Worldwide Fortified Wine Market Share 2020, Size, Regional Trend, Future Growth and Forecast to 2024

Market Analysis

Fortified wine is referred to the wine-type that is prepared by mixing with additional alcohol, generally distilled spirit, such as brandy. This process is carried out to enhance the flavor as well as the alcohol content of the wine, which is 17-20%. Most of the times, fortified wines are also blended with herbs and spices to add uniqueness to the wine flavors. Fortified wines are available in dry, medium and sweet form. The rich antioxidant content of the wine adds to the health benefits obtained from it. Fortified wines are aged in wood casks, which further enhance the organoleptic properties of the wine.

Fortified Wine Market is estimated to grow at the CAGR of 5.3%.  Consumption of fortified wine by the young consumers to cope up with the social dynamics is a major driver of this market. Changing lifestyle and adoption of the modern trends have influenced the high sale of fortified wine in the wine industries. The increase in disposable income has impacted fortified wine market positively. The rising demands for wines prepared with unique blends and formulations are found to further influence growth of the fortified wine across the globe, positively.

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Major Key Players

The key players profiled in the Global Fortified Wine Market Davide Campari-Milano S.p.A. (Italy), The Wine Group (U.S.), Bacardi Limited (U.K.), E & J Gallo Winery (U.S.), Anchor Brewing Company (U.S.), ATSBY Vermouth (U.S.), GANCIA (Italy)

The global Fortified Wine Market is segmented on the basis of fortified wine type, taste, distribution channel, and region.

Key Findings

Top exporters of fortified wine include Italy, Spain, France, Chile, and the U.S.

Segments

Fortified wine is segmented on the basis of fortified wine-type, which comprises of port wine, sherry, vermouth, and others. Sherry wine holds a major share followed by port wine.

Regional Analysis

Fortified Wine Market is segmented into Europe, Asia Pacific, North America and rest of the world (ROW). Europe has the major market share followed by North America. Based on innovations, fortification, and production of crafted wine varieties, the fortified wine has gained popularity in various other regions.

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