The Cooking Wine Market is projected to grow by USD 9.47 Billion (2024-2028); rising demand in the food industry and AI reshaping the market landscape - Technavio

NEW YORK, Oct. 8, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Cooking Wine Market size is estimated to grow by USD 9.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 10.33%  during the forecast period. Increasing application and demand for cooking wine in food industry is driving market growth, with a trend towards business strategies adopted by vendors. However, adverse climatic conditions affecting wine production  poses a challenge - Key market players include AAK AB, B and G Foods Inc., De Vinco Co., ECOVINAL SL, Eden Foods Inc., Elegre Pty Ltd., Eworldtrade.com, Foshan Haitian Flavoring and Food Co. Ltd., Gourmet Classic Ltd., Goya Foods Inc., Kayco Co., Kroger Co., LinChen Inc., Marina Foods Inc., Mizkan Holdings Co. Ltd., PANOS Brands LLC, Pompeian Inc., Roland Foods LLC, Ultrafoods, and World Finer Foods LLC.

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The global cooking wine market is experiencing growth due to an increasing number of partnerships and collaborations among vendors. Companies are expanding their product offerings by launching new flavors and forming alliances with end-users and distributors. For instance, American Vinegar Works introduced Honey Wine Vinegar in collaboration with Maine Mead Works and The Best Bees Company, adding to their portfolio of 11 barrel-aged vinegars. Vendors are also participating in trade shows and food festivals to engage with consumers, promote new products, and increase sales. These strategies are expected to boost revenue and fuel market growth during the forecast period. 

The cooking wine market is thriving with various trends shaping its growth. Organic cooking wines are gaining popularity among health-conscious consumers, offering a clean label and free from added preservatives. Dessert wines are in demand for adding sweetness to dishes and contributing to digestive health and immunity. Cooking with seafood, poultry, and fish requires wines with the right acidity for deglazing. Garlic and gourmet cooking professionals prefer red wine vinegar for their dishes. Supermarkets, hypermarkets, and convenience stores stock a wide range of cooking wines, including vegan-friendly options made from soy, mushrooms, and reduced-sodium or low-sodium alternatives. Cooking shows and traditional food cultures promote artisanal cooking wines made from premium grapes using traditional winemaking methods. Brandy and sherry are also used in cooking, adding depth and complexity to dishes. E-commerce platforms offer a convenient way to buy cooking wines, making them accessible to food enthusiasts worldwide. 

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•         The production of cooking wine relies heavily on the cultivation of grapes, which can be significantly affected by adverse climatic conditions. Harsh weather, such as extreme temperatures and unseasonal rainfall, can negatively impact viniculture harvests, leading to lower yields and reduced grape quality. In 2020, India experienced a 30% decrease in wine production due to unseasonal rainfall, while Europe's unseasonable frosts in 2022 resulted in a 6.5 million hectoliters decrease in wine production in Spain and Italy. These natural disasters increase the volatility of raw material prices and quality, impacting the lower market segments with rising bulk wine prices and reduced grower margins. Ultimately, consumers will face higher priced final products due to the reduced supply of raw materials. Therefore, the cooking wine market growth will be significantly affected by adverse climatic conditions and the resulting low wine production.

•         The cooking wine market is experiencing significant growth due to increasing demand for plant-based options, with soy and mushroom cooking wines leading the way. Traditional winemaking methods using premium grapes continue to be popular, especially in gourmet cooking and traditional food cultures. However, challenges include the rise of vegan-friendly options and the availability of artisanal cooking wines. Reduced-sodium and low-sodium cooking wines cater to health-conscious consumers. E-commerce platforms have made it easier for new age cooks to access a wide range of cooking wines, including red wine vinegar, brandy, sherry, and port wine. Marinating with wine is a popular method for adding flavor to meat and vegetables, and wine's health benefits, such as reducing inflammation and improving heart health, are also driving demand. The market faces competition from alternatives like vinegar and lemon juice, but the market for high-end, preservative-free cooking wines remains strong. The hotel industry and traditional cuisines continue to be major consumers, with marinating and seasoning being key uses. Disposable incomes and the trend of cooking at home are also contributing factors.

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This cooking wine market report extensively covers market segmentation by  

1. End-user 
• 1.1 Household
• 1.2 Commercial
2. Type 
• 2.1 Red
• 2.2 White
• 2.3 Others
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Household-  The household segment of the global cooking wine market held the largest share in 2023, accounting for over 50% of the market. This growth can be attributed to the rising household spending, increasing demand for diverse food flavors, and growing awareness of health benefits. Urbanization and economic growth have led to improvements in living standards, resulting in higher disposable income and increased spending on condiments like cooking wine. These products are widely used at home to enhance food flavor and aroma. Naturally brewed cooking wine offers additional health benefits, such as reducing the risk of heart disease, diabetes, and colon cancer, and improving lipid metabolism. With the increasing popularity of regional cuisines and health-conscious consumers, the household segment is expected to grow at the highest rate during the forecast period. Well-established distribution channels, including online and retail sales, enable easy access to consumers. The USDA reports a significant increase in new food and beverage product introductions in retail outlets, with condiments like cooking wine among the top categories. Leading cooking wine brands focus on retail sales channels due to consumer preferences for higher-value products and brand loyalty. The rise in online grocery sales has also led vendors to collaborate with major e-commerce platforms, such as Amazon, Walmart, and Alibaba, to sell directly to consumers, increasing profit margins and sales in the household segment.

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The cooking wine market is witnessing a demand for plant-based options, with soy and mushroom cooking wines gaining popularity among new age cooks. Red wine vinegar is another vegan-friendly choice, rich in polyphenols and used extensively in various cuisines. Artisanal cooking wines made from premium grapes and traditional winemaking methods add depth and complexity to dishes. Fortified cooking wines like brandy and sherry offer unique flavors for savory dishes. The hotel industry and meat cooks continue to use fortified and reduced-sodium cooking wines for marinating processes. Sparkling wine and port wine are also used in specific dishes for their unique flavors. Cooking wines offer not only taste enhancement but also health benefits, such as reducing fat and aiding in the reduction of fibrinogen and increasing high-density lipoprotein.

The cooking wine market is a vibrant and diverse industry, encompassing a wide range of plant-based options such as soy and mushroom cooking wines. These wines add depth of flavor to dishes, making them an essential ingredient for new age cooks and traditional food cultures alike. Premium grapes, traditional winemaking methods, and artisanal cooking wines are also popular choices for gourmet cooking and the hotel industry. Red wine vinegar, vegan-friendly options, and reduced-sodium or low-sodium cooking wines cater to health-conscious consumers. Brandy, sherry, and port wine add unique flavors to marinades and sauces. E-commerce platforms have made it easier for consumers to access these wines, from traditional food cultures and cuisines to modern gourmet cooking. Marinating with wine is a popular technique for meat, vegetables, and even seafood, helping in fat reduction and adding to the overall health benefits of polyphenols, inflammation reduction, and blood pressure reduction. Vinegar, lemon juice, red wine, white wine, rice wine, sherry wine, vermouth, and marsala wine are all essential ingredients for various cooking techniques such as deglazing and seasoning. Organic cooking wines and dessert wines offer additional health benefits, including digestive health and immunity. Cooking shows and convenience stores have made cooking at home more accessible, while supermarkets and hypermarkets provide a wide range of options for consumers with diverse tastes and dietary needs. Cooking professionals and food enthusiasts continue to explore the possibilities of using cooking wines in their creations.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Household
• Commercial
• Type
• Red
• White
• Others
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio