The Latin America, Middle East and Africa Cooking Wine Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
Cooking wine is a type of wine particularly made for utilization in the cooking process. The wine alcohol content present in the cooking wine is comparatively high. This is due to the fact that much of the alcohol will remove during the cooking. Cooking wine also contains salt and various preservatives which are not available in traditional drinking wine. The preservatives help it to have a better shelf life as compared to other wines. The sale is included to improve the flavor of the dish. The high content of alcohol also significantly increases the calories in wine.
In the making of soups and stews, cooking wines are highly used. Red wine finds considerable usage in slow-cooking stews. In a similar manner, seafood soups are suitable with dessert forms such as Marsala, Madeira, or sherry. A white alternative is frequently utilized for the purpose of cooking pasta and poaching eggs. Due to the color and deeper flavors of red variants, a large number of restaurants are including these variants while cooking risotto and spaghetti.
As there are many Muslim-majority countries in the Middle East, the ban on alcohol and related products has substantially hampered the demand for the product across Middle East countries. In addition, there are many developing as well as under-developed countries in the region due to which the product finds low penetration and adoption in such countries.
Moreover, the low disposable income and scarcity of food in various poverty-ridden countries are expected to slow down the demand & growth of cooking wine in this region. However, Latin American countries are more aware of the benefits of including cooking wine in the food. Therefore, they are trying to spend money on such products, hence, contributing to the growth & demand of the regional cooking wine market during the forthcoming years.
The B2B market dominated the Argentina Cooking Wine Market by Application in 2020, thereby, achieving a market value of $2,617.6 Thousands by 2027. The B2C market is expected to witness a CAGR of 8% during (2021 - 2027).
Based on Products, the market is segmented into White Wine, Dessert, Red Wine and other products. Based on Application, the market is segmented into B2B and B2C. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Cooking Wine Market is Predict to reach $405.1 Million by 2027, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AAK AB, The Kroger Co., Stratas Foods, Batory Foods, Inc., Iberica Export, LinChen, Inc., Marina Foods, Inc., and Ecovinal SL.
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