Fortified Wine Market Size, Share & Trends Analysis Report by Product (Port Wine, Vermouth, Sherry), By Distribution Channel (Pub, Bars & Restaurants, Internet Retailing, Liquor Stores, Supermarkets) and by region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Fortified Wine Market Overview
The global Fortified Wine Market size is projected to reach a CAGR of 12.3% from 2023-2030.
Fortified wine is blended with various vintages and grapes. It is distilled with spirits like brandy to enhance its flavour and strength. Due to its high sweetness level, and tendency to be consumed after meals, it is often referred to as 'Dessert Wine'. This product has two main product variants, named dry wine and sweet wine, the production of which depends on the time addition of brandy. The cheaper the wine, the lesser time it has taken to distil with brandy. Also, fortified wine is widely consumed due to its nutritive properties.
The rising consumption and demand for alcoholic drinks in various special events are further supporting the industry's growth. The consumption of the product is considered social recognition, which in turn will drive the industry growth during the forecast timeline. In addition to this, various health benefits are associated with consumption of the fortified wine. These are the major driving factors for market growth. Moreover, the increasing investment in R&D by various manufacturers to produce innovative products of fortified wine across the globe is creating opportunities for the market over the upcoming years.
On the other hand, the increased taxation on wine in several nations and stringent government rules and regulations are hindering the growth of the market during the forecast period.
Get a Sample Copy of the Fortified Wine Market Research Report: https://www.delvens.com/get-free-sample/fortified-wine-market
The COVID-19 outbreak has affected the wine market globally. The lockdown situation has shut all the industries due to which production is affected. All the bars, restaurants, pubs, and liquor stores, in almost all countries, have been shut, disrupting the sales volume and frequency of the wine. Alcohol products do not come under the list of essential items made by the government amid the Corona pandemic, which has given a massive blow to the sales of alcohol. Also, trade activities are at a halt, again affecting the supply of wine and other alcoholic beverages.
Delvens Industry Expert's Standpoint
The growth in the market is primarily driven by the rising demand for premium and luxury wines, increasing wine consumption across the globe, and growing demand for fortified wine in cocktails. Furthermore, the increase in online retailing and the extension of the supply network both drive this market. Along with these, there are growing consumer disposable incomes, enhanced standard of living, elevated consumption of alcoholic beverages, and enhanced food and beverage sectors. Moreover, the upgradation in manufacturing and innovation in flavour & taste are expected to grow the fortified wine market in the next years.
Key Findings
• The product segment is further segmented into Port wine, Vermouth, Sherry and Others. The vermouth segment accounted for the largest market share during the forecast period and is anticipated to expand during the period 2023-2030. The increasing use of vermouth wine as an antiseptic and medicinal drug to treat cold and viral diseases is expected to drive market growth.
• The distributional channel segment is further fragmented into Pub, Bars & Restaurants, Internet Retailing, Liquor Stores, Supermarkets and Others. The increasing number of liquor stores across the globe is driving the market. Various manufacturers are selling their products through offline channels, which is propelling the growth of the segment.
• The market is also divided into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Europe has the largest contribution to the global fortified wine market, with over 50% in 2022. The growing consumption of wine in countries like Germany, France, Italy, Spain, and Portugal is expected to drive the market in this region.
• The lockdown announced during the COVID-19 pandemic caused disruption in transportation and suspended the supply of raw materials for a certain time, and affected the manufacturing of fortified wine. However, the rising awareness about health and promotion of the use of fortified wine after the COVID-19 pandemic has projected to witness a healthy market growth rate in the upcoming years.
Fortified Wine Market Regional Analysis
Europe to Dominate the Market
• Europe has the largest contribution to the global fortified wine market, with over 50% in 2022. The growing consumption of wine in countries like Germany, France, Italy, Spain, and Portugal is expected to drive the market in this region.
• In addition to this, the growing demand for flavoured wine has projected market growth during the forecast period.
Fortified Wine Market Competitive Landscape
• Bacardi Limited
• Davide Campari-Milano S.p.A
• The Wine Group
• E&J Gallo Winery
• Anchor Brewing Company
• Atsby Vermouth
• Gancia
• Imbue
• Symington Family Estates
• Sogrape Vinhos, S.A.
• McWilliam’s Wines Group Ltd
• Bodegas Lustau
• González Byass
• Constellation Brands, Inc.
• Treasury Wine Estate
• Trinchero family Estates
• Liberty Wines Ltd.
• Precept Wine, LLC
• Backsberg
• Taylor’s Port
Inquire before you purchase to increase your business' revenue: https://www.delvens.com/Inquire-before-buying/fortified-wine-market
Fortified Wine Market Recent Developments
• In January 2021, E&J Gallo, a California wine brand, announced that it had sold its two key fortified wine brands to Precept Wine, a Seattle-based company. The company had sold its Fairbanks and Sheffield Cellars fortified wine brands to Precept. This development is expected to enhance Precept’s rising wine portfolio and expand its overall footprint, in the near period.
• In April 2021, Anheuser-Busch InBev, one of the biggest players in the market, announced that it would produce and distribute products for the major firm, The Wine Group, in the United States. Under this novel agreement, the former would produce MD/20/20 Spiked Punch, the Wine Group’s fortified wine brand. The company would package and distribute the brand.
Reasons to Acquire in the Fortified Wine Market
• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors.
• Gain authentic and granular data access for Fortified Wine Market so as to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Direct Purchase of Fortified Wine Market Report Research Report: https://www.delvens.com/checkout/fortified-wine-market
Frequently Asked Questions
What are the years considered to study Fortified Wine Market intelligence report?
What is the compound annual growth rate (CAGR) of the Fortified Wine Market?
Which region holds the largest market share in Fortified Wine Market?
Which region is the fastest growing in Fortified Wine Market?
Who are the major players in Fortified Wine Market?
Browse Related Reports:
Acerola Extract Market - Trends Forecast Till 2028
Acerola Extract Market by Application (Meat Products, Bakery Products, Confectioneries, Dairy & Frozen Desserts, and Beverages), Form (Dry and Liquid), Nature (Conventional and Organic), Functionality and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Coconut Oil Market - Trends Forecast Till 2028
Coconut Oil Market by Product Type (RBD, Virgin, and Crude), Source (Dry Coconut and Wet Coconut), Application (Food & Beverages, Cosmetics & Personal Care Products, and Pharmaceuticals), Nature, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Flavored Syrups Market - Trends Forecast Till 2028
Flavored Syrups Market by Flavor (Fruit, Chocolate, Vanilla, Coffee, Herbs & Seasonings), Application (Beverages, Diary & Frozen Desserts, Confectionery, Bakery), Flavor Type (Sweet, Salty, Sour, Savory, Mint), Product type (Natural, Synthetic) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
About Us:
Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.
Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
Contact Us:
UNIT NO. 2126, TOWER B,
21ST FLOOR ALPHATHUM
SECTOR 90 NOIDA 201305, IN
+44-20-8638-5055
[email protected]