The global fortified wine market is projected to reach $27.35 billion by 2028

With about 45% of the world fortified wine market in 2021, Europe is the region that will contribute the most. The market in this region is expected to be driven by increased wine consumption in countries such as Germany, France, Italy, Spain and Portugal. Additionally, the market is expected to develop during the anticipated period due to the increasing demand for flavored wines. Additionally, the fortified wine market in Asia-Pacific is expected to develop the fastest at a CAGR of 13.1% from 2022 to 2028. Demand in the region is fueled by the major consumer bases for alcohol products in China, India, and Japan. The region is expected to grow due to people’s growing disposable income and growing awareness of the health benefits of enjoying fortified wine.

New Delhi, August 29, 2022 (GLOBE NEWSWIRE) — Global fortified wine market is thriving due to the health benefits and premiumization of wine products along with technological developments and improvements in production and taste innovations that are strengthening the market.

A recent study by the strategy consulting and market research company BlueWeave Consultingrevealed that the global fortified wines market was worth US$12.73 billion in 2021. The market is expected to grow at a CAGR of 11.6% and generate approximately $27.35 billion in revenue by the end of 2028. The Global fortified wine market is booming due to the premiumization of wineries and their multiple health benefits. In addition, the market growth is expected to be accelerated in the coming years by the technological development in production and flavor innovations. The demand for alcoholic beverages for various special occasions is increasing, which helps the business to thrive. Consumption of the product is seen as a social acknowledgment that will fuel the expansion of the industry over the projection period. In addition, drinking fortified wine has several positive health effects. These are the main growth drivers of the market. However, the market is expected to hamper growth in the projected period due to rising wine taxes in some countries and strict government rules and regulations.

Increasing spending by wine brands on product marketing

The increased investment by well-known companies in product marketing and sales promotion to improve customer awareness is expected to contribute significantly to the industry growth in the coming years. Various countries, especially outside of Europe, have distorted opinions about fortified wines, and their taste is seen as undesirable and unsuitable. Increased promotional efforts to improve knowledge of the benefits of fortified wine and make fortified wine an indispensable part of social events and fine dining are expected to support market growth. As a result, the expanding educational marketing of fortified wine is expected to fuel the growth of the fortified wine business.

Increasing demand for premiumization products and the development of new flavors

Premiumization promotes the expansion of the fortified wine sector, as high-quality fortified wines have a good and promising effect on customer perception. As the middle-class population grows, premiumization can be seen in a variety of settings. By creating a sense of status around fortified wine, premiumization stimulates its consumption. Given the positive and enthusiastic consumer perception of premium fortified wines, premiumization is expected to fuel the rise of the market. This will most likely boost the fortified market shortly. During the forecast period, all these factors will impel the growth of the global fortified wines market (2022-2028).

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Challenge: fortified wines contain a lot of sugar and calories

Wine naturally contains more sugar than most alcoholic beverages because it is made from grapes. Many fortified wines have even more sugar because spirits are added to the wine during the fermentation process before the sugar is converted to alcohol. Some types are sweetened after fermentation, greatly increasing the sugar content. Port wines, which are sweet dessert wines, contain about 7 grams of sugar per 88 ml cup. Sugar consumption has been linked to several diseases such as diabetes, obesity, liver problems and heart disease. According to the 2015-2020 Dietary Guidelines for Americans, added sugars should account for no more than 10% of daily calories, or about 50 grams per person.

Segmental coverage

Global fortified wine market – By distribution channel

Based on distribution channel, the global fortified wine market is segmented into pubs, bars and restaurants, internet retail, liquor stores and supermarkets. Among these, the liquor store segment holds the largest market share. The market is driven by the increasing number of liquor stores around the world. Numerous manufacturers make their products available offline, which promotes the expansion of the segment. Additionally, category expansion is expected to be driven by retailers’ easy access to a variety of products. Liquor stores are expected to continue to dominate globally during the predicted period due to better distribution channel networks. The e-commerce segment in the fortified wine market is forecast to grow the fastest at a CAGR of 13.1% between 2022 and 2028. Due to the widespread use of the Internet, customers’ interest in online shopping has increased significantly in recent years. Selling alcoholic beverages on the websites of various manufacturers and e-commerce platforms will increase the market demand.

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Impact of COVID-19 on global fortified wine market

The lockdown caused by the COVID-19 pandemic has hampered the manufacture of fortified wine by impeding transportation and momentarily halting the supply of raw materials. But in the coming years, increased health awareness and promotion of fortified wine consumption amid the COVID-19 pandemic could lead to significant market growth. The fortified wine market has been negatively impacted by the COVID-19 pandemic. All businesses have been shut down because of the lockdown, impacting productivity. Around the world almost all bars, restaurants, pubs and liquor stores were closed, affecting the volume and frequency of wine sales. The government did not list alcohol-containing products as essential.

competitive landscape

The leading market players in the global fortified wines market are E. & J. Gallo Winery, Constellation Brands Inc, Treasury Wine Estates, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Liberty Wines Limited, Precept Wine LLC, Michelle Wine Estate, Backsberg, Sogevinus Fine Wines SL, Taylor’s Port, Albina & Hanna and other prominent players. The global fortified wine market is highly fragmented with the presence of several production companies in the country. The market leaders maintain their supremacy by investing in research and development, incorporating cutting-edge technology into their wares, and releasing improved items for customers. Various tactics are used, including strategic alliances, agreements, mergers and partnerships.

Don’t miss the business opportunity in the global Fortified Wine market. Connect with our analysts to gain critical insights and fuel your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends and statistics of the global Fortified Wine market. It also highlights the factors driving overall market size forecasts. The report promises to provide latest technology trends in the global fortified wine market and industry insights to help decision makers make informed strategic decisions. In addition, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

The latest development

• in April 2021, Anheuser-Busch InBev, one of the biggest players in the market, announced that it will manufacture and distribute products for the large company The Wine Group in the United States. Under this novel arrangement, the former would produce MD/20/20 Spiked Punch, the Wine Group’s fortified wine brand. The company would package and distribute the brand.

scope of the report

By product

• port wine

• vermouth

• sherry

• Other

By distribution channel

• Pub

• Bars & Restaurants

• internet retail

• liquor stores

• supermarkets

By region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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