Report Code: A06616 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Fortified Wine Market
Request Now !The niche market for wine, which includes fortified wine, sparkling wine, and others, is witnessing a growth in the global market. Fortified wine is blended with various vintages and grapes. It is distilled with spirits like brandy to enhance its flavor and strength. Due to high sweetness level, and tendency to be consumed after meals it is often referred to as 'Dessert Wine'. This product has two main product variants, named dry wine and sweet wine, production of which depends upon time addition of brandy. The cheaper the wine, the lesser time it has taken to distill with brandy. Also, fortified wine is widely consumed due to its nutritive properties.
The growing trend of alcohol consumption all over the globe drives the market for fortified wines. Its demand is usually affected by the seasonal variation, owing to the production of the grapes. Likewise, the price of grapes also affects the prices of fortified wines. Along with this, the changes in lifestyle of people, increase in personal disposable income, consumer awareness, product diversity, and high unique selling proposition also triggers the growth of the global fortified wine market.Â
However, stringent government regulations in a few regions, rise in taxes, climatic changes, and availability of cheap substitutes restrict the growth for fortified wine globally. Along with this, high consumption of fortified wine leads to various health risks such as heart diseases, liver diseases, and a certain form of cancer. In addition to this, several activists and organizations are spreading awareness among people about the adverse effects of alcohol consumption, which can impede the demand for fortified wines globally.Â
Spreading awareness about fortifies wines, an increase in research and development to bring innovative variants of fortified wines, and increasing demand for premiumization products are few opportunities for the fortified wine market. Along with this tapping, the online market for the sales of fortified wine can propel the demand for fortified wines. Implementing various sales strategies like giving discounts is another way to propel the growth of the global fortified wine market.Â
Global Fortified Wine Market Trends are as follows:
Premiumization fuels the growth of the fortified wine market because premium fortified wines have a positive and promising impact on consumer perception. Premiumization is also apparent in many regions due to the rise in middle-class segment.Â
After marijuana has been legalized in many states, and innovations leading to new and exotic flavors of fortified wine, these wines are now being launched with infused marijuana. This new marijuana-infused fortified wine is expected to influence the demand for the product.Â
Key Benefits of the Report:
Questions Answered in the Fortified Wine Market Research Report:
Fortified Wine Market Report Highlights
Aspects | Details |
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By Type |
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By Body Type |
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By Sweetness Level |
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By Distribution Channel |
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By Region |
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Key Market Players | The Wine Group, Symington Family Estates, González Byass, E&J Gallo Winery, Bacardi Limited, Anchor Brewing Company, Imbue, Bodegas Lustau, McWilliam’s Wines Group Ltd, Atsby Vermouth, Sogrape Vinhos, S.A., Gancia, Davide Campari-Milano S.p.A |
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