An overview of the “Global Fortified Wine Market” the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
Global Fortified Wine Market is valued at approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2030.
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Fortified wines are blends of grapes from different vintages, and the majority of fortified wines are classified similarly. The actual ageing of fortified wine is determined by the fortified wine itself, and it has been discovered that the cheaper the fortified wine is, the shorter the time it takes to age in oak. The growing trend of alcohol consumption in developing countries is driving the fortified wine market. Seasonal variations in grape production have an impact on the growth of the fortified wine market. As a result, the price of grapes has an impact on the price of fortified wines. In developing countries, macroeconomic factors such as increased disposable income are also boosting the growth of the fortified wine market.
Growing demand for product innovation in terms of new flavour varieties is driving the fortified wine market. New and exotic flavours of fortified wine have emerged as a result of rapidly changing tastes and preferences. Indeed, following the legalisation of marijuana in many states across the United States, many fortified wines infused with marijuana are being released. For instance, E&J Gallo, a California wine company, announced in January 2021 that it had sold two key fortified wine brands to Precept Wine, a Seattle-based firm. Precept had purchased the Fairbanks and Sheffield Cellars fortified wine brands. In the near future, this development is expected to strengthen Precept’s growing wine portfolio and expand its overall footprint.
Similarly, Anheuser-Busch InBev, one of the market’s biggest players, announced in April 2021 that it would produce and distribute products for The Wine Group in the United States. The former would produce MD/20/20 Spiked Punch, the Wine Group’s fortified wine brand, under this novel agreement. The brand would be packaged and distributed by the company. However, government regulations in a few regions, rising taxes, climatic changes, and the availability of low-cost substitutes are limiting global growth for fortified wine. Furthermore, excessive consumption of fortified wine increases the risk of heart disease, liver disease, and a specific type of cancer.
The key regions considered for the global Fortified Wine market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Fortified wine is mostly consumed as a post-meal drink on special occasions in North America. Due to a lack of awareness about fortified wines, consumers are still drinking traditional alcoholic end-of-meal beverages. The fortified wine market in this region is expected to grow as awareness of the product grows. The fortified wine market in Asia Pacific is still developing, and factors such as increased consumer awareness and the expansion of retail outlets could help the market grow. In the Middle East, rising tourism and frequent consumption of niche alcoholic beverages are expected to help the fortified wine market grow indirectly.
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Major market players included in this report are:
- Liberty Wines Limited
- Backsberg
- Sogevinus Fine Wines SL (Kopke)
- Taylor’s Port
- Albina & Hanna
- Contratto
- Vinbros
- Mazuran’s Vineyards Limited
- Lombardo winery
- Sogevinus Fine Wines SL Kopke
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
Port wine
Vermouth
Sherry
Others
By Distribution Channel:
On-Trade
Off-Tade
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of content
Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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