Market Research Future (Food and Beverages) Red Wine Market Research Report | Page 3

Red Wine Market Research Report- Forecast to 2023
2 Market Overview
Wine is one of the most popular alcoholic beverages which is prepared by the fermentation of grape juice. Red wine
is made up of the black varieties of grapes that are highly pigmented and are rich in anthocyanin and tannins. Aging
of the fermented wines gives the wine their unique color which varies from brick red (for mature wine) to darker
brown for older wines. Red wines are stored in barrels for aging and to further increase the alcohol content to the
desired level. Red wines are found to be rich in anti-oxidants which adds to the health benefits obtained from red
wines when consumed in the right amount.
The developing economy and increasing disposable income have a major impact on the red wine market. The
increased demand for alcoholic beverages imparting low-calories is also driving the market for red wine. A wide
variety available in the red wine type is found to support the growth of the red wine market on a global platform. An
increased focus on research and development has led to product innovations and fortifications in wine varieties. This
has further given a boost to the red wine market. Furthermore, the increasing demand for fermented alcoholic
beverages is further supporting the growth of the global red wine market
Segments:
The global red wine market is segmented into type, taste, and body-type segments. The type segment is segmented
into sparkling wine, still wine and others. Amongst all the types, still wine dominates the industry due to price
variability and consumers’ high preference towards still wine. However, sparkling wine is estimated to witness a high
growth rate during the forecast period based on the shift in customers’ preferences. On the basis of wine taste, the
segment includes medium, dry and sweet. The dry wine assortment is leading the market due to an extensive variety
of red wines presented in the segment and mass consumers’ inclination for the product. The ease of availability also
makes the segment more popular. The body type segment is segmented into heavy, light and medium. The red wine
segment with medium body type is expected to be leading the market. Nevertheless, due to the swift demand for red
wine from the consumers’ end, the sale of the light wine segment is witnessing a surge.
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