Apple
Wine Market: Overview
Earliest
form of wine was invented in China 9000 years back. Wine is an
alcoholic beverage formed with mostly fermentation of grapes. When
grapes ferment, chemical reaction is triggered without the addition
of sugars, acids, enzymes, water, or other nutrients. Yeast is added
with time to the oak barrel which consumes the sugar in the grapes
and converts it to ethanol and carbon dioxide. With expansion of wine
industry and rising consumer’s desire to have different type of
wines alcoholic and non-alcoholic has pushed wine industry to
explore new fruits for wine making which gave birth to inception of
apple wine market. There has been a decent rise in demand of apple
wine and over the forecast period it can be anticipated that apple
wine market will register a healthy CAGR.
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Apple
Wine Market: Drivers & Restraints
The
primary factor for driving the growth of apple wine market is the
up-market restaurant chains and luxury hotels and resorts. Apple wine
in past has been perceived to be a premium beverage for the elite and
wealthy class. But with emergence of middle income class and rise in
purchasing power of individuals apple wine is now is in everyone’s
wish list to try for. For pulling some targeted customers as well as
the emerging middle class people who are now the potential new buyer
class, restaurant chains, departmental stores, hypermarket, modern
retail outlet have started to sell apple wine. In occasions such as
Thanksgiving, Birthday, Anniversary etc. gifting of apple wine has
almost touched the threshold of customary gift. Modern retail chains,
hypermarkets, supermarkets has been increasing which has enable the
apple wine availability at consumer’s end. New age of farmers no
longer look only for selling apple in open fruit market. With rise in
awareness and possible new business avenues apples are now sold
almost equally to wine making industry who can give better margin to
farmers. Educated class and new age entrepreneurs are also making
investment in apple orchards as a viable business opportunity. These
factors all taken into account at an individual level defines to be
key drivers for apple wine market.
Rise
in inflation, trade barrier across nations, decline in country’s
infrastructure such as fall in establishment of modern retail outlets
and supermarkets can be few possible restraints for apple wine
market.
Apple
Wine Market: Market Segmentation
The
apple
wine market is segmented into two parts based on the product
type, distribution channels, and manufacturing location.
Based
on the product type the apple wine market is segmented into:
- Alcoholic Apple Wine
- Non-Alcoholic Apple Wine
Based
on the application type the apple wine market is segmented into:
- Beverages
- Cosmetics
- Kitchen Use
Based
on the distribution type the apple wine market is segmented into:
- B2B
- B2C
- E-Commerce
Based
on manufacturing location the apple wine market is segmented into:
- Locally Manufactured
- Overseas Manufactured
Apple
Wine Market: Regional Outlook
Regarding
geography, apple wine market has been categorized into five key
regions including North America, Western Europe, Eastern Europe,
APEJ, Japan, Latin America, and the Middle East & Africa. Apple
Wine market is expected to register significant CAGR during the
forecast period. North America represents the comparatively highest
market share and growth with relatively higher CAGR in forecast
period. Reason for a market with a healthy CAGR in North America is
due to the high prevalence of wine drinking culture among the masses.
Even for various cuisines prepared in North America is wine based.
Next to North America, Western Europe stands for apple wine market
owing to similar trends. APEJ is a new emerging market for apple wine
and the market has been gaining a rapid momentum due to rise in
economic level and increasing consumer demand. Eastern Europe follows
APEJ in apple wine market, Eastern Europe has a steady market for
apple wine and it is gaining momentum over the course of time. MEA
and Latin America has also witnessed a surge in apple wine market and
over the forecast period it can be anticipated that apple wine market
will gain a significant market in these regions as well.
Apple
Wine Market: Key Players
Some
of the key players identified in the Apple Wine market are:-
- GEORGETOWN VINEYARDS
- Neige Apple Ice Wine
- Boar's Head
- Weidmann & Groh
- Palm Bay International
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