Fortified Wine Market: Survey, Trends, Outlook, Overview and Business Strategies Forecast 2023

Market Overview:

Global fortified wine market is projected to grow at the CAGR of 5.3%.  Consumption of fortified wine by the young consumers to cope up with the social dynamics is a major driver of this market. Changing lifestyle and adoption of the modern trends have influenced the high sale of fortified wine in the wine industries. The increase in disposable income has impacted fortified wine market positively. The rising demands for wines prepared with unique blends and formulations are found to further influence growth of the fortified wine across the globe, positively.

The shift in consumers' alcohol consumption preferences has influenced the positive growth of fortified wine share in the market. Additionally, higher demand from the female population of urban countries has increased the share of fortified wine in wine industries. Key players are following strategies of merger and acquisition of small players due to a high demand of the product. France and Germany are amongst the leading players exporting fortified wine to various countries of other regions.

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Major Key Players:

This report includes a study of strategies such as mergers and acquisitions, product launches by the major fortified wine market players. It further includes product portfolios, developments of leading major players, which includes

Bacardi Limited (U.K.)
Davide Campari-Milano S.p.A. (Italy)
The Wine Group (U.S.)
E & J Gallo Winery (U.S.)
Anchor Brewing Company (U.S.)
Atsby Vermouth (U.S.) and
Gancia (Italy)
The global fortified wine market is segmented on the basis of fortified wine type, taste, distribution channel, and region. Based on the fortified wine-type, vermouth wine is found to be escalating at a high CAGR. Based on the fortified wine taste, dry wine holds a lion’s share. Amongst the various distribution channels, sale through specialty-stores (store-based) is calculated to hold a major share in the fortified wine market.

Key Findings:

Vermouth wine amongst the fortified wine type is anticipated grow at a higher growth rate

Top exporters of fortified wine include Italy, Spain, France, Chile, and the U.S.

Segments:

Fortified wine is segmented on the basis of fortified wine-type, which comprises of port wine, sherry, vermouth, and others. Sherry wine holds a major share followed by port wine.

Fortified wine is segmented on the basis of taste which comprises of dry, medium, and sweet. The dry fortified wine holds the lion’s share in the global wine market.

Fortified wine is segmented on the basis of the distribution channel, which comprises of store-based and non-store based distribution channels. Sale of fortified wine is higher through store based channels based on convenience purchase of the product.

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Regional Analysis:

The global fortified wine market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe has the major market share followed by North America. Based on innovations, fortification, and production of crafted wine varieties, the fortified wine has gained popularity in various other regions.  Availability of a wide range of fortified wines is attracting the population of mass consumers towards the product line thereby increasing the sale of the product. The U.S., the U.K., China, Germany, and Canada are considered the major importers of fortified wine.

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This release was published on openPR.