Fortified wines are prepared by blending wines with a distilled liquor, for example – brandy. Fortified wines, often confused with spirits, were originally utilized as a preservation method.
Wines are usually fortified for enhancing their strength and flavor. These wines are often referred to “dessert wines”, owing to their high sweetness levels, coupled with their tendency of being consumed after meals.
Product premiumization is considered to be a major factor driving demand for fortified wine around the world. Majority of the consumers believe that premium products comprise high-quality ingredients. There has been an uptake in demand for new flavors in fortified wine over the past few years.
Leading players in the global fortified wine market are focusing on launching new fortified wine flavors, in a bid to cater the rapidly changing preferences of customers. For example – McWilliam’s launched three new flavored fortified wines in 2016 viz. McWilliam’s Espresso Press, McWilliam’s Spice Royale, and McWilliam’s Strawberry Delight.
Fortified wines infused with marijuana are gaining prevalence among consumers, especially in the U.S. where the product is legal. Alcoholic beverage industries have been focusing on research & development, which in turn has resulted into introduction of various innovative flavored fortified wines.
However, a large number of people are actively participating in campaigns, in order to spread awareness about adverse health effects of alcohol consumption. In addition, excessive consumption of these wines have resulted into numerous negative health effects.
Higher consumption of fortified wines by consumers have led to a rise in risks of diseases such as liver disease, heart disease, and certain cancers. These factor is expected to impede demand for fortified wines on a large scale in the upcoming years.
The global market for fortified wine is projected to exhibit a sluggish expansion throughout the forecast period 2017 to 2022, according to a new report published by Fact.MR. The report estimates revenues from the global fortified wine market to reach nearly US$ 2,000 Mn in revenues by 2022-end.
Europe to Remain Most Lucrative Region for Fortified Wine Market
Europe will continue to be the most lucrative region for the fortified wine market, in terms of revenues. However, sales of fortified wine in Asia-Pacific excluding Japan (APEJ) are estimated to register a comparatively faster expansion than all the regional segments through 2022.
Marsala is anticipated to retain its position as the top-selling product in the global fortified wine market. Over one-fourth share of the market is expected to be accounted by revenues from sales of Marsala across the globe during 2017 to 2022.
In addition, Madeira will continue to be the second most lucrative fortified wine over the forecast period, in terms of revenues.
Modern Trade will Continue to be Largest Sales Channel for Fortified Wine
Accounting for over one-third revenue share of the global market, modern trade will continue to be the largest sales channel for fortified wine worldwide. However, sales of fortified wine in e-commerce sales channel is expected to register the highest CAGR through 2022.
Fortified wine for light-bodied individuals is expected to hold the largest share of the market in terms of revenues, with sales projected to expand at 3% CAGR through 2022.
Based on sweetness-level, although sales of semi-sweet fortified wine are expected to be sluggish through 2022, revenues from semi-sweet fortified wine will account for the largest market share over the forecast period.
Key players listed in Fact.MR’s report on the global fortified wine market include
- Bacardi Limited
- E. & J. Gallo Winery
- Davide Campari-Milano S.p.A.
- The Wine Group LLC
- Sogevinus Fine Wines
- F.LLI GANCIA & C. S.p.A
- Sogrape SGPS
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(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Product premiumization will be the prime factor fuelling growth of the global market for fortified wine in the upcoming years. Leading market players are concentrating on development of new flavored fortified wines, to cater continuously changing consumer preferences.
Marijuana-infused wines are gaining higher traction, particularly in the United States where such products are legal. This report, published by Fact.MR, provides in-depth analysis of the global fortified wine market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global fortified wine market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Fortified wine manufacturers, stakeholders, and suppliers in the global food & beverage sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to fortified wine.
The report commences with a brief information of the global fortified wine market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global fortified wine market.
The next section offers an overview of the global fortified wine market. This comprises an introduction to the market, along with a standard definition of the product – fortified wine.
In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global fortified wine market, the report provides updates about market opportunities, which can benefit leading manufacturers of fortified wine.
With continuous evolution of the food & beverage sector, keeping a record of latest developments and trends is fundamental for fortified wine manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering wide scope of the global fortified wine market, and to provide in-depth insights, Fact.MR’s report offers segment-wise analysis & forecast. The fortified wine market has been segmented based on body type, sales channel, product type, sweetness level, and region.
This segmentation analysis rendered is comprehensive, along with the provision of detailed country-wise forecast on all parameters.
The report’s last section comprises of the global fortified wine market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global fortified wine market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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