Overview and Scope
The fortified wine is used to make cocktails as well as great cooking wines. Fortified wine refers to wine that has been fortified by the addition of a distilled spirit, particularly a grape spirit such as brandy or cognac. The grape spirit can be added to the wine during or after fermentation. The addition of the distilled spirit makes the fortified wine unique as compared to other types.
Sizing and Forecast
The fortified wine market size has grown strongly in recent years. It will grow from $20.29 billion in 2023 to $22.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to traditional demand for fortified wines in culinary and culinary applications, cultural significance and historical consumption of fortified wines, export and globalization of fortified wine brands, evolving consumer preferences for wine varieties and flavors, versatility of fortified wines in mixology and cocktails, recognition of fortified wines as dessert and aperitif choices, innovation and experimentation in fortified wine production techniques.
The fortified wine market size is expected to see rapid growth in the next few years. It will grow to $32.58 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to consumer interest in unique and artisanal wine styles, expansion of fortified wine pairing and tasting experiences, research and development in fortified wine varietals and blends, demand for fortified wines in culinary tourism and experiential dining, growing interest in fortified wine cocktails and mixology, emerging markets and consumer awareness of fortified wine health benefits. Major trends in the forecast period include heritage and vintage fortified wines, fortified wine cocktails and mixology, aging and barrel maturation techniques, wine and food pairing experiences, single varietal fortified wines.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/fortified-wine-global-market-report
Segmentation & Regional Insights
The fortified wine market covered in this report is segmented –
1) By Product: Port Wine, Vermouth, Sherry, Other Products
2) By Distribution Channel: Online, Offline
3) By End Users/Applications: Supermarkets and Hypermarkets, On Trade, Specialist Retailers, Retail Stores
Top Major Players:
Liberty Wines Limited
Taylor Fladgate & Yeatman Vinhos S.A
Vinbros & company LLC.
Lombardo S.p.A.
Curatolo Arini S.r.l
North America will be the largest region in the fortified wine market in 2023.
North America will be the largest region in the fortified wine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fortified wine market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6956&type=smp
Major Driver Impacting Market Growth
Increasing populations around the globe are expected to propel the growth of the fortified wine market going forward. Population refers to the total number of people or inhabitants in a country or region. The growing population is responsible for the increase in the demand for agriculture and related goods, including wine, wheat, and corn. For instance, according to the United Nations report in 2022, a US-based intergovernmental organization to maintain international peace and security, the world’s population is expected to reach around 8.5 billion in 2030 and 9.7 billion in the year 2050. Therefore, the increasing population around the globe is driving the growth of the fortified wine market.
Key Industry Players
Major companies operating in the fortified wine market include Liberty Wines Limited, Taylor Fladgate & Yeatman Vinhos S.A., Vinbros & company LLC., Lombardo S.p.A., Curatolo Arini S.r.l., Davide Campari-Milano S.p.A., Emilio Hidalgo S.A., Mazuran’s Vineyards Limited, Sogrape Vinhos S.A., Bacardi Limited, E. & J. Gallo Winery, Indage Vintners Limited, Contratto S.r.l., Albina & Hanna LLC, Backsberg Estate Cellars, Vinhos Barbeito, Bodegas Barbadillo S.L., Barsol Pisco, Blandy’s Wine Lodge, Campanario de Azaba S.L., Joseph Cartron SAS, The Whisky Exchange, Sogevinus Fine Wines, The Wine Group Inc., Atsby Vermouth, Gancia S.p.A., Symington Family Estates Vinhos S.A.
The fortified wine market report table of contents includes:
1. Executive Summary
2. Fortified Wine Market Characteristics
3. Fortified Wine Market Trends And Strategies
4. Fortified Wine Market – Macro Economic Scenario
5. Global Fortified Wine Market Size and Growth
…
31. Global Fortified Wine Market Competitive Benchmarking
32. Global Fortified Wine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fortified Wine Market
34.Fortified Wine Market Future Outlook and Potential Analysis
35. Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
