Fortified Wine Market Demand, Industry Trends, Business Opportunities, And Forecast 2028
Fortified wine is a wine that has been enriched with additional alcohol during the fermentation process. The additional alcohol is typically brandy, and it is added to the wine to increase its alcohol content and improve its flavor. Fortified wines are generally classified into four main types: port, sherry, vermouth, and Madeira. The fortified wine market has been growing steadily over the years due to the increasing popularity of these wines.
Fortified wine, also known as dessert wine,
has been gaining popularity in recent years due to its rich and complex
flavors. It is made by adding brandy or other spirits to wine, which increases
its alcohol content and prolongs its shelf life. The fortified wine market is
expected to grow at a steady rate in the coming years, driven by the rising
demand for premium and high-quality beverages.
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GROWING
DEMAND FOR PREMIUM WINES
Fortified wine is considered a premium
product due to its unique taste and high alcohol content. As consumers become
more discerning, they are willing to pay a premium for high-quality beverages.
Fortified wines are often served as after-dinner drinks or used in cooking,
making them a versatile addition to any liquor cabinet. The growing demand for
premium wines is expected to drive the growth of the fortified wine market in
the coming years.
INCREASING
AWARENESS OF HEALTH BENEFITS
Fortified wines are rich in antioxidants,
which are known to have numerous health benefits, including reducing the risk
of heart disease and cancer. As consumers become more health-conscious, they
are looking for beverages that offer health benefits along with great taste.
This is driving the demand for fortified wines as a healthier alternative to
other alcoholic beverages.
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GROWING
POPULARITY IN EMERGING MARKETS
Fortified wine is becoming increasingly
popular in emerging markets such as Asia and Latin America. These regions have
seen a rise in disposable income and an increasing number of consumers who are
willing to pay a premium for high-quality products. The growing popularity of
fortified wine in these regions is expected to drive the growth of the global
fortified wine market in the coming years.
INNOVATIONS
IN FORTIFIED WINE PRODUCTION
The fortified wine market is seeing
innovations in production techniques and flavors. Winemakers are experimenting
with different grape varieties, aging methods, and spirit blends to create
unique and complex flavors. This has led to a wider variety of fortified wines
on the market, appealing to a broader range of consumers.
The fortified wine market is expected to
continue its growth trajectory in the coming years, driven by the rising demand
for premium and high-quality beverages, increasing awareness of health
benefits, growing popularity in emerging markets, and innovations in
production. Winemakers and producers need to stay attuned to changing consumer
preferences and innovate to stay ahead of the competition.
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MARKET KEY PLAYERS
·
The Wine Group
·
Bacardi Limited
·
Davide Campari-Milano S.p.A
·
Anchor Brewing Company
·
Constellation Brands, Inc.
·
Treasury Wine Estates
·
Trinchero Family Estates
·
E. & J. Gallo Winery
·
Symington Family Estates
·
Sogrape Vinhos, S.A.
·
Michelle Wine Estate
·
Taylor's Port
·
Liberty Wines Limited
·
Precept Wine, LLC
·
Deutsch Family Wine &
Spirits
·
Sogevinus Fine Wines SL
·
Precept Wine, LLC
RECENT
DEVELOPMENT:
June 2021: E. & J. Gallo Winery had
announced that the company would build a new production facility and
distribution center with USD 423 billion investment to support its long-term
innovation plans and future business growth.
September 2020: Riboli Family Wines had
announced the launch of Highlands 41, its newest estate-based brand within the
Riboli Estates Group division.
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