News

The global Cooking Wine market size is expected to be worth around US$ 427.1 million by 2027, according to a new report by Vision Research Reports.

The global Cooking Wine market size was valued at US$ 320.4 million in 2019 and is anticipated to grow at a CAGR of 3.6% during forecast period 2020 to 2027.

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Growth Factors

Globalization of cuisines due to shifting inclination of people towards traditional food cultures across their geographic boundaries is expected to expand the market scope.

Ability of the cooking wine to enhance the taste and flavor of the food is the primary reason behind its increasing adoption. Its multipurpose application in quick sautés or hours long braises, sauce-making or baking gives all kinds of cooks a space to try its application in their dishes uniquely.

The use of cooking wines is also increasing for the preparation of soups and stews. It is considered that red wine works in synergy with soups having meat and root-vegetable concoctions, such as beef stews and cream soups. Red wine is also suitable for slow cooking stews. Likewise, seafood soups go along with dessert forms, including Madeira, Marsala or sherry. White variants are often used for poaching eggs and cooking pastas. Various restaurants are often seen cooking spaghetti and risotto with red variants owing to their color as well as deeper flavors.

Report Highlights

• On the basis of product, the white form is likely to reach USD 147.1 million by 2027, attributed to the multipurpose use of these products in a variety of recipes
• The red product segment is expected to expand at the fastest CAGR of 4.1% from 2020 to 2027. Growing importance of this variant due to its health benefits, such as improvement of cardiovascular health and gut microbiome, is expected to remain a favorable factor for the segment growth
• Based on application, the B2B segment is expected to account for more than 68% share of the global revenue by 2027. This is attributed to increasing preference for gourmet food among the millennials in fine dine restaurants
• Asia Pacific is likely to exhibit a CAGR of 4.0% over the forecast period owing to growing popularity of these alcoholic ingredients in Korean and Japanese cuisines

Key Players

AAK AB; Batory Foods; De Vinco Company; ECOVINAL; Elegre; Iberica Export; LinChen Inc.; Marina Foods, Inc.; Stratas Foods; The Kroger Co.; and Mizkan America, Inc.

Market Segmentation