The global port wine market size is estimated reach USD 825.68 million by 2025 expanding at a CAGR of 4.0%, according to a new report by Grand View Research, Inc. Increased consumption of alcohol, awareness about the health benefits of port wine, and rising disposable income are among the prominent factors propelling the product demand. Red wine is the most preferred by consumers. It accounts for more than 60% of the global market share.
Increasing
awareness about the health benefits of red wine, such as reduced risk of heart
disease, is the key factor responsible for the segment’s largest share in the
market. The red wine is prepared from the grape skin and thus is rich in
organic compounds and has tannins and resveratrol, which are good for health.
Therefore, red wine is the dominant segment and will witness a significant
growth over the years to come.
Among
the different types of port wines, ruby wine is the most preferred due to its
low price and easy availability. This type of wine is aged for 2 or less years
thus, costs less. Tawny wine is witnessing the fastest growth as young
consumers prefer quality over quantity with the factor of cost-effectiveness.
The vintage wines are very rare and are aged for 10 to 40 years and are very
costly.
The
manufacturers conduct auctions for increasing sales and awareness about the
vintage wines. The online distribution channel is expected to grow at the
faster rate over the forecast period. Increasing usage of internet, hassle-free
transactions, and faster delivery are the prominent factors responsible for the
segment growth. Consumers in non-metro cities are also using the online
platform, thus fuelling the growth of online distribution channel.
Full Research Report On Port Wine Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/port-wine-market
Further key
finding from the report suggests:
- Red wine type
led the global port wine market due to its health benefits and taste
- The maximum
revenue was generated from Europe due to tradition as well as higher
consumption. Moreover, most of the key product manufacturers are based in
Europe
- Ruby port
wine is likely to lead the market in the forecasted period due to its low
price and easy availability
- However, the
tawny segment will witness the fastest growth from 2019 to 2025 due to
increasing income levels
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/port-wine-market/request/rs1
Grand View Research has
segmented the global port wine market on the basis of nature, type,
distribution channel, and region:
Port Wine Nature
Outlook (Revenue, USD Billion, 2015 - 2025)
- Red
- White
Port Wine
Distribution Outlook (Revenue, USD Billion, 2015 - 2025)
- Online
- Store-based
Port Wine Type
Outlook (Revenue, USD Billion, 2015 - 2025)
- Ruby
- Tawny
- Vintage
Port Wine Regional
Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Spain
- U.K.
- Asia Pacific
- China
- Rest of the world
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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