Cooking Wine Market by Type (Red, White, Sherry, and Others), Category (Organic and Conventional), and End Use (Food Retail and Foodservice): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 357.4 million mark in 2022 and is expected to hit US$ 479.3 million by 2030, recording an approximate CAGR of 3.7% during the forecast period.
Growing Interest in Different Cuisines
Globalization has increased the diversity and availability of food from different countries. People are shifting from their traditional cuisines and developing taste for a variety of food from different cuisines. Moreover, due to increased penetration of social media, consumers are increasingly aware about different cuisines, various cooking methods, and different cooking ingredients. This factor is creating strong awareness for cooking wines among consumers. Wine imparts unique flavor to the food item and breaks the fat molecules making the product light and easy to digest. It is widely used in meat marinades and sauces. It is also used in desserts and bakery mixes. Wine is extensively used in Asian and European cuisines. Thus, the growing interest of consumers for different cuisines is driving the demand for cooking wines.
Within the report, the market is segmented into type, category, distribution channel, and geography. By type, the market is segmented into red, white, sherry, and others. Based on category, the market is segmented into organic and conventional. On the basis of end use, the market is segmented into food retail and foodservice. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising Demand for Organic Cooking Wine
In the recent years, consumers have become increasingly concerned about their health and wellness. They are shifting toward organically grown ingredients as they perceive organic products to be healthier than conventional ones. Organic food is free from pesticides, genetically modified organisms, and adulterants. Therefore, there is a high demand for organic products. Organic cooking wine is also free from synthetic additives and made using organically grown grapes. Organic cooking wine contains various nutrients such as vitamins, antioxidants, and minerals which increases the nutritional value of the food. Thus, the rising health concerns coupled with benefits of organic cooking wine are driving the cooking wine market growth.
Increasing Demand in Developing Countries
Due to rising influence of different cultures, increase in per capita income, and rapid urbanization, consumers in developing countries such as India, Brazil, South Africa, and the UAE are exploring different cuisines and trying to cook different food items at home. Moreover, consumers are also influenced by lifestyle of celebrities and social media trends. They are watching video tutorials to cook authentic food at home. These factors are driving the demand for cooking wines in developing countries which is further fueling the market growth.
Recent strategic developments in cooking wine market
The cooking wine market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021, Diora Wines collaborated with celebrity cookbook author and television host Gail Simmons to promote its products
The cooking wine market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Mizkan America, Inc.; Goya Foods, Inc.; KA-ME; Iberia Foods Corp; and Diora Wines; are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Manufacturers and distributors of cooking wine and other culinary products
- Government bodies, such as regulating authorities and policy makers
- Retailers and distributors of cooking ingredients
- Distillers of cooking wine
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
The List of Companies
- Mizkan America, Inc.
- Goya Foods, Inc.
- Iberia Foods Corp
- Diora Wines