(MENAFN- Ameliorate Digital Consultancy)
The red wine market revenue surpassed US$ 78 Bn by 2021, experiencing a long-term surge at a CAGR of over 5% until 2032. According to Fact.MR's analysis of the red wine industry was worth approximately US$ 75 Bn in 2020. Consumers are showing a greater inclination toward Shiraz and merlot wines, holding 13% of the revenue share.
Prominent regions are likely to capture governing share in the revenue contribution. Especially, Europe and North America owing to the growing sales of alcohol in the regions.
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Which Factors are Stimulating Demand for Red Wine across Geographies?
Red wine has quickly become one of the most popular alcoholic beverages across the globe. This is due in part to the many health benefits that come with moderate consumption of red wine, such as reducing the risk of heart disease and stroke and helping to prevent type 2 diabetes. Additionally, the unique flavor of red wine has made it an attractive choice for many people looking for a beverage to enjoy with a meal. But what factors are stimulating demand for red wine across geographies?
One of the main reasons for the increased demand for red wine is the fact that it is now widely available in many countries. This is due to increased global trade, which has allowed countries to access wines from all over the world. Additionally, the increasing popularity of wine bars and restaurants has made it easier for people to access a wide variety of different wines. Furthermore, the increasing popularity of online stores has made it easier for people to purchase wines from different countries without having to travel.
Another factor stimulating demand for red wine is the fact that it is seen as a healthier alternative to other alcoholic beverages. The antioxidants found in red wine, such as resveratrol, have been linked to many health benefits, making it an attractive choice for health-conscious consumers. Additionally, red wine is often seen as a more sophisticated beverage than other alcoholic drinks, which may make it a more appealing option for those looking for a unique experience.
Finally, the increasing popularity of regional wines has also contributed to the growth of the red wine market. As more people become aware of the unique tastes associated with different regions, they are more likely to try wines from those areas. This is especially true for countries such as Italy, France, and Spain, where regional wines have become a key part of the culture.
In conclusion, there are a number of factors that are stimulating the demand for red wine across geographies. The increased availability of wine, the perception of it as a healthier option, and the increasing popularity of regional wines are all contributing to the growth of the red wine market.
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The global market is highly fragmented with the presence of a large number of local and regional players. Market players are concentrating on product launches to broaden their market footprints.
In March 2021, Australia-based Accolade Wines has acquired Rolf Binder Wines of Barossa Valley in north-east Adelaide, Australia, for an undisclosed sum. Established in 1955, Rolf Binder Wines produces a wide range of highly acclaimed premium Barossa wines using fruit from its vineyards. In January 2021, E. & J. Gallo Winery announced the acquisition of more than 30 wine brands from Constellation Brands, Inc. The closing of the agreement between Gallo and Constellation was approved by the Federal Trade Commission on December 23, 2020. In September 2021 , TWE introduced a four-strong Penfolds-branded red wine lineup made primarily from Napa Valley Cabernet parcels. The two higher-priced California Collection expressions are blended with a lower amount of South Australian Shiraz, so they aren't entirely Californian.
Key Companies Profiled:
Accolade Wines Australia Limited Casella Family Brands Caviro Viña Concha y Toro SA Constellation Brands Diageo Plc E&J Gallo Winery Grupo Peñaflor The Wine Group Treasury Wine Estates
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Key Segments in Red Wine Industry Research
By Product Type :
Shiraz Merlot Cabernet Sauvignon Pinot Noir Barbera Blaufränkisch Bordeaux Cabernet Franc Germanyny Other Red Wines By Body Type :
Light Bodied Medium Bodied Full-Bodied By Sweetness Level : By Sales Channel :
Modern Trade Grocery Stores Convenience Stores E-commerce Platforms Other Retail Formats
Key Questions Covered in the Red Wine Market Report
What is the projected value of the Red Wine factors Industry in 2022? At what rate will the global Red Wine factors market size grow until 2032? Which are the factors hampering the growth of Red Wine factors? Which region is expected to lead in the global Red Wine factors market By 2032? Which are the factors driving the Red Wine factors Industry during the forecast period? What is the expected market value of the Red Wine factors market during the forecast period?
Regional Analysis For Red Wine Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) North America (USA, Canada and Mexico) South America (Brazil, Chile, Argentina, Rest of South America) MEA (Saudi Arabia, United Arab Emirates, South Africa)
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