Fortified Wine Market Challenges, Key Vendors, Drivers and Trends by Forecast 2023
Posted: Feb 11, 2019
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 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 growth rate in various countries of North America and Asia Pacific region over the forecast period.
Global Key Players and Competition Analysis
The key players profiled in the global fortified wine market: 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)
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Global Fortified Wine Market is segmented by Fortified Wine-Type, Taste, Distribution Channel and Region
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 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.
Consumption of sherry is growing at a significant rate based on its formulation and high popularity majorly in European countries. However, the sale of port wine varieties is evaluated to be growing rapidly as consumers are more inclined towards sweet wine varieties. The high alcohol content in dry wine makes it popular amongst the consumers of Europe, while, the medium and sweet varieties of wine are more popular in Asia Pacific and North America.
Browse the market data and information spread across 110 pages with 25 data tables and 16 figures of the report "Global Fortified Wine Market Research Report- Forecast to 2023" in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/fortified-wine-market-3942
July 31, 2017, Market Research Future published a Half Cooked Research Report on Global Fortified Wine Market which is estimated to grow more than 5.3% during the period 2017-2023
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At Market Research Future (Mrfr), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr), & Consulting Services.