Fortified Wine Market to increase by USD 5.2 billion between 2022 to 2027 | The rising consumption rate of wine is notably driving the fortified wine market.- Technavio

NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The fortified wine market size is expected to grow by USD 5.2 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.31% during the forecast period. The rising consumption rate of wine is notably driving the fortified wine market. However, factors such as Negative perception associated with forfeited wines may impede market growth. The market is segmented by product type (sherry, port, vermouth, and others), Distribution Channel (Off-trade and On-trade) and Geography (Europe, North America, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format 

Key Segment Analysis
The sherry segment will be significant during the forecast period. Its unique characteristics and high demand among wine enthusiasts worldwide cause sherry to hold a significant position in the global fortified wine market. Additionally, the unique flavor profile and food compatibility of sherry have made it a favorite among wine enthusiasts around the world. Also, its use as a cocktail ingredient has been renewed due to the growing demand for craft cocktails. Hence, such factors drive the growth of the sherry segment of the fortified wine market during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the Free PDF Sample Report.

Geographical Market Analysis 

• Europe will contribute 49% to the growth of the global market during the forecast period. Given its rich history and diverse wine-making regions, Europe has established itself as a key player in this industry. Furthermore, countries such as France, Italy, and Spain have been producing wine for centuries. Also, their expertise in winemaking is unrivaled. Such a expertise is reflected in the quality of the wines produced and has earned them a reputation for excellence. Hence, factors boost the growth of the fortified wine market in the European market during the forecast period.

Company Insights 
The fortified wine market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Anchor Brewers and Distillers LLC, Bacardi Ltd., Campari Group, Contratto srl, DOWS Port, E. and J. Gallo Winery, Emilio Lustau S.A., Fonseca Port Wine, Fratelli Gancia and C. SpA, Mazurans Vineyards Ltd., Precept Wine, Ramos Pinto, Rhys and Rylee LLC, SOGEVINUS FINE WINES SA, Sogrape SGPS SA, Symington Family Estates Vinhos S.A., Taylors Port, The Great Wine Co., Vinbros and Co., Vinimark Trading Pty Ltd.

• View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

The wine and spirits market size is projected to increase by USD 195.96 billion and the market size is estimated to grow at a CAGR of 3.32% between 2022 and 2027.

The organic wine market size is estimated to grow at a CAGR of 8.57% between 2022 and 2027. The market size is forecast to increase by USD 5,019.97 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product Type

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio