Red Wine Global Market Report 2023

NEW YORK, March 6, 2023 /PRNewswire/ -- Major players in the red wine market are Accolade Wines, Caviro S.C.A., Vina Concha Y Toro S.A., Castel Winery PLC., E and J Gallo Winery, Grupo Peñaflor S.A., Diageo plc, Treasury Wine Estates, Constellation Brands, The Wine Group, Campari Group, Brown-Forman, Amvyx SA, Rémy Cointreau, Compagnia Del Vino SRL, and Pernod Ricard.

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The global red wine market grew from $102.97 billion in 2022 to $109.50 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The red wine market is expected to grow to $133.14 billion in 2027 at a CAGR of 5.0%.

The red wine market consists of sales of sparkling red wine and still red wine.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Red wine is a wine with a primarily red color that results from the natural pigment found in the peels of dark-colored grapes during fermentation.The alcohol content of red wine is typically between 12 -15%.

Antioxidants abound in red wine, and moderate consumption is good for health.

North America was the largest region in the red wine market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of red wines are sparkling red wine and still red wine.The sparkling red wine has a reddish hue which is obtained when grape juice comes into contact with the grape skins of red grape strains.

Depending on the variety, sparkling red wines range in taste from very dry to semi-sweet and in color from deep rose to inky-red. The red wines are packed in bottles, and cans and are distributed through food services and retail stores.

The increasing health awareness among consumers is expected to propel the growth of the red wine market going forward.Healthy eating has become the norm, with most consumers demanding foods and beverages to meet progressively nuanced health and wellness, ethics, and sustainability criteria.

The powerful plant compounds found in red wine have been linked to several health benefits, including reduced inflammation, a lowered risk of cancer, and a longer lifespan.Red wine's alcohol and antioxidants aid to prevent coronary artery disease.

For instance, according to the International Food Information Council 2020 Food and Health Survey, 54% of consumers and 63% of consumers over the age of 50 are concerned about the healthfulness of their food and beverages. Therefore, the increasing health awareness among consumers drives the growth of the red wine market.

The growing popularity of organic products is a key trend gaining popularity in the red wine market.Organic wine is a product that has been certified as organic by the government.

Organic wine production must follow strict criteria that cover everything from pesticide usage to land management to storage and preservation.For instance, in October 2021, Gary Barlow, a Spanish winemaker introduced an organic wine called Gary Barlow Organic.

The Gary Barlow Organic collection comprises a red and a white wine created from grapes cultivated in certified organic fields in Castilla grown with old, low-yielding bush vines that are dry-farmed.

In March 2021, Accolade Wines, an Australia-based wine company acquired Rolf Binder Wines for an undisclosed sum.Through this acquisition, Accolade Wines aims to broaden its diverse portfolio by integrating Rolf Binder premium red and white grapes that will support Accolade's other Barossa brands.

Rolf Binder Wines is an Australia-based company that produces red wine.

The countries covered in the red wine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The red wine market research report is one of a series of new reports that provides red wine market statistics, including red wine industry global market size, regional shares, competitors with a red wine market share, detailed red wine market segments, market trends and opportunities, and any further data you may need to thrive in the red wine industry. This red wine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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