Fact.MR in its report on the rose wine market suggests that it could grow to a value of approx. US$ 78 billion by end 2022 – witnessing a modest CAGR of 2.7%.
[EUPRwire, Wed Sep 25 2019] The report studies the red wine market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on global red wine market insights to its wide online database including upcoming trends and market growth factors through 2022. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.
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Changing consumer habits, a rising disposable income, increased urbanization, and the preference for wine at large events or social gatherings all paint a bright future for the global red wine market. Red wine is equally sought after by both the geriatric population for its purported health benefits and the millennial population in place of other ‘hard drinks’. Wine consumption has shown marked growth across the world and the production of wine is more evenly spread across developed and emerging markets now, from the initial dominance of the former. Technological advancements have also played a key role in innovative new flavors being made available in the red wine market.
Red wine is largely derived from darker colored grape varieties and the color can range from a deep red to an intense violet or even a shade of dark brown, depending on the wine’s age. The color of red wine comes from anthocyanin pigments found in the grape skin. Red wine production usually comprises extracting both the color and flavor from the grape skin. Fact.MR in its report on the rose wine market suggests that it could grow to a value of approx. US$ 78 billion by end 2022 – witnessing a modest CAGR of 2.7%.
Shiraz and Merlot Most Popular Products in the Red Wine Market
Shiraz and Merlot are the two most popular products as both have a revenue share in excess of 13% in the red wine market. The Shiraz wine segment is anticipated to be worth almost US$ 11.7 billion by end 2022 and key stakeholders in the red wine market are recommended to take note of this. With respect to Merlot, Europe alone accounts for more than half the regional contribution in the red wine market and is projected to retain its share throughout the duration of the forecast period.
A similar market opportunity exists in the Cabernet Sauvignon and Pinot Noir product segment in the red wine market as both have a roughly equal contribution. Even though Europe is the largest region in the Cabernet Sauvignon segment by a considerable margin, companies could seek to diversify by targeting Latin America as the region is predicted to grow with the highest CAGR of 4% from 2017 to 2022. With respect to Pinot Noir wines, APEJ is the second-most lucrative region after Europe.
Modern Trade Segment Lucrative Channel in the Red Wine Market
The modern trade segment represents a revenue share of over 1/3rd the red wine market making it a segment too large to ignore. The modern trade segment in Europe is larger than that of North America, Latin America, and APEJ combined, making it perfectly understandable if companies decided to focus all their attention on this dynamic region in the red wine market.
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Fact.MR has profiled some of the prominent companies in the red wine market which are 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, and Treasury Wine Estates.
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