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Fortified Wine Market 2024-2033: Industry Size, Business Growth, Key Drivers And Major Players | Liberty Wines Limited, Taylor Fladgate & Yeatman Vinhos S.A., Vinbros & company LLC., Lombardo S.p.A., Curatolo Arini S.r.l
Fortified Wine Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Fortified Wine industry. This report on fortified wine market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market Players:
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
Market Drivers:
According to the Fortified Wine Market Report 2024 by The Business Research Company 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.
More information about the Global Fortified Wine Market Report -
https://www.thebusinessresearchcompany.com/report/fortified-wine-global-market-report
Market segments for template include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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