Red Wine Market is projected to have a favorable growth at a stellar CAGR over the predicted years (2017-2023). Red wine is one of the most widely consumed alcoholic beverage that is made through crushing and fermentation of dark, whole grapes. It is available in different varieties that vary in color and taste. Consuming red wine in moderation is known to provide an array of health benefits owing to the presence of powerful antioxidants. Aging the fermented wines is what gives it its unique color and this varies from dark brown to brick red. It is stored in big barrels for aging along with increasing the content of alcohol to the needed level. Red wine when consumed in moderation can help in boosting immunity, increase bone density, reduce the chances of stroke, reduces the chances of heart ailments, lowers cholesterol, reduces the chances of type 2 diabetes, reduces the chances of cancer, improve cognitive function, promote longevity and more.
There are many factors that is driving the growth of the red wine market. Some of these factors as per the Market Research Future (MRFR) report include rapid urbanization, different health benefits when consumed in moderation, increasing consumption of wine, high disposable incomes, changing lifestyles, popularity of different wine products in social celebrations, aging population choosing wine over other drinks, rising wine production, increasing consumption by younger generation, demand for alcoholic beverages having low calories and improvisation in both the development and production process of innovative products. On the contrary, factors such as legal regulations laid down by the government, heavy taxation, availability of wine substitutes, growing demand for spirits and craft beer and side effects when consumed in large amounts may hinder the growth of the red wine market.
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Leading players profiled in the Red Wine Market include
- Diageo plc (U.K.),
- Grupo Peñaflor S.A. (Argentina),
- Treasury Wine Estates (Australia),
- The Wine Group (U.S.),
- Constellation Brands, Inc. (U.S.),
- E & J Gallo Winery (U.S.),
- Viña Concha y Toro S.A. (Chile),
- Caviro (Italy) and others.
Feb 2019 – Stellenbosch estate Tokara of late revealed about the launch of its latest flagship red wine which is a culmination of about two decades of effort and work and will be available at 200 dollars per bottle.
Market Research Future report offers an all-inclusive segmental analysis of the red wine market on the basis of type, taste and body-type.
Based on type, it is segmented into sparkling wine, still wine and others. Of these, still wine will have the largest share in the red wine market due to consumers growing inclination for wine and price variability. Sparkling wine on the other hand is expected to have a high growth over the predicted years owing to change in consumers preference.
Based on wine taste, the red wine market is segmented into sweet, medium and dry. Of these, the dry wine will lead the market due to the availability of red wines in assorted varieties. Besides its easy availability has also made it more prominent.
Based on body type, it is segmented into heavy, medium and light. Of these, medium body-type will rule the red wine market. Due to the growing need for red wine, the sale of light body-type is experiencing a growth.
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Based on region, the red wine market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, Europe will have prevalence in the market due to growing amount of globally generated revenue. In Europe, the tradition of consuming red wine has made it easier for the red wine market in penetrating more. Moreover, the vineyards producing every form of red wine made its impact on this market here. Europe has also become popular for exporting wine. Spain, the UK, France and Italy are the key regional market contributors. The red wine market in North America will have the second largest share owing to a massive consumer base and structural benefits that is offering the thrust to this market. In the APAC region the market is the fastest growing. With rise in disposable income an enormous consumer base has developed that has increased the need for red wine. India and China are fast turning market influencers.
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