Driven By the Increasing Alcohol Socialization Among Consumers Along with The Increasing Adoption of European culture, the Global Fortified Wine Market is forecasted to Cross US$ 30 Bn by 2028 says Ken Research Study.
A fortified wine is one that has a diluted spirit added to it during the winemaking process to increase its alcohol content. There are various types of fortified wines, and each has its own set of regulations. These regulations cover the type of base wine, the type of base spirit, the range of Alcohol by Volume (ABV), the amount of sugar, and the length of aging.
Ken Research shares 3 key insights on this high opportunity market from its latest research study
- Fortified Wine Market Continues to Grow Owing to The Increasing Adoption of European Culture.
The Global Fortified Wine Industry is expected to witness stable growth during the forecast period, owing to the increasing alcohol socialization among consumers along with the increasing adoption of European culture. The global fortified wine market was valued at ~US$ 10 billion in 2017, it is estimated to be ~US$ 13 billion in 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing with a CAGR of ~7%.
Europe is the dominating region in the Global Fortified Wine Market due to the presence of the world’s largest wine-producing countries, including France, Italy, Spain, and Portugal. For instance, according to World Population Review, four countries, including France, Italy, and Spain produce more than half of the world's wine. Italy produced 44.5 million hectoliters (mhl) of wine in 2021, followed by Spain and France, which produced 35 mhl and 34.2 mhl, respectively.
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- The Rising Socializing Trend among the Young Population, Combined with the Individuals’ Shifting Lifestyle Preferences is driving the Market Growth of Fortified Wines.
The rapid socioeconomic changes and fast-paced urbanization, along with the continuous rise in living standards across countries are propelling the demand for fortified wines. In addition, with rising urbanization, individuals are becoming more aware of the importance of living a healthy lifestyle, which is influencing them to adopt organic products. For instance, according to the Organic Trade Association (OTA), a membership-based business association devoted to organic agriculture and products in North America, organic wine sales in the United States surpass US$ 373 million in 2020, a 17.6% increase from 8.7% in 2019. Furthermore, the growing influence of social media in developed countries is influencing the lifestyles of younger generations, encouraging them to spend more on high-end products, including wines.
- The Presence of High Sugar and Calorie Content in Fortified Wines May Stifle the Market Growth of Fortified Wines.
Fortified Wine is mainly high in calories compared with regular wine, increasing the risk of obesity. Furthermore, fortified wine contains even more sugar as many varieties are made by adding spirits to the wine during the fermentation process before the sugars are converted into alcohol. Additionally, sugar consumption has been linked with a number of health problems, including diabetes, obesity, liver problems, and heart disease. For instance, according to the US Department of Agriculture (USDA), a U.S. federal agency, sweet dessert wines, such as port wines contain nearly 7 grams of sugar per 3-ounce (88-ml) serving.
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
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Notable Key Players Mentioned in the Report: -
E & 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.
F.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 Information on the Research Report, Click on the Below Link: -
Global Fortified Wine Market Analysis
Contact Us: –
Ken Research
+91-9015378249
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