Red Wine Market Size, Share and Analysis By Type (Still wine , Sparkling Wine, Others), By Sales Channel (Online Trade , Offline Trade) and Regional Forecast, 2024-2032

Red wine is considered as one of the oldest alcoholic beverages; obtained from the alcoholic fermentation of ripe and fresh grapes. Red wine is one of the popular alcoholic drinks, and awareness regarding its benefits have been increasing since centuries. The alcohol content of red wine ranges between 12% and 15%, with an average of around 13.5% ABV. Changes in sedentary lifestyle, expanding urbanization, and a rise in the number of young millennials are the crucial factors responsible for the vast growth of the global red wine market. The famous categories of red wines, including Shiraz, Merlot, Cabernet Sauvignon, Pinot Noir, and Barbera, have gained a lot of traction due to their sensory attributes and social approval globally.

Red wine is a good source of bioactive compounds such as polyphenols, antioxidants, and traces of vitamins and minerals. The drink imparts several health benefitting properties such as regulating blood sugar, lowering the bad cholesterol levels, and reducing the risk of cardiovascular diseases. The red wine market is flourishing, resulting in increased demand for organic wine and accessibility for premium and flavored red wines globally. However, certain restraints such as high-cost sensitivity and sparkling red wine alternatives further impedes the global red wine market share.

Impact of COVID-19 on Global Red Wine Market

The novel coronavirus outbreak has posed unprecedented threats to the overall food industry due to the disruptions in the production, supply, and consumption. The global shutdown has affected the food industries as the government restricted the opening of restaurants, hotels, and bars, thereby owing to the shrink in the sales revenue of the red wine. According to Frontiers Journal, a research was conducted to evaluate the COVID-19 risk with different types of alcoholic beverages, showed that the consumption of red wine, champagne and white wine in appropriate amount might reduce the risk of contracting the COVID-19 infection, which has attracted the customer's attention. Therefore, the global red wine market would witness a moderate growth in the coming years.

Key Insights

The report will cover the following key insights:

• Overview of parent/related market


• Drivers, restraints, and opportunities


• Key Trends and Innovations


• Regulatory Analysis


• Impact of COVID-19 on the Global Red Wine Industry

Analysis by Sales Channel

Based on the sales channel, the market is further segregated into on-trade and off-trade. With the upliftment of lockdown, the on-trade category has been the largest and fastest-growing segment. The market's expansion is attributed to the growing party culture and festive celebrations globally. In addition, the consumption of alcoholic beverages including red wines has increased after the reopening of restaurants and hotels across the world. On the other hand, the supermarkets, wine stores, and hypermarkets have also observed a spike in the off-trade segment. Thus, all these factors are responsible for boosting the overall wine demand.

Regional Analysis

North America held the largest share in the global red wine market. The significant factors contributing to the vast growth of the wine market are increased social dynamics and high spending capacity of the consumers. In addition, Canada and the U.S. have also experienced a surge in their growth rate due to the developing trends and formulations of different varieties of wine.

Key Players

This report includes the profile of key players such as Accolade Wines (Australia), Amvyx SA (Greece), Bacardi Limited (Bermuda), Gruppo Campari (Italy), The Wine Group (U.S.), Caviro (Italy), Pernod Richard (France), Treasury Wine Estates (Australia), Castel Group (France), Compagnia Del Vino SRL (Italy), Constellation Brands (U.S.), E & J Gallo Winery (U.S.), Viña Concha y Toro SA (Chile), and Grupo Peñaflor S.A. (Argentina).

Segmentation

Key Industrial Developments

• January 2022, Laithwates, the U.K.'s biggest retailer, has launched the W/O (without) Frrapato, an Organic Sicilian red wine packed in 100% recycled bottles.


• February 2020, Sula Vineyards, India's biggest wine selling brand, has launched the country's first canned wine. The company sells both Dia's red and white wine in cans across the country.