What is the Historic and Forecasted Market Size for the Global Fortified Wine Market?
Globally, the fortified wine market size has grown considerably in recent years. The market will rise from $20.1 billion in 2024 to $21.87 billion in 2025 marking a compound annual growth rate (CAGR) of 8.8%. This significant growth during the historic period can be attributed to an array of factors such as the traditional demand for fortified wines in culinary applications, the cultural significance and historical consumption patterns, the globalization and exportation of fortified wine brands, evolving consumer preferences for wine varieties and flavors, the versatility of fortified wines in mixology and cocktail making, and the recognition of fortified wines as favorable choices for desserts and aperitifs.
The growth prospects remain promising in the next few years as the fortified wine market size is expected to witness a rapid escalation to $32.53 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. This forecasted growth can be attributed to rising consumer interest in unique and artisanal wine styles, the expansion of fortified wine pairing and tasting experiences, research and development in fortified wine varietal and blend making, demand for fortified wines in culinary tourism and experiential dining, growing interest in fortified wine cocktails and mixology, and the emerging markets and consumer awareness pertaining to the health benefits of fortified wine. Major future trends include heritage and vintage fortified wines, fortified wine cocktails and mixology, aging and barrel maturation techniques, wine and food pairing experiences, and single varietal fortified wines.
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What Are the Key Market Drivers for the Fortified Wine Industry?
The fortified wine market growth is expected to be propelled by the expanding global population. Population refers to the total number of people or inhabitants in a country or region. The growing population is responsible for the increase in demand for agriculture and related products, including wine, which has significantly driven the fortified wine market. For instance, according to the United Nations report in 2022, the world’s population is expected to reach around 8.5 billion in 2030, and 9.7 billion in the year 2050. Therefore, it can be concluded that the growing global population is a vital driver for the burgeoning fortified wine.
How is the Global Fortified Wine Market Segmented?
The major market segments for fortified wine are as follows.
1) By Product: Port Wine, Vermouth, Sherry, Other Products
2) By Distribution Channel: Online, Offline
3) By End Users Or Applications: Super markets and Hyper markets, On Trade, Specialist Retailers, Retail Stores
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Which Are The Major Companies Operating in the Fortified Wine Market?
Significant players 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.
What are the Emerging Trends in the Fortified Wine Market?
Key industry players are developing advanced solutions to cater to the evolving consumer tastes and preferences for unique wine experiences. For instance, Belcondie, a UK-based alcoholic beverages provider, launched King William Fortified Wine in September 2022. King William Fortified Wine, typically classified as a sherry, is known for its rich flavor and higher alcohol content due to the addition of distilled spirits, and is often enjoyed as a dessert wine or as a cooking ingredient.
Which Region is Set to Dominate the Fortified Wine Market?
North America will be the largest region in the fortified wine market in 2024. However, Asia-Pacific is expected to register the fastest growth during the forecast period. The fortified wine market report covers geographies including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Fortified Wine Market Report 2025 Offer?
The definition of the fortified wine market as per this report signifies wine that gets fortified by the addition of a distilled spirit, predominantly a grape spirit such as brandy or cognac. The distilled spirit can be added to the wine during or after fermentation. Irrespective of the addition time, the use of the distilled spirit adds a unique facet to usual wines. The Fortified Wine Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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