Global Fortified Wine Market: A Journey of Growth

Fortified Wine Market Report 2023

Fortified Wine Global Market Report 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The market size fortified wine market is expected to grow to $30.07 billion in 2027 at a CAGR of 9.8%.”
— The Business Research Company

LONDON, GREATER LONDON, UK, November 24, 2023 / -- The global fortified wine market has experienced significant expansion, surging from $18.81 billion in 2022 to $20.67 billion in 2023, boasting a commendable Compound Annual Growth Rate (CAGR) of 9.9%. Projections indicate a sustained upward trajectory, with the market size anticipated to reach $30.07 billion by 2027, driven by a promising CAGR of 9.8%.

Propellers of Growth: Population Dynamics
The anticipated growth of the fortified wine market is intricately linked to the increasing populations worldwide. The surge in population contributes to a heightened demand for agriculture and related goods, including wine, wheat, and corn. According to a United Nations report in 2022, the world's population is expected to reach around 8.5 billion by 2030 and 9.7 billion by 2050. This global demographic shift is a significant driver behind the expanding fortified wine market.

Explore comprehensive insights into the global fortified wine market with a detailed sample report:

Key Players: Navigating the Vineyard
Major players in the fortified wine market, including Liberty Wines Limited, Taylor's Port, Vinbros, and others, play a pivotal role in shaping the industry landscape. These key players are at the forefront of product innovation, strengthening their market positions. Noteworthy is the example of Taylor’s, a Portugal-based beverage company, which introduced Chip Dry & Tonic in May 2021. This pre-mixed 25cl variant, RTD white port, and tonic, packed in a can, exemplifies the ongoing trend of product innovation in the fortified wine sector.

In March 2021, Accolade Wines, an Australia-based wine-making company, made headlines by acquiring Rolf Binder Wines for an undisclosed amount. This strategic move aims to diversify and expand Accolade Wines' expertise by adding premium fortified wines to its product portfolio.

Market Dynamics: Regional Landscape
North America is poised to be the largest region in the fortified wine market in 2022, while Asia-Pacific emerges as the fastest-growing region in the forecast period. The comprehensive report delves into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation: Navigating the Variety
The global fortified wine market is segmented based on:
1) By Product: Port Wine, Vermouth, Sherry, Other Products

2) By Distribution Channel: Online, Offline

3) By End Users/Applications: Supermarkets and Hypermarkets, On Trade, Specialist Retailers, Retail Stores

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Fortified Wine Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Fortified Wine Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on fortified wine market size, fortified wine market drivers and trends, fortified wine market major players, competitors' revenues, market positioning, and market growth across geographies. The fortified wine market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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