GLOBAL COOKING SHERRY MARKET SIZE (2023 - 2030)

In 2022, the Global Cooking Sherry Market was valued at $155 Million, and is projected to reach a market size of $289.03 Million by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 8.1%.

Industry Overview:

Wine can improve the flavor of food when it is cooked. When heated, the alcohol evaporates, allowing the flavor to permeate dishes like stews and sauces. Sherry has long been a well-liked component in cooking, but it only keeps for a short time once a bottle is opened. On the other hand, sherry cooking wine is preserved with salt to lengthen its shelf life. Sherry can make food seem sweeter when cooked, although its high sodium level prohibits many from using it. Golden in color, sherry cooking wine has a pleasant scent. Its flavor is similar to a dry-drinking sherry and has a faint nutty undertone. After the sherry has finished fermenting, brandy is added to fortify the sherry base. It now has a 17% alcohol content. Nearly 12% of alcohol makes up the majority of ordinary wine. Sherry cooked is a low-calorie addition to a meal with a total fat composition of 0 grams and 4 grams of carbohydrates. Most recipes for the production of non-vegetarian food products utilize cooking wine. Cooking Wines provides suitable techniques for enhancing a wide range of foods. Cooking wine is renowned for its distinctive sweetness and high sharpness, which mix incredibly well with fatty foods like gourmet and extensive food. In the food and beverage business, the use of cooking wine is expanding.

COVID-19 pandemic impact on Cooking Sherry Market

Since cooking wine is not regarded as an essential good, the COVID-19 epidemic fully compelled wine-producing enterprises to cease operations. The COVID-19 epidemic has disrupted the supply chain in the alcohol sector by forcing the closure of manufacturing facilities and imposing additional strict regulations.  However, the widespread availability of cooking wines through various eCommerce outlets has encouraged users to keep utilizing the product. People experimented with novel culinary dishes during the epidemic by adding cooking wines. Consequently, due to the large amount of free time that individuals had during the epidemic and their experimentation with various cuisine recipes, the cooking wine industry saw moderate growth.

MARKET DRIVERS:

The huge demand for cooking wine is boosting the market's expansion

In the global food and beverage industry, cooking with wine is a growing trend. Additionally, it is getting a lot of popularity among consumers. Comparing cooking wine to traditional cooking oil, consumers can benefit from many health benefits. Making sausage, soups, ketchup, and processed meat products are all needed for cooking wine, and these applications are multiplying quickly. Due to its low-fat content and flavoring ingredients, cooking wine is frequently used in the meat processing sector to improve the flavor of meat products. Social media's increasing use has raised awareness of food, cooking techniques, ingredients, and cuisines. As a result, the hotel industry has been expanding its expenditures on the addition of cooking wine to traditional dishes from several prominent nations, including France, Italy, Spain, Lebanon, China, Japan, and South Korea. The growing trend of new generation cooks marinating food in wine is helping the market expand. The ingredients in wine marinades include wine, acidity, herbs, spices, and oil. It has been discovered that using cooking wine to marinate steak, chicken, and seafood results in meat that is soft, flavorful, and delicious. Similarly, marinating veggies in cooking wine is a growing trend. Other varieties of cooking wine aid in giving the food a smokey flavor or a fruity freshness. This type of marinating is said to be particularly beneficial when cooking on the stove, in a slow cooker, or the oven. Many dessert and cake recipes call for significant amounts of wine.

Changes in customer preferences are promoting market expansion

The market's potential will grow as a result of the globalization of cuisines brought on by a shift in people's preferences for traditional food cultures across geographic borders. The need for cooking wine products is fueled by the growing desire from the world's population for novel flavors and recipes in the food and food services sectors. Vegetable and seed oils, which are typical oils used in cooking for many years, are examples of culinary ingredients. The changing lifestyle habits, dietary choices, and cuisine trends all contribute to the need for cooking wine. Low-fat cooking ingredients are in demand from consumers, and cooking with wine is a growing trend in the food service sector. Cooking wine is viewed by the majority of consumers as a change and as having fresh flavor and taste.

MARKET RESTRAINTS:
The expansion of the cooking sherry market may be constrained by the presence of substitutes in the market

Cooking sherry can be replaced with other cooking wines such as marsala, white, and red cooking wine, all of which are readily available in supermarkets. Because it has the same fortified foundation as cooking sherry but no salt, drinking sherry closely resembles the flavor. Since wines are both fermented and acidic, they are frequently used as a substitute for sherry cooking wine. Red wine or even Madeira, a fortified Portuguese wine, can be used as a substitute when making a hearty, thick stew.  Apple or orange juice can substitute for cooking sherry as a non-alcoholic option to provide a sweet, tangy flavor to a meal.

Low consumer awareness of wine for cooking in developing nations may limit market expansion.

There are a lot of developing nations where people have little money to spend and less knowledge of emerging cooking techniques. Due to this low penetration, the market for cooking wines as a whole is hindered in its growth in these nations. Additionally, cooking wine management must be done carefully to prevent food spoilage and poor consumer experiences.

 GLOBAL COOKING SHERRY MARKET REPORT COVERAGE:

This research report on the global Cooking Sherry Market has been segmented based on application and region.

Cooking Sherry Market – By Application

• B2B

• B2C

Based on Applications, the Cooking Sherry Market is bifurcated into B2B and B2C. Fortified wine can be kept on the kitchen counter for at least a year without suffering any quality loss. Sherry-Glazed Chicken and Madeira Mushrooms are two common recipes prepared with these dessert-inspired ingredients. In 2021, the B2B market accounted for about 68.3% of total revenue. Due to the increasing popularity of gourmet food, cooking wine is now frequently used in restaurants, fine dining establishments, and other comparable places. Most chefs frequently use it for marinating or making soups, stews, and sauces.

The B2C market is anticipated to grow at the quickest CAGR of 3.9% from 2023 - 2030 as a result of millennials' growing desire to prepare diverse foods in their kitchens. This is due to a range of recipes being freely available on social media and blog pages. Additionally, since cooking wine is sold without a license, it is simple to find these products at any neighboring store. Additionally, manufacturers have been spending more money to set up online channels that target developing economies, which are predicted to continue to be a significant source of young customers.

Cooking Sherry Market - By Region:

• North America

• Europe

• Asia-Pacific

• Rest of the World

Consumers in North America are becoming more aware of cooking wine and its advantages, and the market for cooking sherry is beginning to expand in this region.  The industry in the region is anticipated to be driven by rising interest in gourmet foods.

The European Union's consumers constantly define new trends in foods and beverages and are renowned for their inventiveness when it comes to recipes, making Europe the most prominent location for the cooking sherry business. 

Cooking wine is traditionally consumed in nations like China, Japan, Switzerland, and New Zealand, and its popularity is on the rise. Asia Pacific is anticipated to experience the fastest CAGR of 4.1% from 2023 - 2030. This culinary wine is used by consumers in the area to flavor cuisine as well as tenderize meat and shellfish by marinating. To generate a significant amount of cooking wine consumers in the future, manufacturers must concentrate on the marketing and promoting their products.

Major Key Players in the Market

1. Mizkan America, Inc.

 2. Roland Foods, LLC.

3. World Finer Foods

 4. Goya Foods, Inc.

 5. RecipeTin Eats

 6. KAME

 7. Kedem Food Products

 8. Marina Foods, Inc.

 9. KIKKOMAN SALES USA, INC.

 10. Batory Foods

 11. Gourmet Classic Ltd.

 12. ECOVINAL SL

 13. The Kroger Co.

14. LinChen Inc.

 15. AAK AB