NEW YORK, October 18, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Wine market by color (Red wine, Rosé wine, white wine and others), by Product Type and Distribution Channel: Global Industry Outlook, Comprehensive Analysis and Forecast, 2021-2028 “. According to the report, the global wine market was valued at around $ 430.99 billion in 2021 and should generate a turnover of around $ 680.99 billion by the end of 2028, with a CAGR of around 6.2% between 2021 and 2028.
Market growth dynamics
Moderate consumption of wine improves lipoprotein metabolism while keeping the heart healthy. Apart from this, experimental studies have revealed that the presence of polyphenols in red wine and its ability to destroy free radicals in the human body will help prevent heart problems in adults and the elderly. All of these aspects will guide the market expansion during the forecast period. In addition to this, the consumption of red wine improves glucose metabolism and improves endothelial function and reduces inflammation as well as blood lipid control functions.
In addition, rapidly changing lifestyles and increasing disposable income will accelerate market growth over the next few years. Apart from this, a massive preference for exotic wine flavors like tropical fruit wine and Riesling wine will drive the expansion of the wine industry in the years to come. Nevertheless, the introduction of strict laws by government authorities on the sale of wine as well as high taxes on the importation of wine will create obstacles to the growth of the wine industry in the years to come.
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Regional industry analysis
The wine market is segmented on the basis of color into red wine, rosé wine, white wine and others. The red wine segment is expected to dominate the global wine market. Depending on the type of product, the market is divided into still wines, sparkling wines, dessert wines and fortified wines. The still wine segment is expected to dominate the market, but the sparkling wine segment is expected to grow rapidly due to its growing demand as a party wine. Based on the distribution channel, the market is divided into supermarkets and hypermarkets, specialty stores, convenience stores, online channel and others. The supermarket and hypermarket segment is expected to dominate the global wine market during the forecast period.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the regional segments of the global wine market. North America is expected to remain the main region during the forecast period due to increased wine production. Growth in Europe should be stable as there are already a number of wine producers and wineries in this region. The Asia Pacific is expected to show the highest growth rate during the forecast period due to increasing demand for wine and growing wine production in developing countries. Latin America and Middle East & Africa are also expected to show a steady increase in demand for the wine market during the forecast period.
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Asia-Pacific area to primarily account for market revenue by 2028
The growth of activity in the region over the period 2021 to 2028 can be credited with increasing in the presence of retail wine stores in countries like India and China with a flourishing online purchase of the product. Apart from this, a large consumption of wine during festivals as well as huge discounts and offers during Christmas will lead to the expansion of business in the subcontinent during the evaluation period. In addition to this, loyalty coupons or promotional codes offered by various companies like Bacardi and other famous wine producers to attract new customers and retain existing customers in Asian countries will greatly contribute to the industry’s revenue. the region during the forecast period. Apart from that, a surge in popularity of premium wines will add to the region’s flourishing wine business in the years to come.
The main players influencing the growth of the company are International Beverage Holdings, Accolade Wines, Constellations Brand, Soyuz Victan and SPI Group, E & J Gallo Winery, Torres, Global Drinks Finland, Treasury Wine Estates, John Distilleries, Vina Conch y Toro, Distell Group and The Wine Group.
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This report segments the global wine market as follows:
Global Wine Market: Color Segment Analysis
Global Wine Market: Product Type Segment Analysis
Global Wine Market: Distribution Channel Segment Analysis
Middle East & Africa
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