Fortified Wine Market is valued at USD 13.32 Billion in 2021 and is expected to reach USD 17.97 Billion by 2028 with a CAGR of 5.12% over the forecast period.
The Detailed Market intelligence report on the Fortified Wine Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Fortified Wine Market place for the forecast 2022– 2028.
Fortified wine when it comes to being an alcoholic drink has been accepted widely and have been consumed because of their healthful and nutritive properties which are healthful. This is propelling the demand od the drink and hence in turn the growth of the global fortified wine market.
The fortified wines are blends of the grapes and the vintages. Majority of these fortified wines have been similar in the classification and have either been dry fortified wine or sweet wine. The aging of the fortified wine actually depends on the wine itself. The cheaper they are, the lesser is the time which has been taken for aging. Fortified wine is a special wine which is fortified with the presence of the additional levels alcohol which is being added to base wines in the process of the fermentation for bringing the average level of alcohol content to a level of seventeen percent or so. The traditional wines have been associated with the area where the soil and climate condition has not been in favor of the production of the grapes which are suitable for the higher quality light wine. The tradition of adding the alcohol has been derived from the grapes who must have been partially or wholly fermented by the yeasts’ action for the production of beverages of the different styles of character as well as the alcoholic strength.
The segmentation of the global fortified wine market has been in the different kinds and the channels of distribution. In terms of type, it can be segmented in to Madeira, Marsala, Sherry and Port in the globe. The production of the port, Madeira and sherry have been subject to the complex rules and also regulations but have been most preferred in this market. The market of fortified wine in the world has been segmented further into the distribution channels namely online and offline. Region wise the segmentation has been Middle East, Europe, North America, Latin America and Asia Pacific. Europe has been the market leader in the consumption and Asia Pacific is a rising markets.
Major participants in the global fortified wine market are,
The global fortified wine market has been driven by the exceptional strategies of market and the activities in promotion. The rise in the demand of the fortified wine in the population of the world can be attributed to it being considered as something that gives social recognition. This is a major driver in the trigger of a rate of growth of the fortified wine in the world in the period of forecast. The factors however like the rise in taxes and the change in climate has been restraining the growth in the market. Also, there is an emergence in the substitutes which are inexpensive and have been restraining the growth in the global fortified wine market. Furthermore, the rise of investments have been continuing the research and the developing for developing of innovative products in the fortified wine in adding to the emergence of a lot of economies in the generating of opportunities.
The regulations of the European Union are defining the liquor wines which consist of an acquired content of alcohol in the range of fifteen to twenty percent. The fortified wines from Europe have been known for the contributions which are long standing in wine’s world. Also, the different types of the food in Europe such as desserts, tarts, cheese and nuts have been found for being paired with the fortified wines and therefore this has been boosting the rate of growth of the wine in this region. The benefits of health associated with the fortified wine consumption is resulting to an increase in the wines.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 13.32 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 17.97 Billion
|Tables, Charts & Figures:
|Fortified Wine Companies
|Baksberg, Vinbros, Vintners Limited,, Into wine, others.
|By Product Type, By Distribution Channel
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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