The Red Wine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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As per The Business Research Company’s Red Wine Global Market Report for 2024, the red wine market has exhibited consistent growth, projected to rise from $106.52 billion in 2024 to $111.84 billion in the same year, boasting a 5.0% Compound Annual Growth Rate (CAGR). This upward trajectory in historical data is rooted in cultural and traditional factors, burgeoning wine tourism, evolving consumer preferences, the rising popularity of wine as a social beverage, and the established link between wine and health benefits.
Looking ahead, the red wine market is poised for robust expansion, forecasted to reach $136.77 billion by 2028, with a CAGR of 5.2%. This anticipated growth is underpinned by factors such as increased disposable income, escalating urbanization, a higher proportion of millennials, evolving consumer preferences towards alcoholic beverages, shifting global demand influenced by climate change, and the burgeoning prominence of online sales and direct-to-consumer channels. Noteworthy trends in the forecast period encompass the premiumization of wine, the rise of natural and minimalist winemaking practices, the integration of technology through wine apps, the art of wine and food pairing, and the exploration of alternative packaging solutions.
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, in August 2024, according to Koninklijke DSM N.V., a Netherlands-based health and bioscience company, in response to the pandemic, 60% of consumers worldwide are now more concerned about their health, placing a higher priority on leading healthy lives to avoid health problems. Furthermore, in July 2022, according to reports published by Food Insight, a US-based non-profit organization, 52% of Food and Health Survey participants followed a specific diet or eating pattern, up from 39% in 2021. Therefore, the increasing health awareness among consumers drives the growth of the red wine market.
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The red wine market covered in this report is segmented –
1) By Type: Sparkling Red Wine, Still Red Wine
2) By Packaging Type: Bottles, Cans
3) By Distribution Channel: Food Service, Retail
Top 5 Major Players:
Within this dynamic landscape, the red wine market is witnessing the ascent of a prominent trend— the growing popularity of organic products. Notably, organic wine, certified by governmental standards, adheres to stringent criteria covering aspects from pesticide usage to land management, storage, and preservation. A case in point is the introduction of Gary Barlow Organic in October 2021 by a Spanish winemaker named Gary Barlow. This organic wine collection features red and white variants crafted from grapes cultivated in certified organic fields in Castilla, grown with old, low-yielding bush vines, and employing dry-farming practices. This exemplifies a significant shift towards sustainable and organic practices in the red wine industry, aligning with the discerning preferences of today’s consumers.
The red wine market report table of contents includes:
1. Executive Summary
2. Red Wine Market Characteristics
3. Red Wine Market Trends And Strategies
4. Red Wine Market – Macro Economic Scenario
5. Global Red Wine Market Size and Growth
……
31. Global Red Wine Market Competitive Benchmarking
32. Global Red Wine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Red Wine Market
34. Red Wine Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Red Wine Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Red Wine Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Red Wine Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Accolade Wines Financial Performance
Table 75: Caviro S.C.A. Financial Performance
Table 76: Vina Concha Y Toro S.A. Financial Performance
Table 77: Castel Winery PLC Financial Performance
Table 78: E. & J. Gallo Winery Financial Performance
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