 to 2028.

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. 

Recent years have seen consumer inclination toward organic, natural, and GMO free products. As a result, demand for organic red wine has gained huge popularity particularly in the last few years. Leading players are continuously upgrading their product offerings with organic and Non-GMO certified wine thus fostering the red wine market growth. For instance, Schramsberg Blanc de Blancs unveiled organic red wine. These wines are USDA Certified Organic and non-GMO Project verified red wine made without any chemicals or fillers. On the similar lines, the key players have started the production of organic wines to cater burgeoning demand for non-GMO and organic wines. In addition, Europe is already the largest producer of organic wines and it has 90% of the global wine growing organic area. Spain, Italy, and France are the top wine producers and with the rise in focus toward organic wine and they produce about 79% of the wine together. Therefore, as many key players are adopting the production of organic red wine, the consumption of healthy organic red wine is estimated to gain traction in the near future which is projected to propel the growth of the red wine market.

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.

The global red wine market has been partly impacted amidst the outbreak of the coronavirus. The COVID-19 pandemic resulted in a lockdown and widespread restrictions across the world. In addition, both the on trade segment of Red wine got majorly impacted due to the lockdown as the HORECA industry were not functional during the lockdown phase which resulted in major fall in demand for red wine from on trade segment during the lockdown period. Furthermore, recent development in a resurgence of the second wave of coronavirus in Asia-Pacific is one of the major challenges the industry is expected to face in the coming days.

The red wine market is segmented on the basis of product type, pricing, distribution channel, and region. By product type, the market is categorized into cabernet sauvignon wine, merlot wine, syrah/shiraz wine, and others. By pricing, the market is divided into mass and premium. By distribution channel, the market is categorized into on-trade and off-trade. Region wise the market is categorized into North America (U.S., Canada and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Portugal. and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

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.

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.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote 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 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample
rep-img

Published Date Oct 2024

Argan Oil Market

Download Sample
rep-img

Published Date Oct 2024

Cold Plasma Market

Download Sample
rep-img

Published Date Oct 2024

Auto Gas Market

Download Sample

Buy Full Version
"Red Wine Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers