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What Is The Size Of Global Fortified Wine Industry?
The Fortified Wine Market is largely driven by increasing alcohol socialization among consumers along with the increasing adoption of European culture.
Rapid socioeconomic changes and urbanization are propelling demand for premium alcoholic drinks, including wines across countries.
Wine is an integral part of Western culture and is disseminated globally, particularly in Asian countries, which is supporting the market's exponential rise.
The presence of high sugar and calorie content in fortified wines may stifle the market growth of fortified wine.
The ongoing COVID-19 pandemic has resulted in an unprecedented drop in the global wine trade in 2020, due to the lockdowns imposed by several governments across countries, which have halted wine production. Furthermore, extensive closures of restaurants and bars, as well as the restrictions on socializing have lowered the sales of fortified wine.
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Global Fortified Wine Market By Product Type
The Global Fortified Wine market is segmented by Product type into Port Wine, Vermouth, Sherry and Others.
The vermouth segment held the largest share of the global fortified wine market in 2022, owing to the presence of a wide range of botanicals, such as herbs, spices, roots, and flowers that provide a number of potential health benefits, such as improving digestion, reducing stress, reducing inflammation, protecting the immune systems, and more.
The increasing use of vermouth wines in making cocktails, especially manhattan, and martinis because of their sweetness and lower alcohol levels is propelling its market growth.
Furthermore, it has lower Alcohol by Volume (ABV) than other fortified wines which is a major contributing growth factor of vermouth wines.
Global Fortified Wine Market By Distribution Channel
The Global Fortified Wine market is segmented by Distribution channel into Pubs, Bars, & Restaurants, Internet Retailing/Online, Liquor Stores, Supermarkets/Hypermarkets and Others.
The Liquor Stores segment held the largest share of the Global Fortified Wine Market in 2022, owing to the increased number of liquor stores across countries, where individuals can easily seek wines.
The availability of a wide range of products under numerous brands at lower prices in liquor stores than in bars, restaurants, nightclubs, hotels, and other on-trade channels is also driving the market growth of liquor stores. Furthermore, the segment is expected to remain dominant during the forecast period (2022-2028), owing to the improved alcohol distribution channel network globally.
Global Fortified Wine Market By Body Type
The Global Fortified Wine market is segmented by Body type into Light Bodies, Medium Bodies and Full Bodies.
The Full Body segment held the largest share of the Global Fortified Wine Market in 2022, as the majority of red wines fall into this category, which is the most widely purchased wine by individuals among others, including rose and white.
Another growth factor is the presence of alcohol levels and certain substances, such as antioxidants in red wine, which help in the prevention of coronary artery disease, leading to heart attacks.
Furthermore, unlike light or medium-bodied wines, full-bodied wines have low acidity levels that prevent gastric acid secretion and gastrin release, as well as a high alcohol content that is frequently used in cocktail making.
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Key Topics Covered in the Report
- Snapshot of the Global Fortified Wine Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Fortified Wine Market
- Historic Growth of the Overall Global Fortified Wine Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Fortified Wine Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Fortified Wine Market
- Future Market Forecast and Growth Rates of the Total Global Fortified Wine Market and by Segments
- Market Size of Product Type, Distribution Channel, and Body Type Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Fortified Wine Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- & J. Gallo Winery
- Constellation Brands, Inc.
- Treasury Wine Estates
- Trinchero Family Estates
- Deutsch Family Wine & Spirits
- The Wine Group
- Precept Wine, LLC
- Backsberg
- Sogevinus Fine Wines
- Taylor's Port
Notable Emerging Companies Mentioned in the Report
- Bacardi Limited
- McWilliam’s Wines
- Rhys & Rylee LLC
- Campari-Milano N.V.
- LLI Gancia & C. SpA Canelli
- Anchor Brewing
- Imbue Curls US.
- Emilio Lustau S.A.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Feedstock Suppliers (Wine Grapes)
- Supplier of Chemical Additives
- Wine Branding and Marketing Companies
- Wine Producing Companies
- Vineyard Management Companies
- National Wine Trade Federation
- Wine International Association (WIA)
- World Wine Trade Group
- Specialty Wine Retailers Association (SWRA)
- National Association of Wine Retailers
- Wine Trade Association
- American Association of Wine Economists
- American Wine Society
- Suppliers of Packaging Materials (Suppliers of Bottles, Corks)
- Food Regulatory Authorities
- Alcoholic Beverages Regulatory Authorities
- Government Ministries and Departments of Alcoholic Beverages
- Investment Banks and PE Firms Focused on Alcoholic Beverages Industry
- Potential Entrants into Alcoholic Beverages Industry
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:
Global Fortified Wine Market
