Global Off Dry Wine Market - Forecast(2022 - 2027)
The Global Off Dry Wine Market size is estimated to reach $1.2 billion by 2027. Furthermore, it is poised to grow at a CAGR of 3.6% over the forecast period of 2022-2027. Off Dry Wine is one that contains no residual sugar. When grape juice ferments into wine, yeast consumes the sugar in the juice, resulting in the production of alcohol and tannins as residue which is astringent to taste. In many wines, the fermentation process is stopped before the yeast has devoured all of the sugar, resulting in a slightly sweet wine. Off-Dry Red Wine is a type of wine that differs from dry wines in that it has a sweetness to it. It includes residual sugar, and the flavour are sweet and sour, with a trace of bitter or caramel flavour for some. There are various types of off dry wine available such as white wine and red wine which are popular amongst them. The expanding popularity of Off Dry Wine in culinary cultures around the world is evidenced by consumers' increasing indulgence in a glass of good white wine during the summer is driving Global Off Dry Wine industry. Also, food pairing options for off-dry red wines are available for individuals who like sweeter flavours in their meals. This expansion is ascribed to causes such as consumers' preference for light-bodied wines over heavier ones owing to their lower calorie content, as well as the global demand for low-alcohol beverages among young people. However, pertaining to the fact that commercial areas such as hotels and restaurants were generally shuttered owing to the COVID-19 pandemic, sales were impeded. However, Off Dry Wine sales have increased in the residential sector.
Global Off Dry Wine Market Report Coverage
The report: “Global Off Dry Wine Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Global Off Dry Wine Industry.
By Product Type – White Wine, Red Wine and Other Off Dry Wines.
By Packaging Type – Bottle and Can.
By Application - Daily Meals, Social Occasions, Entertainment Venues and Others.
By Sales Channel – Off-Trade and On-Trade.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).
Key Takeaways
- Geographically, Europe owing to the increasing demand for global off dry wine accounted for the highest revenue share in 2021. Pertaining to the presence of a large population with strong buying power in this region is projected to dominate the market.
- During the forecast period 2022-2027, the off dry wines industry is undergoing changes as manufacturers are focusing on experimenting with different flavours.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Off Dry Wine Market Report.
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Global Off Dry Wine Market Segment Analysis-By Product Type
The Global Off Dry Wine market based on product type is further segmented into White Wine, Red Wine and Other Off Dry Wines. In 2021, the white wine category had the most market share. The rising popularity of white wine in dietary cultures around the world is evidenced by consumers' increasing indulgence in a glass of fine white wine during the summer. Furthermore, off dry white wine has a historical significance. As a result, daily consumption of the same has increased. White wine is a common beverage served with meals in many countries. The delectability of white wine is propelling its sales. Also, during the forecast period 2022-2027, this segment of the market is estimated to be the fastest-growing, with a CAGR of 4.6%. White wine also has antioxidant qualities that help to slow down the ageing process. White wine also has fewer calories than red wine, making it a healthier beverage choice for beverage consumers. Owing to its flavour, white wine has grown in popularity. People's cardiovascular health has been shown to be improved by aged white wine. White wine producers are also concentrating on providing different types of wines in different regions. As a result, white wine demand is predicted to rise during the projection period.
Global Off Dry Wine Market Segment Analysis-By Sales Channel
The Global Off Dry Wine market based on sales channel is further segmented into daily meals, social occasions, entertainment venues and others. In 2021, the daily meals category has the largest market share. In the Daily Meals industry, the Off Dry Red Wine Market is rapidly expanding. Off Dry Red Wine is in high demand owing to its fruity flavour and smooth texture, making it ideal for everyday meals. Furthermore, individuals nowadays are experimenting with numerous wine kinds in order to keep their lifestyle trend of trying new things.
However, during the forecast period 2022-2027, the social occasion segment of the market is anticipated to be the fastest-growing, with a CAGR of 5.2% over the forecast period of 2022-2027. For social gatherings, off-dry red wines are a popular choice. People choose this type of wine as it is easy to drink and has distinct characteristics. Companies favour providing off-dry red wines since they last longer on the table in today's society, where individuals have to attend multiple events in a week or on weekends. Off-dry red wine with cheese-paring is offered as an appetiser or after the main course. Off-dry red wine's fruity character has made it a popular food accompaniment owing to its complex notes that enhance the flavours of food.
Global Off Dry Wine Market Segment Analysis-By Geography
The Global Off Dry Wine market based on Geography is further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. In 2021, Europe dominated the market with a 31% share and is poised to grow at the fastest CAGR in the forecast period of 2022-2027. This is attributed to the fact that European consumers have an average consumption of off dry wine that is significantly higher than their consumption of any other beverage. Off dry wine is produced in considerable quantities in Italy, France, and Spain, among other countries. As for France, around 27 million hectolitres of wine is consumed within France. The climate in Italy has aided the region's ability to produce high-quality wine. Furthermore, the region has over a million vines, making it a stable occupation. Furthermore, this is also aided by the manufacturers of off dry wine who are focusing on providing different types of wines in different regions. This, in turn, is anticipated to increase the demand for off dry wine in the forecast period 2022-2027.
Global Off Dry Wine Market Drivers
The rising demand for off dry wine in western countries is propelling the market growth
There is an increased demand for dry white wine in developed and developing economies that is estimated to enhance the market during the forecast period 2022-2027. Raw material abundance, well-trained workforces, technological discoveries, increasing R&D activity, and product developments are all aiding the industry's growth. As a result of global technological improvements, the global off dry wine market is estimated to provide a multitude of opportunities. Dry white wine producers are facing financial issues, such as an increase in production expenses, which has a direct impact on the wine's delicacy. Additionally, countries of Europe such as France, Italy, Germany, and the U.K. accounted for nearly 80.90 million hectolitres. Additionally, western countries account for nearly 50% of the World’s sales- and the global demand for the same has been kept upright by stronger demand from these regions.
Strong preference for semisweet off dry wine through modern trade is fueling market expansion
Throughout the forecast period, modern trade stores are poised to be the primary sales channel for off dry wine in the global market. Also, manufacturers are anticipated to shift most of their items to current trade channels. Around 80% of the wine consumed throughout the world takes place through on-sales channels. However, consumers as per various surveys now rank comfort as the utmost priority which has enabled them to unlock the off-sales channel demand. Recently, as per a survey from Food Navigator-around 38% of the respondents who had a former preference for drinking in pubs and restaurants, now express their inclination towards comfort drinking. Pertaining to white wines' adaptability in meeting all wine-tasting criteria, customers could expect to see more off dry wines employed in innovative food and beverage products. The global market for off dry wine, on the other hand, is not poised to grow quickly, as producers continue to confront problems such as challenging storage temperatures and a lack of health advantages associated with its use.
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Potential health issues pertaining to off dry wine consumption are factors impeding the market growth
Off Dry Wine consumption have a variety of effects on various persons. Consumers all over the world are becoming more aware of off dry wine's potential to harm their health. Dry White wine producers are hindered by the limited use of off dry wine in the food and beverage industries. The growing number of new research studies proving the link between white wine intake and the occurrence of inflammatory infections is preventing the worldwide market for white wine from developing at an unsustainable rate. Additionally, the global demand for wine, in general, has been taking a late blow, as for 2020, around a 3% decline was noticed from the highs of 2019. The sales channels being closed was one of the primary reasons, moreover, the industry veterans interview reveals it will take around 4-5 years to jump back on the profitability ladder within the on-sales channel post-COVID-19.
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Global Off Dry Wine Market - Forecast(2022 - 2027)
