The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Fortified Wine Global Market Report 2024 offers crucial insights into the fortified wine market help businesses analyse and build stronger strategies.

The fortified wine market has witnessed robust growth, escalating from $20.29 billion in 2023 to an anticipated $22.21 billion in 2024, demonstrating a commendable compound annual growth rate (CAGR) of 9.5%. The roots of this flourishing market lie in the traditional demand for fortified wines, their cultural significance, and historical consumption, coupled with globalization and evolving consumer preferences for diverse wine varieties and flavors. Additionally, the versatility of fortified wines in mixology, recognition as dessert and aperitif choices, and ongoing innovation in production techniques contribute to this growth story.

Key Drivers of Market Expansion:

Health-Conscious Consumers Propel Market Growth

As the world embraces a more health-conscious lifestyle, the fortified wine market is poised for substantial growth. This shift in consumer behavior towards healthier choices in diet and lifestyle aligns well with the attributes of fortified wines, offering a balance between indulgence and health-conscious choices. The surge in popularity of specific diets or eating patterns, such as clean eating and mindful eating, reflects an increased awareness among consumers about their dietary choices, and fortified wines fit seamlessly into this evolving landscape.

• Growing emphasis on health-conscious choices
• Fortified wines as an option for health-conscious consumers
• Rise in popularity of specific diets and eating patterns

Anticipated Growth and Market Dynamics:

Rapid Growth on the Horizon

The fortified wine market is expected to witness rapid growth in the coming years, with an estimated valuation of $32.58 billion by 2028, reflecting a compelling CAGR of 10.0%. The factors propelling this anticipated surge include heightened consumer interest in unique and artisanal wine styles, an expanding array of fortified wine pairing and tasting experiences, ongoing research and development in fortified wine varietals and blends, and the growing demand for fortified wines in culinary tourism and experiential dining.

• Projected market growth to $32.58 billion by 2028
• Factors contributing to growth include consumer interest in unique wine styles
• Growing demand for fortified wines in culinary tourism and experiential dining

Key Trends Shaping the Future:

Innovations and Collaborations Take Center Stage

In the forecast period, key trends are expected to shape the fortified wine market, with a focus on heritage and vintage fortified wines, fortified wine cocktails and mixology, aging and barrel maturation techniques, and wine and food pairing experiences. These trends signify the industry’s commitment to innovation, offering consumers a diverse and enriching experience with fortified wines.

• Trends in heritage and vintage fortified wines
• Growing popularity of fortified wine cocktails and mixology
• Emphasis on aging and barrel maturation techniques
• Evolving trends in wine and food pairing experiences

Strategic Collaborations:

Acquisitions to Broaden Offerings

Strategic collaborations and acquisitions play a pivotal role in fortifying companies’ positions in the market. Notable examples include Taylor’s launching the innovative Chip Dry & Tonic, a ready-to-drink white port and tonic in a can. Additionally, Accolade Wines’ acquisition of Rolf Binder Wines aims to diversify and expand its wine expertise by incorporating premium fortified wines into its product portfolio.

• Taylor’s innovative launch of Chip Dry & Tonic
• Accolade Wines’ acquisition of Rolf Binder Wines for portfolio expansion

Market Segmentation: A Comprehensive Framework

The fortified wine market is intricately segmented based on product types such as Port Wine, Vermouth, Sherry, and others, distribution channels including online and offline, and end-users/applications encompassing supermarkets and hypermarkets, on-trade, specialist retailers, and retail stores.

Regional Dynamics:

North America Leads, Asia-Pacific Emerges Fast

As of 2023, North America claims the title of the largest region in the fortified wine market. Looking ahead, Asia-Pacific is poised to be the fastest-growing region in the forecast period, as the region increasingly engages with and embraces the diverse world of fortified wines.

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Read The Full Fortified Wine Market Report Here:
https://www.thebusinessresearchcompany.com/report/fortified-wine-global-market-report

The Fortified Wine Global Market Report 2024  provides a comprehensive outlook of the fortified wine market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fortified wine market forecast offers a thorough analysis on fortified wine market size, fortified wine market share, prominent players and their strategies.

The Table Of Content For The Fortified Wine Market Include:
1. Fortified Wine Market Executive Summary
2. Fortified Wine Market Segments
3. Fortified Wine Market Size And Fortified Wine Market Growth Rate
4. Key Fortified Wine Market Trends
5. Major Fortified Wine Market Drivers
……
25. Key Mergers And Acquisitions In The Fortified Wine Market
26. Top Fortified Wine Companies
27. Fortified Wine Market Opportunities And Strategies
28. Fortified Wine Market, Conclusions And Recommendations
29. Appendix

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