Pune, India, July 24, 2019 (GLOBE NEWSWIRE) -- Red Wine Market Projected to grow at a CAGR of 3.6% during the forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Overview
The Red Wine Market is gathering increased traction due to a surge in consumption. Reports that review the food, beverage, and nutrition industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities. The market is expected to be powered a fruitful CAGR in the forecast period.
The expansion of the various segments in the red wine market, such as dessert wines is expected to encourage the overall market development in the coming years. Also, the inventions in the production process are estimated to boost the progress of the red wine market globally.
Key Players and Industry Buzz
The prominent contenders in the Red Wine Market are Viña Concha y Toro S.A. (Chile), Caviro (Italy), E & J Gallo Winery (U.S.), Diageo plc (U.K.), The Wine Group (U.S.), Treasury Wine Estates (Australia), Constellation Brands, Inc. (U.S.), Grupo Peñaflor S.A. (Argentina) among many others.
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The level of competitiveness of the environment in the market is expected to be reasonable as there is ample scope for progress. The fiscal policies that are in effect in the market are expected to lead to a robust pace of development. The leverage created by the companies by deploying marketing strategies and activities is further enhancing the expansion of the market. The enhancement of production facilities is expected to motivate the market’s progress. The market is anticipated to display positive signs for market growth in the approaching period. The demographic changes are expected to show a positive effect on the progress of the market. The surge in e-commerce activities is expected to motivate the market in the upcoming years. The trade liberalization in the market and technological developments are expected to encourage the development of the market in the approaching years.
Segmental Analysis
The segmentation of the Red Wine Market is conducted on the basis of taste, type, region, and body-type. Based on the type, the red wine market is segmented into sparkling wine, still wine, and others. Among all the segments, the still wine controls the red wine market due to the price unpredictability and consumers’ high predisposition towards still wine. Though, the sparkling wine segment is likely to observe a high growth throughout the forecast period based on a change in consumers’ likings. Based on wine taste, It is segmented into medium, dry, and sweet. Among all the segments, the dry wine segment controls the market due to a varied assortment of red wines accessible in the segment and mass consumers’ predilection for the product. The easy availability also makes the segment more prominent. Based on body type, the red wine market is segmented into medium, light, and heavy. The red wine segment with medium body-type is projected to be controlling the market. However, due to the speedy demand for red wine from the consumers’ end, the selling of light-wine is experiencing a surge.
Browse the market data and Information spread across 110 pages with 25 data tables and 16 figures of the report “Red Wine Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/red-wine-market-2951
Detailed Regional Analysis
The regional analysis of the Red Wine Market covers regions such as Asia Pacific, North America, Europe, and the rest of the world (RoW). As per the study, the European region is controlling the market trailed by the North American region. The U.S. in the North American region is facing increased demand for red wine due to the transformation in consumers’ alcohol consumption inclination and high predisposition towards experiencing social dynamics. The APAC region is the fastest mounting region for the market due to the enhanced disposable income and intensifying demand for alcoholic beverages from the emergent markets of India and China.
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