The global fortified wine market is expected to grow at a significant CAGR during the forecast period. Rising disposable income globally and growing demand for high-quality premium alcoholic beverages are driving the growth of the global fortified wine market. Owing to growing disposable income, the companies are targeting emerging and potential customers. Fortified wine is the kind of wine in which distilled spirit such as brandy, is added and has a strong flavor and aroma. As per the World Banks data, the per capita disposable income globally stood at $9,484 in 2019, up 1.28% year-on-year in real terms. Moreover, rising alcoholic consumption across countries and rising preference for beverages with various natural flavors are driving the development of fortified wine. Manufacturers are employing natural flavors to enhance the taste and aroma of their alcoholic beverages since millennials are largely buying novel alcoholic beverage products.
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Consumers have a wide range of fortified wine options with unique natural flavors, allowing them to choose the product that best satisfies them. There is an emerging trend in the market for celebrity-owned brands, which is sure to draw a big number of customers. The majority of consumers choose to consume premium alcoholic beverages associated with their favourite celebrity. As a result, additional fresh launches of celebrity-owned premium alcohol brands are planned soon, which will propel the growth of the market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Fortified Wine Market by Segment
By Type
- Port Wine
- Sherry
- Vermouth
- Madeira
- Others
By Distribution Channel
- Online
- Offline
o Specialty Stores
o Supermarkets and Hypermarkets
o Liquor Stores
o Others
Global Fortified Wine Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
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