The fortified wine global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fortified Wine Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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Scope Of Fortified Wine Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fortified Wine Market Overview
Market Drivers –
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.
Market Trends –
Product innovation is a key trend gaining popularity in the fortified wine market. Major companies operating in the fortified wine sector are focused on developing new product innovation solutions to strengthen their position. For instance, in May 2021, Taylor’s, a Portugal-based beverage company that produces fortified wine, launched Chip Dry & Tonic, which was claimed to be the first pre-mixed 25cl variant, RTD white port, and tonic, packed in a can. The new product is a ready-to-drink 5.5% abv Taylor’s Chip Dry and Tonic.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Fortified Wine Market Report Structure
3. Fortified Wine Market Trends And Strategies
4. Fortified Wine Market – Macro Economic Scenario
5. Fortified Wine Market Size And Growth
…..
27. Fortified Wine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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