Global Red Wine Market Overview:
As per the MRFR reports, the global market for red wine is likely to register a robust CAGR of over 6.45% during the review timeframe. The market is projected to attain USD 285.75 billion by 2032.
Mexico Red Wine Market is experiencing steady growth, driven by changing consumer preferences and a growing wine culture. While Mexico may not be traditionally associated with wine production, the country's wine industry is gaining momentum, with domestic wineries and imported wines both contributing to the market's expansion. As Mexican consumers develop a taste for red wine, fueled by increasing disposable incomes and exposure to international wine trends, demand for premium and boutique wines is on the rise. With Mexico's vibrant culinary scene and a growing number of wine bars and restaurants, the red wine market presents opportunities for wineries and distributors to establish a presence in this dynamic and evolving market.
Red wine is obtained from several grapes, which results in an alcoholic beverage. Red wine offers several health benefits such as the low risk of heart stroke, boosts the immune system, and increased bone density if taken within limits. The global Red Wine Market has been experiencing massive growth over recent years owing to factors such as growing consciousness regarding health, rising areas of use, increased urbanization, growing disposable income, growing young population, increasing demand for recreational activities, changing lifestyle, the growing acceptance of alcoholic beverages in emerging nations, and a preference for wine at large events. However, the growth of the red wine market is likely to be hampered by the heavy tax duties imposed on alcoholic beverages and higher prices.
Segmentations:
The global red wine market is divided into numerous segments based on distribution channel, packaging type, type, and region.
Based on type, the global market for red wine is divided into still red wine and sparkling red wine.
The global red wine market is bifurcated into cans and bottles by packaging type.
The red wine market is bifurcated into retail and food service based on the distribution channel.
Competitive Landscape:
The global red wine market has an intensely competitive landscape with a wide number of players spread worldwide. The list of Red Wine Market Companies the includes Constellation Brands (US), Pernod Ricard (France), Compagnia Del Vino SRL (Italy), Gruppo Campari (Italy), Amvyx SA (Greece), Diageo plc (UK), E J Gallo Winery (US), Caviro (Italy), Treasury Wine Estates (Australia), Bacardi Limited (Bermuda), Grupo Penaflor S.A. (Argentina), The Wine Group (US), Accolade Wines (Australia), Vina Concha y Toro S.A. (Chile), Castel Group (France), and several others.
Recent Developments:
- September 2021 – Martha Stewart Wine Co. and Marquee Brands, DRINKS, the online wine collection including an assortment of wines hand-picked by America's lifestyle expert Martha Stewart, revels a year of landmark partnerships, including latest Macy's Wine Shop, and Kroger, The Wine Shop on the Instacart Marketplace and extraordinary growth in customer demand as online wine continues to surge in popularity.
- August 2021- Nashik-based Somanda Vineyards has announced the launch of fruit wine from pomegranates and labeled as Anarkali. With this launch, the vineyard has prolonged its horizons beyond the conventional grape wine and has launched two versions, off-dry with two levels of sweetness that might be attractive to those who enjoy pomegranate as a fruit but enjoy high alcohol in their fruit wine.
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