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.
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Competitive Landscape
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)
Market Segmentation
The global fortified wine market has been segmented based on type, distribution channel, and region. By type, the global fortified wine market has been classified into port, sherry, vermouth, and others By distribution channel, the global fortified wine market has been divided into store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, specialty stores, and others. The global fortified wine market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North America fortified wine market has further been segmented into the US, Canada, and Mexico. The Europe fortified wine market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The fortified wine market in Asia-Pacific has been segmented into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The fortified wine market in the rest of the world has been segmented into South America, the Middle East, and Africa.
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Regional Analysis
The global fortified wine market 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. 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.
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