The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Dynamics

• Steady Growth: The red wine market has experienced consistent growth in recent years.
• Projected Expansion: From $106.52 billion in 2023, it is estimated to reach $111.84 billion in 2024, with a CAGR of 5.0%.
• Historical Growth Drivers:
  • Cultural significance and tradition
  • Growth of wine tourism
  • Evolving consumer preferences
  • Popularity of wine as a social drink
  • Wine’s association with health benefits

Future Projections and Trends

• Anticipated Growth: Forecasts predict strong expansion to $136.77 billion by 2028, with a CAGR of 5.2%.
• Factors Driving Future Growth:
  • Rising disposable income and urbanization
  • Increasing proportion of millennials
  • Changing consumer preferences and acceptance of alcoholic beverages
  • Shifting global demand and climate change
  • Growth of online sales and direct-to-consumer channels
• Major Trends:
  • Premiumization of wine
  • Natural and minimalist winemaking
  • Technology and wine apps
  • Wine and food pairing
  • Alternative packaging

Health Awareness Driving Market Growth

• Consumer Focus on Health: Increasing health awareness among consumers is a significant growth driver.
• Health Benefits of Red Wine: Red wine consumption has been linked to reduced inflammation, lowered cancer risk, and improved heart health.
• Global Trends: Reports indicate a rising concern for health, with consumers prioritizing healthy lifestyles and dietary patterns.
• Example: Koninklijke DSM N.V. reports a heightened concern for health among 60% of consumers worldwide in response to the pandemic.

Rising Demand for Organic Products

• Growing Popularity of Organic Wine: Organic products are gaining traction, including organic wine, certified by governments.
• Strict Criteria: Organic wine production adheres to stringent criteria covering pesticide usage, land management, storage, and preservation.
• Example: Gary Barlow introduces Gary Barlow Organic, comprising red and white wines cultivated from certified organic fields.

Industry Consolidation and Expansion

• Strategic Acquisitions: Companies aim to expand portfolios and market presence through acquisitions.
• Example: Accolade Wines’ acquisition of Rolf Binder Wines broadens its portfolio with premium red and white grapes.

Market Segmentation

• Types:
  • Sparkling Red Wine
  • Still Red Wine
• Packaging Types:
  • Bottles
  • Cans
• Distribution Channels:
  • Food Service
  • Retail

Regional Insights

• Market Dynamics: North America led the red wine market in 2023, with Asia-Pacific poised for rapid growth in the forecast period.

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The Red Wine Global Market Report 2024 provides an overviewof the red wine market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The red wine market forecast analyzes red winemarket size, red wine market share,leading competitor and their market positions.

The Table Of Content For The Red Wine Market Include:
1. Red Wine Market Executive Summary
2. Red Wine Market Segments
3. Red Wine Market Size And Red Wine Market Growth Rate
4. Key Red Wine Market Trends
5. Major Red Wine Market Drivers
……
25. Key Mergers And Acquisitions In The Red Wine Market
26. Top Red Wine Companies
27. Red Wine Market Opportunities And Strategies
28. Red Wine Market, Conclusions And Recommendations
29. Appendix

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