Get more information on Fortified Wine Market - Request Sample Report
The Fortified Wine Market Size was valued at USD 16.97 billion in 2023 and is expected to reach USD 48.22 billion by 2032 and grow at a CAGR of 12.30% over the forecast period 2024-2032.
Wine's specialised market, which comprises sparkling wine, fortified wine, and other varieties, is expanding on a global scale. Different vintages and grapes are combined to make fortified wine. To increase its flavour and power, it is distilled with alcoholic beverages like brandy. It is frequently referred to as "Dessert Wine" due to its high sweetness level and propensity to be taken after meals. The production of these two primary product varieties, dry wine and sweet wine, depends on the amount of brandy added over the course of production. Wine has taken less time to distil with brandy the more affordable the wine. Due to its nutritional qualities, fortified wine is also commonly drunk.
DRIVERS
Growth of Production
Innovation Flavors Are Introduced
RESTRAINTS
The introduction of the pandemic has negatively impacted sales
OPPORTUNITIES
In these areas, the young population is expanding and their diets now include wine.
Increasing trends are anticipated.
CHALLENGES
For an extended period of time, the chain of eateries was inoperable.
Among the numerous demographic groups present in the major market regions, wine has been found to be one of the most palatable drinks. The increase in demand is being driven by a variety of market factors, including consumer preferences, product suitability, and product variety, among others. However, the industry has been growing steadily but slowly ever since the coronavirus epidemic was identified by the WHO as a global pandemic and a cause of fatalities. The projected era saw both a temporary and permanent lockdown implemented, and only domestic use of wine was allowed. Due to the implementation of lockdown, the manufacture and production of goods were also halted. Production and manufacturing slowed down throughout the unlock time. In Spain and other parts of Europe, the supply chain mechanism has been severely disrupted and the demand has been severely constrained.
During the projection period, the major players in the fortified wine market will concentrate on product variation and will promote goods that are affordable and within the range of consumer spending. During the period of expanding market activities, this is one of the key aspects that will contribute to rising demand and promise better possibilities.
By Product type
Market expansion is anticipated to be fueled by the growing usage of vermouth wine as an antiseptic and medication to treat colds and viral illnesses. Market expansion is anticipated during the forecast period due to the increased demand for dessert wine from European nations like the U.K., Germany, France, and Italy. The sherry market is anticipated to increase at the fastest rate. This market has grown as a result of sherry wine's rising acceptance as a warming supper beverage among western customers. The expansion of this market throughout the forecast period has been predicted by a number of health benefits of sherry wine, including lowering cholesterol, antioxidants, preventing hypothermia, and many more.
By Distribution Channel
In 2021, the fortified wine industry in the world was contributed to by liquor stores to the tune of more than 35%. The market is being driven by the growing number of liquor outlets around the world. The rise of the market is being fueled by a number of manufacturers offering their goods through offline channels. Additionally, convenient access to a variety of products through retailers is likely to fuel the segment's expansion. Due to improved distribution channel networks around the world, liquor stores are anticipated to maintain their dominance during the projection period.
Due to the increasing rate of internet use, the e-commerce industry has experienced profitable expansion in recent years. Alcoholic beverages are being sold by a number of producers on websites and on e-commerce platforms, which will increase consumer demand.
By Product type:
Port wine
Sherry
Vermouth
Others
By Distribution Channel:
Pub, Bars & Restaurants
Liquor Stores
Internet Retailing
Supermarkets
Others
The largest share of the world market for fortified wine comes from Europe. The market in this region is anticipated to be driven by the rising wine consumption in nations like France, Germany, Italy, Spain, and Portugal. Additionally, during the anticipated period, the market is expected to develop due to the rising demand for flavoured wine.
The market for fortified wine with the fastest growth is Asia Pacific. The demand in the region will be driven by the large alcoholic product consumer bases in China, India, and Japan. The region is expected to increase as a result of people's growing disposable income and growing awareness of the health benefits of drinking fortified wine.
Get Customized Report as per your Business Requirement - Request For Customized Report
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Major market players in fortified wine Market E. & J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Liberty Wines Limited, Precept Wine, LLC, Michelle Wine Estate, Backsberg, Sogevinus Fine Wines SL (Kopke), Taylor's Port, Albina & Hanna, and other players
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 16.97 Billion |
| Market Size by 2032 | US$ 48.22 Billion |
| CAGR | CAGR 12.30% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Product type (Port wine, Sherry, Vermouth, Others) • by Distribution Channel (Pub, Bars & Restaurants, Liquor Stores, Internet Retailing, Supermarkets, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | fortified wine Market E. & J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Liberty Wines Limited, Precept Wine, LLC, Michelle Wine Estate, Backsberg, Sogevinus Fine Wines SL (Kopke), Taylor's Port, Albina & Hanna, and others. |
| Key Drivers | •Growth of Production •Innovation Flavors Are Introduced |
| Market Opportunities | •In these areas, the young population is expanding and their diets now include wine. •Increasing trends are anticipated. |
Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.
Ans: The base year calculated in the Fortified Wine Market report is 2023.
Ans: Bacardi Limited, Anchor Brewing Company, Bodegas Lustau, Davide Campari-Milano S.p.A, Atsby Vermouth, E&J Gallo Winery, Imbue, McWilliam’s Wines Group Ltd, González Byass, Symington Family Estates
Ans: The introduction of the pandemic has negatively impacted sales and For an extended period of time, the chain of eateries was inoperable are the restrains/challenges faced by the Fortified Wine market.
Ans: Fortified Wine Market Size was valued at USD 16.97 billion in 2023, and is expected to reach USD 48.22 billion by 2032, and grow at a CAGR of 12.30% over the forecast period 2024-2032.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Fortified Wine Market Segmentation, By Product type
8.1 Port wine
8.2 Sherry
8.3 Vermouth
8.4 Others
9. Fortified Wine Market Segmentation, By Distribution Channel
9.1 Pub, Bars & Restaurants
9.2 Liquor Stores
9.3 Internet Retailing
9.4 Supermarkets
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Bacardi Limited
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Anchor Brewing Company
11.3 Bodegas Lustau
11.4 Davide Campari-Milano S.p.A
11.5 Atsby Vermouth
11.6 E&J Gallo Winery
11.7 Imbue
11.8 McWilliam’s Wines Group Ltd
11.9 González Byass
11.10 Symington Family Estates
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Precision Fermentation Ingredients Market size was USD 2 billion in 2022 and is expected to Reach USD 34.9 billion by 2030 and grow at a CAGR of 43 % over the forecast period of 2023-2030.
The Glucose Syrup Market size was valued at USD 3.53 Billion in 2023 and is expected to reach USD 4.99 Billion by 2032 and grow at a CAGR of 3.91% over the forecast period of 2024-2032.
The Digestive Health Products Market Size was esteemed at USD 47.60 billion in 2022 and is supposed to arrive at USD 89.69 billion by 2030 and develop at a CAGR of 7.95 % over the forecast period 2023-2030.
Non-Carbonated Soft Drinks Market Report Scope & Overview: Non-Carbonated Soft Drinks Mar
Healthy Snacks Market Size was valued at USD 86.32 billion in 2023 and is expected to reach USD 165.50 billion by 2032 and grow at a CAGR of 7.5% over the forecast period 2024-2032.
Processed & Frozen Vegetables Market Report Scope & Overview: Processed & Frozen Vegetables Market
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
