Report : South & Central America Organic Wine Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Still and Sparkling), Packaging Type (Bottles and Can), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Direct Selling)
At 10.4% CAGR, the South & Central America Organic Wine Market is speculated to be worth US$ 1,016.79 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America organic wine market was valued at US$ 561.95 million in 2022 and is expected to reach US$ 1,016.79 million by 2028, registering an annual growth rate of 10.4% from 2022 to 2028. The increase in preference for organic products and growing number of organic vineyards are the critical factors attributed to the market expansion.
Consumers are becoming more aware of the adverse effects of chemicals or pesticides used in winemaking. As consumption of chemicals has increased the incidence of chronic and lifestyle diseases, government attempts to encourage the use of organic products. There are a few rules for organic vinification; wine is made without chemicals and is produced using only natural fertilizers such as green manure or compost. With the increase in wine consumption many lands are being converted into winegrowing areas, which offers increase in production of organic wine. consumers' interest in organic products that provide more vitamins and minerals is attributed increase focus on organic products production as they offer numerous benefits. Organic wine is becoming increasingly popular because it is made from grapes that comply with organic agricultural practices. Artificial & chemical fertilizers, fungicides, insecticides, and herbicides are not allowed by government bodies for production. Organic wine is healthier as it contains many antioxidants, vitamins, and minerals. Resveratrol, found in red wine, help decrease cholesterol and prevent cancer. Several organizations, such as USDA Organic, Demeter, and Eco Cert, are regulating organic wine and supporting organic wine production. Organic wine is gaining popularity as it eliminates the intake of toxic chemicals, colors, and additions. The governing agencies in different countries have multiple criteria for producing organic wine. Many variables such as carbon neutral, vegan-friendly, biodynamic, and certified organic wine are driving the organic wine market growth.
On the contrary, high production cost of organic wine compared to conventional wine hurdles the growth of South & Central America organic wine market.
Based on type, the South & Central America organic wine market is bifurcated into still and sparkling. The still segment held 91.9% market share in 2022, amassing US$ 516.70 million. It is projected to garner US$ 930.39 million by 2028 to expand at 10.3% CAGR during 2022–2028. The still segment is further sub-segmented into red, white, and rose.
Based on packaging type, the South & Central America organic wine market is bifurcated into bottles and cans. The bottles segment held 95.8% market share in 2022, amassing US$ 538.51 million. It is projected to garner US$ 973.31 million by 2028 to expand at 10.4% CAGR during 2022–2028.
By distribution channel, the South & Central America organic wine market is fragmented into supermarkets and hypermarkets, specialty stores, online retail, and direct selling. With 50.9% share of the domain, the direct selling segment dominated the market in 2022. It accrued US$ 286.01 million in 2022 and is estimated to generate US$ 533.25 million by 2028 to grow at a CAGR of 10.9% over the forecast period.
Based on country, the South & Central America organic wine market is categorized into Brazil, Argentina, and the rest of South & Central America. Our regional analysis states that Argentina captured 65.8% market share in 2022. It was assessed at US$ 369.90 million in 2022 and is likely to hit US$ 665.28 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players dominating the South & Central America organic wine market are Avondale, EMILIANA ORGANIC VINEYARDS, GRGICH HILLS ESTATE, Kendall-Jackson , and The Organic Wine Company among others.
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