The fortified wine market is projected to grow at a CAGR of 4.71% to reach US$25.299 billion by 2026, from US$18.331 billion in 2019. Fortified wine refers to a wine to which a distilled spirit such as brandy has been added to enhance the alcohol content and in addition to its higher alcohol content, its unique aroma and flavour differentiate it from its regular varieties. There is a wide variety of fortified wines available in the market such as vermouth, marsala, Madeira, sherry, and port wine. The health benefits such as richness in antioxidants support heart health, and protection against chronic diseases have amplified the consumption of fortified wine when consumed in a moderate amount. It refers to a viscous wine-based sipping treat that can be consumed after or before dinner. The use of fortification wad to preserve the wine from turning into vinegar during long sea voyages. The alcohol content in fortified wine is about 17 to 20% by volume owing to the addition of brandy. The market for fortified wine is increasing due to the rise in the demand for novel flavours. The ever-changing consumer preferences and the rapidly evolving taste have led to the constant emergence of exotic and new flavours of fortified wine. With the legalization of marijuana in some states of the United States and some parts of the globe, many varieties of fortified wine are being introduced with the infusion of marijuana. The premiumization of fortified wine products is also expected to fuel the growth of the fortified wine market during the forecast period owing to the promising and positive response of consumers regarding the premium fortified wine. The emergence of the aspirational middle-class segment is further accounting for the premiumization associated with fortified wine in developing regions around the globe.
The growing trend of alcohol consumption in various parts of the globe is further boosting the market growth of the fortified wine market during the forecast period. The seasonal variations owing to the production of grapes and the prices associated with it highly affect the growth of the fortified wine market. Also, the increasing disposable income and the ever-growing population around the globe have fueled the market growth of fortified wine during the forecast period. The increasing research and development in bringing new and innovative variants of fortified wine, the spreading of awareness regarding the consumption of fortified wine and its health benefits, and the increasing demand for premiumization products are some of the growth opportunities in the fortified wine market during the forecast period.
One of the major reasons for the growth of the fortified wine market is the rising consumption of wine and alcoholic beverages owing to stress and stress-related issues. The rising stress throughout the globe has led to the adoption and consumption of alcoholic beverages by a majority of the population which will further boost the market growth of the fortified wine market during the forecast period. Stress has become a major concern, worldwide, according to World Health Organisation. Wine has become helpful to play part in overcoming stress.
A major restraint in the growth of the fortified wine market is the stringent government regulation coupled with the availability of cheap alternatives of wine in the market. The government regulations of the consumption of wine and other alcoholic beverages have been strict in recent years owing to the concerns regarding excessive drinking problems on human health such as liver disease, heart diseases, and forms of cancer accounting for the strict regulations on the consumption of alcoholic beverages which will hamper the growth of fortified wine market during the forecast period. Also, the availability of cheap alternatives to fortified wine is furthermore limiting the growth of the fortified wine market. The rise in import taxes of fortified wine and the rising climatic concern and changes will further restrain the market growth of the fortified wine market during the forecast period.
Major firms and corporations have been making significant developments in the market.
The market leaders for the global fortified wine market are Liberty Wines Limited, Sogevinus Fine Wines SL (Kopke), Taylor's Port, Albina & Hanna, Vinbros, Mazuran's Vineyards Limited, Lombardo winery, Curatolo Arini, Davide Campari-Milano S.p.A., and EMILIO HIDALGO SA.
|Market size value in 2019||US$18.331 billion|
|Market size value in 2026||US$25.299 billion|
|Growth Rate||CAGR of 4.71% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Liberty Wines Limited, Sogevinus Fine Wines SL (Kopke), Taylor's Port, Albina & Hanna, Vinbros, Mazuran's Vineyards Limited, Lombardo winery, Curatolo Arini, Davide Campari-Milano S.p.A., EMILIO HIDALGO SA|
|Customization scope||Free report customization with purchase|
The fortified wine market has been analyzed through the following segments:
Frequently Asked Questions (FAQs)
Q1. What will be the fortified wine market size by 2026?
A1. The fortified wine market is projected to reach a market size of US$25.299 billion by 2026.
Q2. What is the size of the global fortified wine market?
A2. Fortified Wine Market was valued at US$18.331 billion in 2019.
Q3. What are the growth prospects for the fortified wine market?
A3. The global fortified wine market is projected to grow at a CAGR of 4.71% during the forecast period.
Q4. Who are the major players in the fortified wine market report?
A4. The market leaders for the fortified wine market are Liberty Wines Limited, Sogevinus Fine Wines SL (Kopke), Taylor's Port, Albina & Hanna, Vinbros, Mazuran's Vineyards Limited, among others.
Q5. What factors are anticipated to drive the fortified wine market growth?
A5. One of the major reasons for the growth of the fortified wine market is the rising consumption of wine and alcoholic beverages owing to stress and stress-related issues.
Liberty Wines Limited
Sogevinus Fine Wines SL (Kopke)
Mazuran's Vineyards Limited
Davide Campari-Milano S.p.A.
EMILIO HIDALGO SA
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