Global Fortified Wine Market is expected to reach ~USD 20 Bn by 2028F: Ken Research
Global Fortified Wine Market By Geography
The Global Fortified Wine market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Europe accounted for the largest share of the Global Fortified Wine Market in 2022 and will remain dominant in the forecast period (2022-2028).
The growth is primarily attributed to the fact that Europe is the world’s leading producer of wine, with vermouth, the most prominent fortified wine, being produced primarily in Italy, followed by sherry wine in Spain and port wine in Portugal.
The increasing consumption of wine in countries like Germany, France, Italy, Spain, and Portugal is expected to drive the market in this region.
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Competition Scenario In Global Fortified Wine Market
The Global Fortified Wine Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players with their niche in adopting advanced technology, such as fermentation technology to improve the product taste, texture, and oenological potential of vineyards. Moreover, companies are competing on various parameters such as partnerships, new products offering, business models, marketing strategies, pricing, campaign, and more.
Regional players control about ~55% of the market, while country-niche players hold a share of ~35%. Some of the major players in the market include E.&J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Precept Wine, LLC, Backsberg, Grupo Sogevinus Fine Wines, Taylor’s Port, and among others.
What is the Expected Future Outlook for the Overall Global Fortified Wine Market Across the globe?
The Global Fortified Wine market was valued at USD ~billion in 2022 and is anticipated to reach USD ~20 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Fortified Wine market is driven by increasing alcohol socialization among consumers along with the increasing adoption of European culture. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Fortified Wine market is changing rapidly. For instance, In April 2021, Constellation Brands launched a dedicated business unit for fine wine and craft spirits which includes the following spirit brands: High West Whiskey, Casa Noble Tequila, Mi Combo, Copper & Kings, Nelson’s Green Brier Distillery, and the Real McCoy.
In January 2021, E&J Gallo announced that it had sold its two key fortified wine brands to Precept Wine, a US-based wine company.
The Global fortified Wines market is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factor contributing to the increasing consumption of premium alcoholic drinks/beverages, including fortified wine is the rising living standards across countries, along with the increased social engagements, and adoption of western culture. Though the market is highly competitive with around ~150 participants, few country-niche players control the dominant share and regional players also hold a significant share.
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Key Topics Covered in the Report
- Snapshot of the Global Fortified Wine Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Fortified Wine Market
- Historic Growth of the Overall Global Fortified Wine Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Fortified Wine Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Fortified Wine Market
- Future Market Forecast and Growth Rates of the Total Global Fortified Wine Market and by Segments
- Market Size of Product Type, Distribution Channel, and Body Type Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Fortified Wine Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- E. & J. Gallo Winery
- Constellation Brands, Inc.
- Treasury Wine Estates
- Trinchero Family Estates
- Deutsch Family Wine & Spirits
- The Wine Group
- Precept Wine, LLC
- Backsberg
- Sogevinus Fine Wines
- Taylor’s Port
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Notable Emerging Companies Mentioned in the Report
- Bacardi Limited
- McWilliam’s Wines
- Rhys & Rylee LLC
- Campari-Milano N.V.
- F.LLI Gancia & C. SpA Canelli
- Anchor Brewing
- Imbue Curls US.
- Emilio Lustau S.A.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Feedstock Suppliers (Wine Grapes)
- Supplier of Chemical Additives
- Wine Branding and Marketing Companies
- Wine Producing Companies
- Vineyard Management Companies
- National Wine Trade Federation
- Wine International Association (WIA)
- World Wine Trade Group
- Specialty Wine Retailers Association (SWRA)
- National Association of Wine Retailers
- Wine Trade Association
- American Association of Wine Economists
- American Wine Society
- Suppliers of Packaging Materials (Suppliers of Bottles, Corks)
- Food Regulatory Authorities
- Alcoholic Beverages Regulatory Authorities
- Government Ministries and Departments of Alcoholic Beverages
- Investment Banks and PE Firms Focused on Alcoholic Beverages Industry
- Potential Entrants into Alcoholic Beverages Industry
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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