New York, USA, April 26, 2022 (GLOBE NEWSWIRE) -- As per Research Dive’s latest report, the global red wine market is anticipated to rise at a stable CAGR of 6.60%, thereby garnering a revenue of $2,42,822.34 million in 2021 to 2028 timeframe. This newly published report by Research Dive provides a brief overview of the contemporary nature of the red wine market including its cardinal aspects like growth drivers, growth opportunities, restraints, and hindrances during the forecast period of 2021-2028. All the vital market indicators are also provided in this report to help new entrants gain insights about the market easily.
| Historical Market Estimations | 2019-2020 |
| Base Year for Market Estimation | 2020 |
| Forecast Timeline for Market Projection | 2021-2028 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
Dynamics of the Red Wine Market:
Drivers: Over the years, there has been an increasing prevalence in the consumption of premium red wines. This consumption pattern is expected to boost the red wine market to a great extent in the forecast period. Moreover, the growing demand for organic red wines is also expected to further help the market grow during the forecast period.
Grab an Access to the PDF Sample of Red Wine Market@ https://www.researchdive.com/download-sample/8505
Opportunities: The biggest growth opportunity for the red wine market comes from the fact that many key players in this market are entering into strategic alliances. Along with this, there is a rising demand for premium ingredients in red wines. These two factors are expected to offer huge growth opportunities to the market during the analysis timeframe.
Restraints: High cost associated with red wine is a major restraint in the full-fledged growth of the red wine market.
Impact of Covid-19 on the Red Wine Market:
The covid-19 pandemic and the subsequent lockdowns have impacted industries across various sectors like never before. In today’s age of globalization, many industries have faced the problems of managing supply chains and production cycles. The red wine industry, like most other industries, has been negatively impacted due to the pandemic. The main reason behind this negative impact is the fall in demand, supply chain disruptions, and market instability. Moreover, due to lockdown, many of the restaurants, hotels, pubs, were closed which further affected the red wine industry.
However, the red wine industry has found an unexpected friend in the form of medical research industry. Research is underway in China Medical University, where it has been found that certain ingredients of red wine might in fact help in fighting against Covid-19. The market analysts, hence, predict that the market will grow by 2028 as a result of future investments into the red wine market.
Post COVID-19 Pandemic has Remarkable Growth by 2028 in the Red wine Market. Connect with Expert@ https://www.researchdive.com/connect-to-analyst/8505
Segments of the Red Wine Market:
The report has divided the market into segments based on type, sales channel, and region.
Type: Merlot Sub-segment to Have the Highest Market Share
The merlot sub-segment is expected to have a dominant market share and garner a substantial revenue of $64,640.49 million by 2028. Of all the types of red wine, merlot is the most preferred type due to its rich red color and rich composition of antioxidants. When consumed in appropriate amounts, merlot red wine is known to be good for the heart and gut health. These factors have helped this sub-segment to capture such a dominating market share.
Sales Channel: On-trade Sub-segment to Have the Fastest Growth
The on-trade sub-segment is predicted to be the fastest growing sub-segment of the red wine market and is expected surpass $1,17,090.59 million by 2028. The increasing party culture among the young generations and frequent celebrations by the youth have increased the demand for red wine. Furthermore, as lockdowns are getting lifted, many restaurants, pubs, etc. are restarting their businesses. Both these factors have a major role to play in this sub-segment’s high growth rate.
Region: Red Wine Market in North America Region to be the Most Dominant
The market in North America region is expected to have the largest market share in the red wine market. It is expected to generate a revenue of $98,343.05 million by 2028. The existence of leading companies and the high level of disposable incomes of the people in this part of the world are the two main factors behind such a dominant market share. Also, US, Canada, and other countries of this region have a rich and exquisite wine culture which also helps the red wine market in North America region to be the most dominant one.
Request an On-demand Customization of Red Wine market Research Report & Avail 10%OFF@ https://www.researchdive.com/request-for-customization/8505
Prominent Red Wine Market Players:
Some prominent market players in the red wine market are
The Wine Group
Brown-Forman
Treasury Wine Estates Limited
E&J Gallo Winery
Castel Group
Remy Cointreau SA
Diageo plc
Altria Group Inc.
Constellation Brands Inc.
Heineken N.V., among others.
These players are adopting numerous business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market. – Inquire here@ https://www.researchdive.com/purchase-enquiry/8505
For instance, in January 2021, E&J Gallo Winery, a family-owned winery, in January announced the acquisition of popular wine brands like, Taylor, Clos du Bois, Hogue, Wild Horse, Arbor Mist, Ravenswood, Manischewitz etc. The main aim behind this acquisition spree by E&J Gallo Winery is to expand its market worldwide and expand the company’s portfolio.
Finally, this extensive report also summarizes many crucial aspects of the red wine market including SWOT analysis, latest strategic developments, product portfolio, and financial performance of the key players.
Some Trending Article Links:
Analyst Review: Global Red Wine Market to Witness an Exponential Growth by 2028 due to the Demand and Popularity of Premium and Flavored Wines
Blog: Red Wine: An Outcome of Blending Nature’s Product to Make Human Life Disease-Free
