Cooking Wine Market To Hit Value 7.2 Million By 2027 |Grand View Research,Inc

Posted by Mrudula Anil Karmarkar on February 3rd, 2022

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.

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.Likewise, increasing penetration of social media has been creating awareness regarding food, cooking methods, ingredients, and cuisines. As a result, the hotel industry has been increasing its spending on the incorporation of cooking wine in the authentic foods of various countries, including France, Italy, Spain, Lebanon, China, Japan, and South Korea, that are popular across the world.

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Key market participants include 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. Companies are focusing on ideal business development by substantiating different development techniques. M&A and the formation of strategic alliances are expected to remain the critical success factors for the market participants over the next few years. Additionally, manufacturers have been increasing their spending on the establishment of online channels catering to the developing markets, including China and India, which are expected to remain a vast customer base of millennials.

Further key findings from the study suggest:

• 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. 

Grand View Research has segmented the global cooking wine market on the basis of product, application:

Cooking Wine Product Outlook (Revenue, USD Million, 2016 - 2027)

• White
• Red
• Dessert
• Others

Cooking Wine Application Outlook (Revenue, USD Million, 2016 - 2027)

• B2B
• B2C

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.