The Red wine is produced by fermenting the dark colored grapes and the color of the red wine varies from light to dark depending over the acid present in the wine. The older the wine the darker the color, this occurs due to the reaction between the molecules present in the wine with aging. Much of the red-wine production process; therefore, involves extraction of color and flavor components from the grape skin. It is a delicacy around the world. 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. The cabernet sauvignon wine segment led in terms of the red wine market share in 2020, and is expected to retain its dominance during the forecast period.
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COVID-19 impact analysis
- The on-trade segment of the red wine market was impacted severely due to the pandemic owing to the closure of hotels and restaurants across the globe in an attempt to prevent the spread of coronavirus.
- Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global red wine industry for food service segment is expected to stabilize after 2021.
Leading Key Players:
The Carlyle Group
Brown-Forman
Campari Group
Castel Winery Plc.
Caviro sca
Constellation Brands, Inc.
Rรฉmy Cointreau
The Wine Group
Treasury Wine Estates Viรฑa C
oncha y Toro
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Segmentation:
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 Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging red wine market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing red wine market opportunities in the market.
- The red wine market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable red wine market growth.
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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.
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๐๐ฏ๐ผ๐๐ ๐จ๐
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