Global Fortified Wine Market is valued at approximately XX in 2021 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2022-2028. Fortified wines are blends of grapes from different vintages, and the majority of fortified wines are classified similarly. The actual ageing of fortified wine is determined by the fortified wine itself, and it has been discovered that the cheaper the fortified wine is, the shorter the time it takes to age in oak. The growing trend of alcohol consumption in developing countries is driving the fortified wine market. Seasonal variations in grape production have an impact on the growth of the fortified wine market. As a result, the price of grapes has an impact on the price of fortified wines. In developing countries, macroeconomic factors such as increased disposable income are also boosting the growth of the fortified wine market. Growing demand for product innovation in terms of new flavour varieties is driving the fortified wine market. New and exotic flavours of fortified wine have emerged as a result of rapidly changing tastes and preferences. Indeed, following the legalisation of marijuana in many states across the United States, many fortified wines infused with marijuana are being released. For instance, E&J Gallo, a California wine company, announced in January 2021 that it had sold two key fortified wine brands to Precept Wine, a Seattle-based firm. Precept had purchased the Fairbanks and Sheffield Cellars fortified wine brands. In the near future, this development is expected to strengthen Precept's growing wine portfolio and expand its overall footprint. Similarly, Anheuser-Busch InBev, one of the market's biggest players, announced in April 2021 that it would produce and distribute products for The Wine Group in the United States. The former would produce MD/20/20 Spiked Punch, the Wine Group's fortified wine brand, under this novel agreement. The brand would be packaged and distributed by the company. However, government regulations in a few regions, rising taxes, climatic changes, and the availability of low-cost substitutes are limiting global growth for fortified wine. Furthermore, excessive consumption of fortified wine increases the risk of heart disease, liver disease, and a specific type of cancer.

The key regions considered for the global Fortified Wine market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Fortified wine is mostly consumed as a post-meal drink on special occasions in North America. Due to a lack of awareness about fortified wines, consumers are still drinking traditional alcoholic end-of-meal beverages. The fortified wine market in this region is expected to grow as awareness of the product grows. The fortified wine market in Asia Pacific is still developing, and factors such as increased consumer awareness and the expansion of retail outlets could help the market grow. In the Middle East, rising tourism and frequent consumption of niche alcoholic beverages are expected to help the fortified wine market grow indirectly.

Major market players included in this report are:

Liberty Wines Limited

Backsberg

Sogevinus Fine Wines SL (Kopke)

Taylor's Port

Albina & Hanna

Contratto

Vinbros

Mazuran's Vineyards Limited

Lombardo winery

Sogevinus Fine Wines SL Kopke

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

Port wine

Vermouth

Sherry

Others

By Distribution Channel:

On-Trade

Off-Tade

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Fortified Wine Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors