Global Wine Making Machinery Market To Generate $ 2.8 Billion By 2027: Allied Market Research
Increase in number of wineries, increase in wine production, high potential of wine export market demand are driving the growth of wine making machinery market
PORTLAND, OR, UNITED STATES, October 12, 2021 /EINPresswire.com/ – According to the report published by Allied Market Research, the wine production machinery market generated $ 2.0 billion in 2019 and is expected to reach $ 2.8 billion by 2030, with a CAGR of 4.2% from 2020 to 2027. The report provides a detailed analysis of the changing dynamics market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Europe contributed the highest share in terms of revenue in 2019, contributing more than three-fifths of the total market share. The outbreak of the COVID-19 pandemic resulted in the temporary closure of wine production facilities, however, the volume of consumption was not affected much as wine enthusiasts continued to consume.
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Shankar Bhandalkar, Research Team Leader, Food and Beverage at Allied Market Research, said, âThe global wine production machinery market is expected to experience significant growth due to the increase in the number of wineries and the growing market. adoption of robotics and automation in wine making. In addition, the increasing trend of wine consumption is expected to increase the overall revenues of the industry.
â¢ The outbreak of the COVID-19 pandemic has resulted in a global lockdown and temporary shutdown of wine production facilities and disrupted the supply chain across the globe, which has hurt market growth.
â¢ However, the volume of consumption was little impacted, as amateurs continued to consume.
The report offers detailed segmentation of the global wine making machinery market on the basis of type and region.
On the basis of type, the temperature control equipment segment held the highest market share in 2019, accounting for nearly two-fifths of the total market share, and is expected to maintain its leading status during the period. forecast. However, crushing and baling equipment segment is expected to register the highest CAGR of 4.5% from 2020 to 2027.
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Based on region, Europe contributed the highest share in terms of revenue in 2019, contributing more than three-fifths of the total market share, and is expected to retain its dominant share by 2027. However, the North America region is expected to exhibit the fastest CAGR of 5.2% during the forecast period.
The major players in the global wine making machinery market analyzed in the research include GW KENT, Agrovin, Della Toffola Pacific, Love Brewing Ltd, Northern Brewer, Adamark Airknife, Paul Mueller Company, Vitikit Limited, Tanium Machinery and VeCriveller Group.
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