Red Wine Market Overview, Global Industry Updates, Size, Share, Trend, Competitive Analysis, Segment and Future Prospects by Forecast to 2023

Latest Industry Updates:

February 2018, Aldi Inc. expanded its store brand wine selection and partnered with artist, designer and illustrator Timothy Goodman. It comprised of a Chardonnay, a Cabernet Sauvignon and a Red Wine Blend, the limited-edition reserve collection features Goodman’s hand-illustrated style across its labels.

Sep 2017 Minibar Delivery, a premier on-demand alcohol delivery service, has announced its new launch Vineyard Select, a nationwide direct-to-consumer wine shipping service that connects customers across the country with independent vineyards for delivery straight to their door.  

Mar 2017 HSN and Time Inc. has went under partnership to launch exclusive new food & wine product line. This partnership will help in strengthening company’s business segment and will allow the company to come up with new products in upcoming years.

Sep 2016 Treasury Wine Estates has added three-strong wine range for the US, called Blass. The brand has been created by Treasury's Wolf Blass division in the Barossa valley region of Australia that comprises three varietals - a Chardonnay, a Cabernet Sauvignon and a red blend.

Jan 2016 Glazer's, Inc. has merged with Southern Wine & Spirits. This merger will help in improving the company’s business segment and also malt beverage business.

Competitive Analysis:

Market players in red wine market are emphasizing in the merger & acquisition activities in order to upsurge the product portfolio of the company. Also, the manufacturers are also investing in the red wine processing plant to increase the product portfolio. The strategic sales plan of red wine manufacturers includes use of online channels for marketing. For that, key manufacturers are entering into collaboration with the online channels in order to reach maximum customers and also to upsurge the brand value of the product. Key players in the red wine market, is inclined to introduce new products in the market or to extend the product line of renowned product. Also, the company promotes their new products on social media in order to reach many customers. This promotional strategy aids to retain the existing the customers and also to acquire new customers. Also, the key manufacturers are focusing in the packaging of the wine. Today packaging is not only used to increase the shelf life of the product but also it aids to upsurge the brand value of the product.

The key players profiled in the red wine market report are Caviro (Italy), Viña Concha y Toro S.A. (Chile), E & J Gallo Winery (U.S.), Constellation Brands Inc (U.S.), The Wine Group (U.S.), Treasury Wine Estates (Australia), Grupo Peñaflor S.A. (Argentina), and Diageo PLC (U.K.) among many others.

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Market Overview:

Due to the various health benefits associated to red wine consumption, the market of red wine is growing at an incremental pace of development on the global platform. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Red Wine Market Research Report- Forecast to 2023’ that the market will demonstrate an exponential growth while achieving good growth rapidly in the forecast period.

Increasing population of alcohol consumers’ majorly belonging to age group of 19-25 is one of the major drivers influencing the sale of red wine based on the unique formulation. Developing economy and increasing disposable income have a major impact on the red wine market. Increased demand for premium alcohol is also driving the market for red wine. Availability of various product types in red wine supports the growth of red wine market. Furthermore, high focus on research and development has led to innovations in red wine varieties by experimenting with unique flavors, which has also fueled up the red wine share in the global red wine market. Innovation in fermentation process and inclusion of various ingredients for red wine production has resulted in launch of various red wine products. This has encouraged higher sales of red wine globally.

With growing consumers’ health awareness and pursuit of healthy attributes along with demographic trends in high growth markets where youth and middle age women are primarily interested and attracted to spend on red wine consumption, market players keeping their focus to tap the unexplored market horizons and leverage on these market opportunities. Globalization and urbanization has significantly affected the composition of human diets and this urban life with major influence of western culture encourages the consumption and use of goods with nutritional benefits. Also, growth in awareness related to red wine products information among consumers through books and social media platforms has supported the red wine sales to a greater extent globally. Popularity of red wine is also supported by wine tourism and special programs focused on the presentation of wine areas and variety wines with the authentic and clear origin.

In the recent years, wine consumption has evolved resulting in more shifts of consumers towards higher-quality red wines compared to traditional wines. Popularity of red wines is more among the famous origin types and high priced quality wines which has posed a threat to consumption of domestic cheaper wines. In countries such as China, red wine consumption is booming and the consumption is expected to grow further as the red color is considered positive and lucky in China and is also affiliated with the Communist government. Also, the growing trend of home-tainment and frequent social gatherings will further boost the demand, especially in developing economies.

Market Segments:

The global wine market has been divided into taste, type, product type, and region.

On the Basis of Taste: Dry, Medium, Sweet

On the Basis of Type: Still Wine, Sparkling Wine, Dessert Wine, Fortified Wine, Others

On the Basis of Product Type: Cabernet Sauvignon, Merlot, Pinot Noir, Zinfandel, Shiraz, Merlot, Others

On the Basis of Region: North America, Europe, Asia Pacific, and ROW

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Regional Analysis:

The global wine market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among the entire region, Europe is estimated to account for the major market proportion in the year of 2017. The region is estimated to retain its dominance throughout the forecast period of 2017-2023. U.K and Germany are the major consuming countries of wine in Europe. Presence of key manufacturers in the European countries is one of the significant reasons for the rising growth of red wine.

Key manufacturers are focusing in the new product development which in turn escalates the sales of red wine in Europe. However, Asia Pacific region is expected to expand at a high growth rate during the forecast period of 2017-2023. China and India are collectively accounting for the major Asia Pacific red wine market. The major importers of Red Wine include U.S., U.K., Germany, China and Canada. Based on the higher demand for alcoholic beverages with lesser calories, the import and export of red wine in the developed countries is found to rise at a steady growth rate.