As per the Market Research Future reports, the global market for red wine is likely to register a robust CAGR of over 5.19% during the review timeframe. The market is projected to attain USD 147.29 billion by 2024.

Red wine is obtained from several grapes, which results in an alcoholic beverage. Red Wine Industry 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 market for red wine 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.

Red Wine Market Segmentation Analysis:

By Type: Sparkling Red Wine and Still Red Wine:

By Packaging Type: Bottles and Cans

By Distribution Channel: Food Service and Retail [Supermarkets & Hypermarkets, Specialty Stores, and Others

By Region: North America, Europe, Asia-Pacific, and Rest of the World

Regional Analysis:

The global red wine market is studied across four major regions, including Asia-Pacific, Europe, North America, and the rest of the world.

The North American regional red wine market is projected to lead globally. The regional market's growth is being propelled by the presence of a population with high spending capacity across the region. Furthermore, the growth in the demand for red wine from the foodservice industry is another major aspect to accelerate the growth of the regional market.

The Asia-Pacific regional market for red wine is likely to record the fastest growth over the review timeframe. The regional market's growth is being driven by the rising disposable income and the rise in the youth population.

For the rest of the world, the red wine market is expected to project a steady growth rate due to the growing foodservice industry and rising disposable income in countries such as South American countries like Argentina, Chile, and Brazil.

Red Wine Market Top Key Players:

The global red wine market has an intensely competitive landscape with a wide number of players spread worldwide. The list of leading players in the red wine market 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.

Know More about Red Wine Market: https://www.marketresearchfuture.com/reports/red-wine-market-2951

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