A recent market intelligence report that is published by Data Insights Partner on the global Cooking Wine Market an offering of in-depth analysis of segments and sub-segments in the regional and international Cooking Wine Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Cooking Wine Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Cooking Wine Market is offered. In accordance with the report, the global Cooking Wine Market projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Consumption of cooking wine market is valued at 256 million hectoliters in terms of volume in the year 2019, making it to be the fourth lowest volume in last 20 years.
The total market for cooking wine in 2019 is valued at USD 320.5 million. Italy has the highest market share in the cooking wine market with a market share of 18.55% in 2019 followed by the France which has a market share of 16.44%.
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Cooking wine is made from wine by adding salts and flavors in it . We are all aware of the globalization of cuisines because of shifting of people across the geographic boundaries and their inclination towards traditional food has increased the market scope of cooking wine.
Also the social media awareness among the people regarding food, cooking method, ingredients and cuisines which is impacting positively in the growth of this market. Various countries France, Italy, Spain, Lebanon, China, Japan which are famous across the world in making authentic dishes, leads to the incorporation of various cooking wine in the making process thereby leading to the increase in spending of hotel industry.
Among the new age cooks there has been a growing trend in the usage of cooking wine in the marination of steak, poultry, and seafood making the food tender, delicious and also it brings wonderful flavor to the dishes. Also marinating vegetables with cooking wine has gained a popularity as well. Other than adding noticeable flavors to the food, red cooking wine also adds attractive colors to the dishes.
Even various recipes of desserts and cakes requires a good amount of cooking wine addition which helps in lightening cakes, reducing the amount of fat and also adds a delicious flavor. We can name port wine as one which helps in adding sweetness in baked fruit dishes. For example some of the famous red wine desserts are hot chocolate, chiffon cake, truffles, marshmallows etc.
Not only just improving taste, cooking wine as an ingredient also improves the health benefits that reduces the probability of cancer and liver related disease such as enlargement of liver and thereby resulting in the good digestion. Certain cooking wine contains lipoprotein which lowers the levels of fibrinogen (precursor of blood clots). Polyphenols contain in cooking wine helps in protecting blood vessels and also helps in the reduction of inflammation along with it also reduces systolic and diastolic blood pressure. These health benefits has raised the demand of cooking wine as an essential ingrediats in the making of authentic health conscious dishes across the globe.
Due to increase in global population demand for food products the food and beverage industry has witnessed a higher growth rate since the last decade. Lifestyle of people has changed along with food preferences across the globe are considered to be the key driver in the cooking wine market. Europe has became the most conspicuous region for cooking wine market , and as we all know that people of European Union always set new trends in food and beverages and they are known for inventing new recipes and North American consumers are becoming aware of the benefits and usage of cooking wine. Also the countries such as China, Japan, Switzerland and New Zealand are the traditional cooking wine user and they have increasing number of consumers which all are creating huge platform for cooking wine market. The manufacturers should focus on the marketing and promotion of cooking wine products, so that to create number of increasing consumers in the near future.
White cooking wine is estimated to hold around 36.0% share of the overall revenue in 2019.Various factors makes the crowd to show their preference towards white cooking wine as these variants are used in risotto for a good touch of acidity. The dessert variant is expected to be one of the fastest-growing segments in the cooking wine market, expanding at a CAGR of 3.4% from 2020 to 2027. Fortified wine is one of the finest and long lasting which can be kept for one long yaer without any quality fall.
The B2B segment is estimated to hold around 68.3% share of the overall revenue in 2019. The B2C segment is expected to expand at the fastest CAGR of 3.9% from 2020 to 2027 owing to increased interest among the millennials to cook exotic food in one’s own kitchen. Additionally, cooking wine is more easily available at nearby stores and that too without license.
North America generated USD 94.4 million in 2019 and is expected to expand at a CAGR of 3.5% from 2020 to 2027. There is a growing interest in gourmet food which is expected to drive the market in this region. Asia Pacific is projected to expand at the fastest CAGR of 4.1% from 2020 to 2027.
The formation of strategic alliances are expected to remain the critical success factors for the market participants over the next few years. Additionally, manufacturers across the globe has increased their spending in establishing the online channels to the developing markets, including China and India as these two are targeted as vast customer base of millenials.
For the growth of a business you need to specify the group of consumers you might be targeting which helps you to avoid the cost of advertisement and one can distribute to a mass market. This market intelligence report on the global Cooking Wine Market encompasses market segments based on product, application, and region.
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Product Outlook (Revenue, USD Million, 2016 – 2028)
Application Outlook (Revenue, USD Million, 2016 – 2028)
Regional Outlook (Revenue, USD Million, 2016 – 2028)
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies in the business of global cooking wine ingredients such as:
- Mizkan America
- World Finer Foods
- Roland Foods
- KIKKOMAN SALES USA
- Gourmet Classic Ltd.
- Marina Foods, Inc.
- AAK AB
- Batory Foods
- Kedem Food
The above listed few are the companies who manufactures cooking wine are looking for every new opportunity in the food and beverage industry and research are also carried on to make improvement in the end use application of it.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year2020-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the Cooking Wine Market, size of the market (US$ Mn ), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2027, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Cooking Wine Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical upgradation
Ø The world market for Cooking Wine caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Cooking Wine Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Cooking Wine Market
v Identification of key factors driving investment opportunities in the Cooking Wine Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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