Red Wine Market | Industry Review, Research, Statistics and Forecast to 2024

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iCrowdNewswire   Jan 13, 2021  11:11 AM ET

Market Overview

The consumer base for red wine has increased significantly in the past few years due to a high acceptance rate. The entry of quality wine producers have also transformed the market significantly by way of better wine quality and varieties. Increasing level of disposable income along with changing lifestyle patterns have also fuelled the expansion of the market. Development of various cultivars for red wines will create a robust consumer base for the industry through the forecast period.

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Leading Key Players

This scenario has created opportunities for portfolio improvements along with diversification in the sector, which has improved the scenario for market competitors tremendously in this industry. The organizations in this industry are also trying to enhance and maintain financial liquidity that can be crucial to invest in growth opportunities as and when they become available.

Competitors who are carrying on their business in the Red Wine Market globally are Treasury Wine Estates (Australia), VIÑA Concha y Toro S.A. (Chile), CAVIRO (Italy), Constellation Brands, Inc. (U.S.), E & J Gallo Winery (U.S.), The Wine Group (U.S.), Grupo PEÑAFLOR S.A. (Argentina), Diageo plc (U.K.), among many others.

Industry Segments

The dry wine assortment is leading the market due to an extensive variety of red wines presented in the segment and mass consumers’ inclination for the product. The ease of availability also makes the segment more popular. The body type segment is segmented into heavy, light and medium. The red wine segment with medium body type is expected to be leading the market. Nevertheless, due to the swift demand for red wine from the consumers’ end, the sale of the light wine segment is witnessing a surge.

Regional Analysis

The red wine industry globally is segmented into Europe, North America, Asia Pacific, and the Rest of the World (RoW). The European region is controlling the red wine industry followed by the North American region. In North America, the U.S. nation is undergoing a high demand for red wine due to the change in consumers’ alcohol consumption liking and high preference towards meeting the social dynamics. The Asia Pacific region is the fastest developing region for the red wine industry due to better disposable income and growing demand for alcoholic beverages from the emerging markets of China and India.

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