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Global Fortified Wine Market To Be Driven By The Increasing Brand Consciousness In The Forecast Period Of 2020-2025

The new report by Expert Market Research titled, ‘Global Fortified Wine Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global fortified wine market, assessing the market based on its segments like nature, types, body, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2015-2025)

• Forecast CAGR (2020-2025): 4%

The rapid economic growth of developing countries, especially in the Asia Pacific, along with the large population in the region is expected to drive the growth of the fortified wine industry. This is attributed to the increased acceptance of alcoholic drinks, as well as the expansion of retail outlets and online penetration of retail in countries like India and China in this region.

Consumption of fortified wine as an end-of-meal drink is a common practice and is a strong source of revenue for players in the industry. The purchase of the product as a gift or as an ingredient in certain cuisines is popular in regions such as North America and Europe and is expected to continue to drive the consumption in these regions.

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Industry Definition and Major Segments

Fortified wine consists of wine with the addition of a distilled spirit. The spirit, typically brandy, is added either during or after the process of fermentation of wine to increase the alcohol content of the mixture while providing unique flavour and aroma characteristics. The addition of alcohol can also prevent spoilage of wine.

The global fortified wine market can be segmented based on nature as:

• Dry Wine
• Sweet Wine

The various types available include:

• Port
• Sherry
• Marsala
• Madeira
• Vermouth
• Others

The market can be classified on the basis of body as:

• Light Bodied
• Medium Bodied
• Full Bodied

Based on distribution channel, the industry can be categorised into:

• Online
• Offline

The regional markets for construction include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

A key trend vital to the growth of the industry is the increase in brand consciousness among consumers, particularly in developing countries. In certain regions outside Europe, fortified wines face low sales due to negative brand image or product misinformation regarding sherry and other such beverages. Even in North America, replacing traditional alcoholic beverages as end-of-meal drinks is heavily dependent on an increase in brand and product consciousness in the region.

The use of port and sherry in cuisine is becoming increasingly common in Latin America, which is expected to increase the sales in the region. In the Middle East, the growth of the fortified wine industry is expected to be promoted indirectly via increased tourism and consumption of niche alcohol varieties.

Key Market Players

The major players in the market are Mazuran’s Vineyards Limited, Curatolo Arini, Taylor’s Port, Albina & Hanna, and Sogevinus Fine Wines SL, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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