Global Fortified Wine Market is Projected to Reach Nearly US$ 2,000 Mn Revenue by the end of 2022

Posted on 2018-05-07 by Mark Hub in Food & Beverage // 0 Comments

Rockville, US, 2018-May-07 — /EPR Network/ — A freshly compiled business intelligent report, titled “Fortified Wine Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” has been publicized to the vast archive of Fact.MR online repository. This _ page study delivers all the vital details and information required to know about “Fortified Wine” market current as well as future prospects. The analysts of the study have gone through extensive research methodologies in order to generate data and information that reflects the latest market undercurrents and industry trends. For a deeper understanding of the market, a sub-category level analysis has been elaborated, by which readers and investors of the report will able to know that where the market stands to gain.

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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.

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.

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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.

Competition Tracking

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, S.A., F.LLI GANCIA & C. S.p.A, and Sogrape SGPS, SA.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Food & Beverages Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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