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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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.
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.
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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