Factors responsible for sustained market growth, in the recent years, include easy availability of a wide range of rose wine products, change in consumer preference towards wine products and differential price range such as premium and luxury rose wines.
(businesspress24) - The Global Rose Wine Market is subject to witness a substantial growth due to the increasing popularity between consumer and lower percentage of Alcohol by Volume (ABV). Factors responsible for sustained market growth, in the recent years, include easy availability of a wide range of rose wine products, change in consumer preference towards wine products and differential price range such as premium and luxury rose wines.
Increase in production in the North America region is expected to favor the market growth in the upcoming years as well. Globally, the market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for market players to invest in research and development in the rose wine market.
Additionally, increasing demand for rose wine among consumers due to presence of online retail stores and e-commerce retailers, which allows small and medium-sized businesses to reach wider audience, thereby driving the market growth. Favorable laws and regulation and strong economic growth in the developing economies across the globe, are anticipated to drive the growth of rose wine market in the upcoming years.
Easy availability of rose wine due to rising penetration of supermarkets, hypermarkets, retail stores and e-commerce retailers is predicted to boost market demand for rose wine in the years to come. In addition, growing demand for rose wine from cinemas, bookstores and car washing stations alongside large-scale grocery stores such as Kroger, Wegmans, and Whole Foods serve food are projected to expand market reach for rose wine industry during the forecast period.
Development of novel products and technique such automated machinery, which increasingly adopted during different phases of the harvesting and production procedures, particularly in the large production houses, thus triggering market growth, in the recent years. In addition, increasing adoption of agriculture technology (ag-tech) in order to utilize water and electricity effectively, rising implementation of drones to irrigate crops and thermal & GPS imaging to gather information on each aspect of rose wine physiology is expected to positively influence market growth in the upcoming years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the production of rose wine, the lower cost & easy availability of raw materials, and existence of well-established manufacturing sector in the region.
Asia-Pacific region is predicted to hold major market share in the rose wine market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with presence of large consumer base, increasing popularity of rose wine, rising personal disposable income and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the rose wine market are Pernod Ricard S.A., Bodegas Muga, Trinchero Family Estates, Inc., Treasury Wine Estates Ltd., Crimson Wine Group Ltd., and Angove Family Winemakers.
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Date: 11/11/2019 - 10:03
Language: English
News-ID 1553791
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