Press release
Fortified Wine Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033 | Barsol Pisco, Lombardo S.p.A., Contratto S.r.l., Gancia S.p.A., Vinhos Barbeito
Fortified Wine Market
As per the report, 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 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%.
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The Impact Of Growing Global Population On The Demand For Fortified Wine
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.
Fortified Wine Companies Focus On New Product Development To Gain Competitive Edge
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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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.
Contents of the report:
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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