Global fortified wine market has witnessed an impressive growth over the last few years.
The growth of the fortified wine is anticipated to be driven by various factors. Rising population of alcohol consumers majorly in the developing economies is one of the significant factors for the rising growth of fortified wine during the forecast period. Increasing widely acceptance of fortified wine is the nutritive & healthful properties. One of the major drivers of the global fortified wine is the strong marketing & promotional strategies adopted by the key players.
Strong promotional activities by the major players has resulted in the high sales of fortified wine in the developed economies. Also, increasing disposable income of the consumers has led the demand of fortified wine both in the developed & developing economies. Premiumization is one the major trends which is gaining traction in the global fortified wine market. Due to the increasing per capita disposable income of the consumes coupled with the rising awareness of health benefits of fortified wine, the sales of fortified wine is expected to witness continue growth during the forecast period.
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Latest Industry Updates:
June 2016 Accolade Wines has launched a new fortified wine
Jan 2018 White Castle launched first fortified wine in Wales
October 2016 McWilliam’s Wines has launched the fortified wine in various flavors such as coffee, strawberry and spice
The fortified wine market is competitive with major market players operating at the global level. The key industry players in the fortified wine market have adopted the various strategies. New product launch is the one of the important strategies adopted by the key players. New product launch aids to increase the overall customer base of the company which will help to increase the overall revenue of the company. Apart from that, key manufacturers are emphasizing in various promotional events in supermarkets & hypermarkets to attract the customers and to create strong awareness regarding their new product launch in the market. Apart from that, key manufacturers are emphasizing in the packaging of the products to attract the new customers and to enhance the brand value of the company.
The key players profiled in fortified wine report are Bacardi Limited (U.K.), The Wine Group (U.S.), Davide Campari-Milano S.p.A. (Italy), E & J Gallo Winery (U.S.), Atsby Vermouth (U.S.), Anchor Brewing Company (U.S.), and Gancia (Italy) among many others.
Global fortified wine market has been divided into type, distribution channel, packaging material and Region
On the Basis of type: Red, and White
On the Basis of Distribution Channel: Food retail (Supermarkets & Hypermarkets, specialty retailers, and others), and Food service
On the Basis of packaging material: Glass, Metal, PET, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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The global fortified wine market is segmented by region which comprises of North America, Europe, Asia Pacific and Rest of the World. Among all the regions, Europe is accounting for significant market share in global fortified wine market and it is expected to retain its dominance throughout the forecast period of 2017-2023. The growth of the fortified wine in Europe region is anticipated to be driven by the various factors. One of the significant factors rising growth of fortified wine is the increasing product innovation by the fortified wine manufacturers. Apart from that, manufacturers have adopted advanced methods to improve the quality of fortified wine. Presence of key manufacturers of fortified wine in European region is expected to propel the sales of fortified wine in the Europe region. Among the European countries, Germany is accounting for approximately 30% of market proportion in the Europe fortified wine market. However, Asia Pacific region is likely to observe a substantial growth rate in the global fortified wine market during the forecast period of 2017-2023 due to the shifting consumer preference towards the healthy food habits.
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