Vinification Monitoring Market Size Projected to Reach $3,700 Million by 2026
Increasing Consumption of Wine Among People and Changing Consumption Patterns Are Increasing the Growth of This Vinification Monitoring Market.
Hyderabad, India – July 24, 2021 /MarketersMedia/ —
Vinification Monitoring Market size is projected to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Vinification is a procedure that requires the extraction of grapes juice into wine which are packed into wine bottles. There are two types of processes involved for monitoring – real time monitoring and control and quality monitoring. Malolactic fermentation is a kind of wine making process that helps to monitor the presence of bacteria. Viticulture is also known as wine growing that helps in harvesting of grapes. The acidity of wine plays an important role which is measured by titratable acidity. Growing consumption of wine among people and rising adoption of advanced technologies in order to support the large-scale wine production process is the major factor driving the growth of this market. Furthermore, the increasing number of wineries increases the production of wine is set to further enhance the overall market demand for Vinification Monitoring Market for the period 2021-2026.
Vinification Monitoring Segment Analysis – By Monitoring Type
The Vinification Monitoring Market based on Monitoring Type can be further segmented into Hardware and Software. The Hardware segment is the major segment generating revenue in 2020. This is mainly owing to increasing development in the internet of things helps in advancing wireless technology that increases the wine production as it provides real time data that increases the role of titratable acidity and are increasing the growth of this market. The Software segment is estimated to register the fastest CAGR of 1.05% for the period 2021-2026. This is mainly owing to it helps in increasing the winery unit and production capacity and are increasing the growth of this market.
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Vinification Monitoring Segment Analysis – By Application
The Vinification Monitoring Market based on Application can be further segmented into White Wine, Rose Wine, and Red Wine. The Red Wine segment registers for the highest Vinification Monitoring market share in 2020. This is mainly owing to its definite taste which increases popularity in alcoholic beverages. Moreover, it has more premium quality of wine that increases the consumption and demand of red wine and are rising the growth of this market. The Rose Wine segment is forecasted to register the fastest CAGR of 2% over 2021-2026. This is mainly owing to it provides various health benefits such as reduces risk of heart attack that are increasing the growth of this market.
Vinification Monitoring Segment Analysis – By Geography
Europe dominated the Vinification Monitoring Market with major share of 40% in 2020. This is owing to the growing adoption and intake of wine, rising advancement technology for the production of wine and rising availability of wine producers increases the growth in wine industry and are rising the growth of this region. According to World Health Organization, in 2020 more than 41.5% of population is consuming alcohol in France that increases the demand of viticulture and rising the growth of this market. However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 3.05% during the forecast period 2021-2026 owing to increasing consumer awareness towards wine consumption and rising advancement in technology.
Vinification Monitoring Market Drivers
Growing Consumption of Wine Among People
Increasing consumption of wine among people and changing consumption patterns are increasing the growth of this market. Moreover, rising adoption of western culture increases the intake of wine that helps to increase the growth of the Vinification Monitoring Market over 2021-2026.
Rising Adoption of Advanced Technologies
Increasing technological development helps in increasing the wine production that rises the demand of Malolactic fermentation and is increasing the growth of this Market. Moreover, rising use of automation helps in easy processing of wine that increases the growth of Vinification Monitoring Market over 2021-2026.
Covid-19 Impact:
COVID-19 pandemic had greatly impacted the demand of Vinification Monitoring Market. Owing to shut down in the manufacturing units, the production of wine is stopped that reduces the sales and reduces the growth in wine industry and are negatively impacted the growth of this market.
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Vinification Monitoring Market Challenges
High Cost of Wine Making Technologies
The factors that are set to impede the growth of the Vinification Monitoring Market encompass the high cost of wine making technologies and rising maintenance cost that create hurdles for the Vinification Monitoring Market.
Vinification Monitoring Landscape
Vinification Monitoring top 10 companies are Aqualabo, Winegrid, EuroCave, Avast Solutions, LG Electronics, MS Winery Software, Xudle Inc., ATPGroup, Della Toffola, and Northern Brewer.
Development
In November 2020, ATP Group developed a product which can break the cap in the vinification of red wine.
Key Takeaways
Geographically, in 2020, Europe dominated the Vinification Monitoring Market owing to growing adoption and intake of wine, rising advancement technology for the production of wine and rising availability of wine producers, thereby expanding the market growth.
Growing consumption of wine among people and rising adoption of advanced technologies are likely to aid in the market growth of the Vinification Monitoring.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Vinification Monitoring Market report.
High cost of wine making technologies is set to create hurdles for the Vinification Monitoring Market
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Source: MarketersMedia
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