(Food-Beverage-News.Com, February 20, 2018 ) Product premiumization will be the prime factor fuelling growth of the global market for fortified wine in the upcoming years. Leading market players are concentrating on development of new flavored fortified wines, to cater continuously changing consumer preferences. Marijuana-infused wines are gaining higher traction, particularly in the United States where such products are legal. This report, published by Fact.MR, provides in-depth analysis of the global fortified wine market for the forecast period 2017-2022, and offers key insights about future market direction.
However, a large number of people are actively participating in campaigns, in order to spread awareness about adverse health effects of alcohol consumption. In addition, excessive consumption of these wines have resulted into numerous negative health effects. Higher consumption of fortified wines by consumers have led to a rise in risks of diseases such as liver disease, heart disease, and certain cancers. These factor is expected to impede demand for fortified wines on a large scale in the upcoming years.
The global market for fortified wine is projected to exhibit a sluggish expansion throughout the forecast period 2017 to 2022, according to a new report published by Fact.MR. The report estimates revenues from the global fortified wine market to reach nearly US$ 2,000 Mn in revenues by 2022-end.
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.
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.
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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