Rockville, May 19, 2023 (GLOBE NEWSWIRE) -- As per a newly published report on this industry by Fact.MR, a valuation of US$ 82.7 Billion has been anticipated during FY 2022. The global red wine market is projected to grow at a moderate 5% value CAGR, reaching US$ 135 Billion, following an assessment period ranging from 2022-2032.
From 2017-2021, demand for Red Wine flourished at a growth rate of 2.3%, concluding at US$ 78 Billion. This restricted trajectory was largely a result of limited market penetration across several markets coupled with the highest premium nature of wines, rendering them highly expensive.
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Manufacturers are capitalizing on the surging popularity of the organic wine sector, which has seen tremendous growth in recent years. Increased foray towards consuming naturally-derived products is mainly boosting its popularity. Documented benefits upon consumption, including a reduction in cholesterol levels, high antioxidant properties, and elimination of free radicals from the body are all expected to fuel organic red wine consumption.
Key Takeaways from the Market Study
- Global Red Wine market to expand nearly 1.6x from 2022-2032
- By type, shiraz and merlot red wines to hold 13% of global revenue share through 2032
- Sales of sweet red wines are expected to reach US$ 82.7 Bn by 2022, growing at a 4% CAGR through 2032
- Semi-sweet red wines to account for a revenue share exceeding 2/5th across the forecast period
- Light-bodied and full-bodied red wines to account for 9 out of 10 sales until 2032
- North America to capture a market share of 40% in the global red wines market
Rising social acceptance of alcoholic beverage consumption, coupled with documented instances of benefits associated with red wine is anticipated to deepen revenue pools for key manufacturers, says the Fact.MR analyst.
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Competitive Landscape
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 (Gallo) 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
- 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
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:
- Dry
- Semi-sweet
- Sweet
- By Sales Channel:
- Modern Trade
- Grocery Stores
- Convenience Stores
- E-commerce Platforms
- Other Retail Formats
- By Region:
- North America
- Europe
- APEJ
- Middle East & Africa
- Latin America
- Japan
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Red Wine market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential insights based on Product Type (Shiraz, Merlot, Cabernet Sauvignon, Pinot Noir, Barbera, Blaufränkisch, Bordeaux, Cabernet Franc, Gamany, Other Red Wines) Sales Channel (Modern Trade, Grocery Stores, Convenience Stores, E-commerce Platforms, Retail Formats) Body Type (Light Bodied Red Wine, Medium Bodied Red Wine, Full-Bodied Red Wine) Sweetness Level (Dry Red Wine, Semi-sweet Red Wine, Sweet Red Wine) across six major regions.
Key Questions Covered in the Red Wine Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Red Wine sales grow until 2032?
- Which are the factors hampering the Red Wine demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Red Wine Market during the forecast period?
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