The global cooking wine market size is expected to reach $ 405. 1 million by 2027, increasing to a market growth of 6% CAGR during the forecast period. Cooking wines are made with the aging of grapes, sherry, marsala, rice and among others.
New York, October 26, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Cooking Wine Market By Products, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027” – https: // www.reportlinker.com/p06177761/?utm_source=GNW
This wine is beneficial in the preparation of soups, ketchup, sausages, chicken, splits and many dishes. In addition, it is low in fat, calories, sodium; but is rich in minerals, improving the flavor and presence of foods. Wine-based dishes find potential application in non-vegan recipes and meals. Cooking wine is an ideal product to enhance the flavor of several dishes. It is very popular for its innovative sweetness and high flavor which can be suitably combined with rich dishes like gourmets. In addition, the food and beverage industry is experiencing a high demand for cooking wine.
The growth of the cooking wine market is expected to be fueled by the globalization of cuisines due to the shift in preferences towards conventional food cultures in various countries. Likewise, awareness of food, ingredients, cooking methods and cuisines would be increased by the rise of social media. For this reason, the hospitality industry has increased its spending to include cooking wine in the authentic foods of several countries, such as South Korea, France, China, Italy, Japan, Spain and Lebanon.
COVID-19 impact assessment
The outbreak of the COVID-19 pandemic and related government measures to restrict mobility have had a significant impact on the patterns and locations of alcohol consumption. The shutdown of manufacturing units and other stringent conditions have created a supply chain disruption in the alcohol industry. In addition, the global pandemic has raised awareness of the harmful effects of the consumption of alcohol and related products on health. In addition, the world’s population has come to realize that alcohol consumption decreases the ability to fight the COVID-19 pandemic.
However, the wide availability of cooking wines on various e-commerce channels has motivated consumers to continue using the product. During the pandemic period, people tried to experiment with new food recipes including cooking wines. Thus, cooking wines have seen modest growth during the pandemic period as people have a lot of free time and they have tried and tested different food recipes.
Market growth factors:
The great popularity of cooking wine
Cooking wine is an emerging trend in the global food and beverage industry. In addition, it is also gaining popularity among consumers. Cooking wine offers consumers various health benefits over conventional cooking oil. Cooking wine has a large number of applications in making sausages, soups, ketchup and processed meats, and its uses are increasing at a rapid rate.
Changing consumer preferences
Cooking ingredients such as vegetable oils and seed oils are conventional oils that have been used for many years in culinary practices. The demand for cooking wine is generated by changing lifestyles, changing dietary trends and food preferences. Consumers are looking for low fat cooking substances and cooking with wine is an emerging trend in the restaurant industry. The majority of consumers view cooking wine as a change and for a new taste and flavor.
Market restriction factor:
Low awareness of wine cooking in underdeveloped countries
There are many underdeveloped countries in the world where people have low disposable income and they are also less knowledgeable about new and emerging cooking concepts. Hence, cooking wines have low penetration in these countries, which is hampering the growth of the overall cooking wine market. In addition, the cooking of wines must be managed with precision otherwise the whole food recipe could go bad, resulting in a bad experience among consumers.
On the basis of products, the market is segmented into white wine, dessert, red wine, and other products. In 2020, the cooking white wine segment achieved the maximum revenue share in the cooking wine market. The tendency to consume cooking white wine among consumers is contributing to the growth of this segment. Additionally, these variations are used in risotto to add acidity.
Based on the application, the market is segmented into B2B and B2C. The B2C segment is said to exhibit the fastest growth rate during the forecast period. Such growing interest among the younger generation to cook exclusive foods in their own kitchen is responsible for the growth of this segment. This is due to the free accessibility of various recipes on blog pages and social media. In addition, cooking wine is available for sale in the unlicensed market, so it is highly available in stores.
On the basis of regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. North America has emerged as the leading region in the kitchen wine market in 2020. In addition, the region is expected to show a promising growth rate during the forecast period. Factors such as increasing preference for gastronomy are responsible for the growth of the regional cooking wines market.
The market research report covers the analysis of the major players in the market. Major companies featured in the report include AAK AB, The Kroger Co., Stratas Foods, Batory Foods, Inc., Iberica Export, LinChen, Inc., Marina Foods, Inc. and Ecovinal SL.
Strategies deployed on the cooking wine market
August-2018: Batory Foods signed a distribution agreement with Fiberstar, a world leader in natural and functional fibers. The agreement was to expand the sales bandwidth of Batory foods across the western United States.
June 2018: The Kroger announced a merger with Home Chef, the largest privately held meal kit company in the United States. The merger aimed to improve the accessibility of meal kits and to position the merger to dominate the way to revolutionize the way families shop, prepare and cook their meals. As part of the merger, the two unique, data-driven and customer-centric cultures would help Kroger Co. expand its reach across America, providing food inspiration.
March 2017: AAK expanded its geographic footprint by opening its flagship innovation center, the AAKtion Lab in Edison. The new center would allow the company to fully implement its co-development approach. The AAKtion lab would allow the company to offer a new set of solutions to customers and would be used for the first three phases of the company’s co-development process, including exploration and ideation; creation of solutions, then test in the application.
Scope of the study
Market segments covered in the report:
â¢ White wine
â¢ Red wine
â¢ Others products
â¢ North America
o United States
o Rest of North America
o Rest of Europe
â¢ Asia Pacific
o South Korea
o Rest of Asia-Pacific
o United Arab Emirates
o Saudi Arabia
o Rest of LAMEA
â¢ AAK AB
â¢ The Kroger company.
â¢ Stratas foods
â¢ Batory Foods, Inc.
â¢ Iberian export
â¢ LinChen, Inc.
â¢ Marina Foods, Inc.
â¢ Ecovinal SL
â¢ Comprehensive coverage
â¢ The largest number of tables and figures on the market
â¢ Subscription-based model available
â¢ Best price guaranteed
â¢ After-sales research support guaranteed with 10% free customization
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