The Vinification Monitoring Market size is forecast to reach $1.8 billion by 2026, growing at a CAGR of 5.87% during the forecast period 2021-2026. Vinification is process which involves the fermentation of grapes juice into wine and finally packaging into bottles. The whole process involves monitoring of two types such as real time monitoring and control and quality monitoring. The monitoring process involves physio-chemical measurements, level measurements and monitoring and control management. The surge in demand for wine consumption in developed economies is driving the market towards growth. The rising demand for automation and robotics by wine manufacturers is also propelling the market towards growth during the forecast period 2021-2026. Moreover, the growing number of wineries is driving the large-scale production of wine is further set to enhance the growth of overall market for the Vinification Monitoring Market during the forecast period 2021-2026.
Vinification Monitoring Market Segment Analysis – By Monitoring Type
The Hardware segment held the largest share in the Vinification Monitoring Market in 2020 and is estimated to grow at a CAGR of 6.10% during the forecast period 2021-2026. The increasing demand for internet of thing is advancing the development of low-cost sensors and wireless technology which helps in providing the real time data about the on-going process in the wine production. The major role of monitoring devices is in the temperature check as for wine it is very important to control the temperature. The upcoming of remote-controlled monitoring devices with modern communication system helps in better management of the field related activities in the wine production and allows ease of maintain their data regarding the on-field wine production operations. The devices also provide on-site services. Specific measurement and easy to use mechanised features which is driving the market for this segment. Hardware segment is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
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Vinification Monitoring Market Segment Analysis – By Application Type
The Red wine held the largest share in the Vinification Monitoring Market in 2020. The distinct taste of wine makes it a popular alcoholic beverage and red wines are popular in demand from France and Italy regions. Owing to the premium quality of wine produced by these regions makes it as popular drink among the consumers all across the world. As red wines are made from dark varieties of grapes such as black and red, they produce antioxidants which prevents human body from various health issues has also driven its demand as a popular drink among the consumers. Red wine is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
Vinification Monitoring Market Segment Analysis – By Geography
Europe is anticipated to dominate the Vinification Monitoring Market in 2020 with a share of 39.26% followed by Asia-Pacific, owing to the various benefits attached with the upcoming of advance technology which is increasing the production capacity of the winemakers is driving the market in this region. European regions such as France, Portugal and Italy have well established market for wine production which is also driving the market towards growth. Additionally, France is also adopting new technologies such as robots and drones in order to increase their productivity which is also driving the market towards growth.
However, Asia- Pacific region is set to be the fastest growing CAGR during the forecast period 2021-2026. Owing to the shifting consumer preference towards wine consumption as a taste experiment is increasing their demand in emerging markets. Also, Asian countries such as Australia have increased their wine export, past many years is driving the market towards growth. Additionally, China has also started red wine production in order to meet their growing consumption demand for red wine which is also propelling demand for monitoring technologies in this region which is also further driving the market towards growth.
Vinification Monitoring Market Drivers
Increasing population pool towards wine consumption
The increasing consumption of wine as a trend of trying new taste by the millennial generation is driving the market towards growth. With increasing urbanisation and changing lifestyle is increasing the trend for wine consumption in the developed regions. Also, with the on- going adoption of western culture by the emerging markets have also started producing wine is also driving the market for vinification monitoring towards growth. Thus, increasing the growth of the Vinification Monitoring Market during the forecast period 2021-2026.
Increasing adoption of advanced technologies
The adoption of advanced technologies is also increasing in order to support the large-scale wine production process from the viniculture process to the final bottling process. The increasing use of automation is helping the wine makers to easily gather the wine processing information, control temperature, and promote business management and inventory operation. The upcoming technologies are also promoting easy regular on-site quality checks along with wireless communication to transfer data through the internet of thing. Thus, increasing the growth of the Vinification Monitoring Market during the forecast period 2021-2026.
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Vinification Monitoring Market Challenges
Higher cost related to the new technologies
Some of the factors that are set to impede the growth of the Vinification Monitoring Market includes the higher maintenance cost related to the adoption of new technologies along with requirement of infrastructure capacities hinders the market growth for the Vinification Monitoring market.
Vinification Monitoring Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Vinification Monitoring Market. In 2020, the Vinification Monitoring Market share is consolidated by the top ten players present in the market. Vinification Monitoring Market, the top 10 companies are Aqualabo, Winegrid, EuroCave, Avast Solutions, LG Electronics, MS Winery Software, Xudle Inc., ATPGroup, Della Toffola, Northern Brewer.
In Nov. 2020, ATP Group won Wine Network Industry ninth annual Winnovation award for the product Air Mixing which was developed by Parsec. The product was developed to break the cap in the vinification of red wine. This technology manages the marc cap with controlled air injection that helps in homogeneous mixing inside the tank further helps in reducing the vinification process.
Europe is anticipated to dominate the Vinification Monitoring Market in 2020 owing to several factors such as increasing demand for wine consumption and presence of well-established market of wine producers. The Vinification Monitoring Market scope for different regions will be provided in the final report.
The growing number of wineries is promoting the adoption of advance technologies in order to boost their large -scale production and it is likely to aid in the market growth of the Vinification Monitoring.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vinification Monitoring Market report.
The higher maintenance cost associated with new technologies is poised to create hurdles for the Vinification Monitoring Market.
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