The Asia Pacific Still Wine Market would witness market growth of 10.3% CAGR during the forecast period (2022-2028).
Wine is a beverage made only from the complete or partial alcoholic fermentation of fresh grapes or grape must whether, crushed or not. Yeasts convert sugars in the juice into ethanol (51.34%) and carbon dioxide (48.16%), as well as other compounds in trace amounts, during fermentation. Additionally, the fermentation of alcoholic beverages generates heat. The temperature at which red wines are produced is higher than that at which white wines are made. Fermentation temperatures for red wines range from 20°C to 32°C (68°F to 90°F), while white and rose wines are fermented between 12°C to 22°C (54°F to 72°F). When the must is heated, it forms bubbles.
The regional still wine market is being driven by a growing population of female alcohol consumers, the expansion of bars and restaurants, the exploration of new forms of entertainment, such as night parties, increasing demand from emerging economies, and a preference for low-calorie alcoholic beverages. In India, for example, the number of pubs and bars has significantly increased in recent years. Moreover, the number of cafes offering a wide variety of wines also increased during the same period. Wine's health benefits, such as a lower risk of heart disease, type 2 diabetes, and cataracts, are also fueling the still wine market in this region.
Moreover, as a growing number of millennials switch from beer and spirit-based drinks to wine across China, the demand for still wine across the region is estimated to rapidly surge in the coming years. Furthermore, the constantly rising disposable income of the regional population is another major factor that is encouraging them to include still wine in their lifestyle. Owing to all these factors, the growth of the regional market is being majorly augmented.
The China market dominated the Asia Pacific Still Wine Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $38,834.2 million by 2028. The Japan market is poised to grow at a CAGR of 9.6% during (2022 - 2028). Additionally, The India market would display a CAGR of 10.9% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Liquor Stores, Internet Retailing, Supermarkets, Pub, Bars & Restaurants, and Others. Based on Type, the market is segmented into Red Wine, White Wine, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Still Wine Market is Projected to reach USD 505.1 Billion by 2028, at a CAGR of 9.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Constellation Brands, Inc., The Wine Group, E. & J. Gallo Winery, Diageo PLC, Pernod Ricard S.A., Treasury Wine Estates Limited, Trinchero Family Estates, CASTEL Familial et international, Zhang Yu Wine Company, and Casella Wines Pty Limited.
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