The fortified wine market is projected to grow at a CAGR of 4.88% to reach US$20.448 billion by 2023, from US$15.360 billion in 2017. Fortified wine is delicious viscous wine base sipping treat which can be relished before or after dinner. The common types include port, madeira, sherry, vermouth, and marsala. Fortified wine means strengthened and has an elevated level of alcohol in comparison to other wines. The reason behind their high alcohol content is because of being mixed with a distilled spirit such as brandy. Originally the use of fortification was to preserve wine as the barrels of wine during long sea voyages were prone to turn to vinegar. The average alcohol content of the fortified wine is about 17-20 percent by volume.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the fortified wine value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the fortified wine market.
Major industry players profiled as part of the report are MADEIRA WINE COMPANY, S.A., Niepoort, Baglio Curatolo Arini 1875 srl, Bodegas Hidalgo La Gitana and González Byass among others.
The fortified wine market has been analyzed through following segments:
Middle East and Africa