Fortified Wine Industry By Types, Gross Ratio, Driven Factors, Regional Outlook, Trend, Forecast
Market Overview
Increasing sale of fortified wine is driven by changing
consumers’ preference in alcoholic beverages. Increasing production of premium
wines and new products is likely to drive the market for various fortified wine
varieties as well as increase its sale in the wine market. Technology
advancements in developed regions have led to the innovation in flavors leading
to the production of fortified wines with flavors of infused herbs and spices.
High focus on research and development of the alcoholic beverage industries has
influenced the positive growth rate of the market. On the other hand, the
population of consumers participating in campaigns and spreading awareness
against alcohol consumption is one of the big challenges faced by this market.
The consumption of fortified wine is found to be high in Europe and is
evaluated to increase at a positive growth rate in various countries of North
America and Asia Pacific region over the forecast period.
Competitive Analysis-
The Major Key Players in Fortified Wine Market are
- 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.)
- Gancia
(Italy)
Fortified wine manufacturers across various regions follow
the strategy of improving their existing product line by adding innovations to
their business expansion, which, in turn, increase the demand for fortified
wine is across various countries. In Europe, France is among the dominating
countries holding a significant share of the fortified wine market analysis and
exports the product to different other countries, which include the U.K., the
U.S., Germany, China, Belgium, and others.
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Market Forecast
Globally, the fortified wine industry is estimated to
escalate at a higher growth rate than any other alcohol variety based on the
antioxidant content imparting anti-ageing properties. High consumption of
fortified wine is backed up by its property to lower cholesterol level in the
body when consumed in right quantity. The rising demand for low-calorie
alcoholic beverages in the market is supporting its sale on a global level.
Rapid urbanization has also supported in fueling up the market share of
fortified wine all around the globe.
All these factors contribute to the calculated CAGR of 5.3%
of Fortified Wine market during 2017-2023.
Downstream Analysis
Consumption of sherry is growing at a significant rate based
on its formulation and high popularity majorly in European countries. However,
the sale of port wine varieties is evaluated to be growing rapidly as consumers
are more inclined towards sweet wine varieties. The high alcohol content in dry
wine makes it popular amongst the consumers of Europe, while, the medium and
sweet varieties of wine are more popular in Asia Pacific and North America.
Due to easy availability of desired fortified wine variety
and convenient shopping experience, consumers are seen to prefer store-based
distribution channel over the non-store based ones. This has resulted in
increased market share of store-based channels in the fortified wine market.
Regional Analysis
The global fortified
wine industry is segmented into North America, Europe, Asia Pacific, and
rest of the world (ROW). Europe holds a major market share followed by North
America. The high demand for fortified wine as a popular alcoholic drink from
the developed countries of these regions is contributing to the positive growth
of fortified wine market analysis. The U.S., the U.K., China, Germany, and
Canada are the major importers of fortified wine. Europe is found to be the
major exporter of fortified wine and exports to major countries of North
America and Asia Pacific.
Market Segmentation-
Global fortified wine market by types is segmented by
Fortified Wine-Type, Taste, Distribution Channel and Region
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