Orange Wine Market: Overview
The orange wine market is rising steadily and is poised to continue to rise at a steady pace over the 2023 – 2030 forecast period driven by a number of favorable factors. High spending on luxury food and beverages, including specialty wines by affluent individuals is a key factor fuelling the orange wine market. Surge in the number of high net worth individuals in emerging economies has created a market for luxury food and beverages. These individuals spend hefty amounts for parties, to entertain guests and even for personal enjoyment, wherein luxury drinks such as orange wine are served.
The report divides the orange wine market on the basis of sales channel and geography.
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The research report presents a comprehensive assessment of the orange wine market comprising valuable insights, historical data, facts, and industry-validated market data. The report provides projections of leading segments based on a suitable set of assumptions and proven research methodologies. Analysts examined demand dynamics and growth indices to provide a conclusive analysis of the orange wine market over the 2023 – 2030 forecast period. Furthermore, key regions in the orange wine market are studied along with their growth rate projection over the forecast period. Lastly, insights into the competitive landscape of the orange wine market, which covers growth strategies of key players is another feature of this report.
Orange Wine Market: Competitive Landscape
The orange wine market is highly fragmented due to the presence of a large of small and large players. In terms of business practice, orange wine is mostly produced by small breweries and is sold under the label of branded wines.
Some large players in the orange wine market are MarksandSpencer Group Plc., Radikon, Gravner, and Salvo Foti among others.
Orange Wine Market: Key Trends
Initiatives of alcohol brewers to create new tastes such as flavored alcoholic drinks is likely to create opportunities in the overall orange wine market in the future. Alcohol brewers are persistent to bring out new and palatable flavors that are attractive to alcohol enthusiasts. New flavors for wine and other alcoholic drinks attract customers to taste them, thus lays ground for manufacturers to strategize to capitalize on such instincts.
Trend among the urban population for night parties at clubs, discotheques is a key factor for high consumption of alcohol in urban areas. High spending power and curiosity to taste new flavors of alcohol is favorable to the growth of orange wine market.
Influence of social media, chat with peers, fast flow of information, multiple channels of communication are some factors creating demand for specialty alcoholic drinks among the millennial population. This favors growth in orange wine market.
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Orange Wine Market: Regional Assessment
Key regions into which the orange wine market is divided are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe is at the forefront among other key regions in the orange wine market. Primary factor spelling growth in the orange wine market of the region is Northeastern Italy is the world’s largest producer of orange wine. Age-old practice of consumption of wines, spirits and fondness for new flavors of alcohol is another key factor spurring the orange wine market in Europe.
Asia Pacific is expected to emerge as a key region in the overall orange wine market in the forthcoming years. Rapid rise in the number of high net worth individuals in emerging economies of the region has led to the surge in demand for luxury food and beverages. Consumers in the high income bracket spend huge amount for social get-togethers, to entertain guests, and even for their personal enjoyment. This opens new vistas for the orange wine market in Asia Pacific.