Cooking Wine Market Size Worth $427.2 Million by 2027 | CAGR 3.7%: Grand View Research, Inc.
SAN FRANCISCO, April 20, 2020 /PRNewswire/ -- The global cooking wine market size is expected to reach USD 427.2 million by 2027, expanding at a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc. 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.
Key suggestions from the report:
- 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 4.1% over the forecast period owing to growing popularity of these alcoholic ingredients in Korean and Japanese cuisines
- Some of the prominent companies present in the cooking wine market are 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.
Read 80 page research report with ToC on "Cooking Wine Market Size, Share & Trends Analysis Report By Product (White, Red, Dessert), By Application (B2B, B2C), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/cooking-wine-market
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.
Cooking wines are also popularly used for cooking pan sauces. Madeira, a dessert wine, is used to make sauce for dishes based on bird meat. Crisp white wine is used to prepare sauce for dishes with pork, chicken, and seafood. Red variants are used to make sauce for dishes with steaks and mushrooms. These are also widely used to prepare spaghetti sauce.
Grand View Research has segmented the global cooking wine market on the basis of product, application, and region:
- Cooking Wine Product Outlook (Revenue, USD Million, 2016 - 2027)
- Cooking Wine Application Outlook (Revenue, USD Million, 2016 - 2027)
- Cooking Wine Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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