Fortified Wine Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 14.20 Billion |
| Market Size (2029) | USD 16.10 Billion |
| CAGR (2024 - 2029) | 2.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fortified Wine Market Analysis
The Fortified Wine Market size is estimated at USD 14.20 billion in 2024, and is expected to reach USD 16.10 billion by 2029, growing at a CAGR of 2.68% during the forecast period (2024-2029).
The fortified wine market is especially driven by the growing trend of alcohol consumption in developing countries. Seasonal fluctuations, primarily tied to grape production, significantly influence the market's growth trajectory. Many countries in the world produce fine wines of premium quality and fortification. According to the International Organisation of Vine and Wine data 2023, France was the leading European producer of wine with an output of approximately 48 million hectoliters.
Moreover, the demand for fortified wine is being propelled by a significant trend toward premiumization. Rising disposable incomes and an expanding workforce steer consumers toward premium fortified wines and shunning local labels, particularly in developing nations. Moreover, a surge in demand for fortified wines with diverse flavors and alcohol profiles is fueled by younger demographics drawn to unique tastes and variety. This shift in consumer preference has spurred market innovations, prompting producers to craft novel blends that meld different wines, flavors, and alcohol content. For instance, in January 2022, Maison Mirabeau launched its first vermouth in the United Kingdom, Rose Vermouth. Rosé Vermouth is an 'aromatic' apéritif that celebrates botanicals from southern France. The 17% ABV expression was made using the surplus stock of Mirabeau's 2019 Vintage Prét-à-Porter cans of rosé.
With evolving consumer preferences, wine producers swiftly roll out a spectrum of new and exotic flavors in fortified wines, aligning with these shifting tastes. This strategic move aims to set their offerings apart and carve out fresh market territories, a trend poised to persist in the coming years.
Fortified Wine Market Trends
Port Wines Gained Popularity
- Port wine's popularity is increasing due to a global trend among young consumers toward premiumization. Port wines generally have an alcohol by volume (ABV) content ranging from 19% to 22%, whereas most table wines have an ABV of around 12% to 15%. This higher alcohol content sets port wines apart and contributes to their distinctively rich and sweet flavor profile. Beyond alcohol content, the quality of port wines is deeply influenced by cultivation practices, such as vineyard management, pruning, and harvesting methods. As consumer preferences pivot towards premiumization and a quest for unique, high-quality offerings, the global market for port wines is propelled forward.
- Also, health-conscious consumers are increasingly turning to port wine. With a heightened focus on moderation and responsible alcohol consumption, these consumers are drawn to port wine's rich antioxidant content, notably resveratrol, predominantly found in grape skins. Antioxidants, renowned for their health benefits, are pivotal in reducing inflammation and shielding against various diseases. Moreover, moderate consumption of wines, including port, has been linked to enhanced cardiovascular health. This is primarily due to the presence of polyphenols, which can aid in improving blood vessel function and lower "bad" cholesterol (LDL) levels. According to the Centers for Disease Control and Prevention reported that heart disease was the leading cause of death in the United States in 2021, accounting for 20% of all fatalities. Consequently, as concerns over heart health mount, consumers are increasingly drawn to port wine for its associated health advantages.
North America Holds the Largest Share
- Fortified wines are some of the fastest-growing varieties of alcoholic beverages in the US market, as they offer customers additional unique options and choices. The emergence of single-spirit bars has also prompted the growth of fortified wines in the country. The popularity of antique fortified wines, such as sherry and port, is particularly evident in such bars. Companies have earned brand recognition through aggressive branding campaigns and social media promotions. Moreover, cocktails often use fortified wines due to their unique flavors and higher alcohol content. They can add depth and complexity to a cocktail, sweetness, and body. Some popular fortified cocktail wines include vermouth, sherry, and port. In addition, fortified wines are being used more frequently in the foodservice industry. Chefs and mixologists are discovering new and creative ways to incorporate fortified wines into their dishes and drinks, using them to add flavor and balance to a wide range of dishes and cocktails.
- As a result, market players are taking note of the growing consumer demand for fortified wines and are launching new products to meet this demand. This trend is expected to continue as consumers become more interested in unique and sophisticated flavor profiles and as the food service industry continues experimenting with new ways to incorporate fortified wines into their menus. For instance, in September 2022, Glenfiddich launched Glenfiddich 12-Year-Old Sherry Cask Finish, a vibrant single malt matured in traditional American and European Oak casks before finishing in rare Amontillado Sherry casks for a distinctively rich and refined taste.
Fortified Wine Industry Overview
The fortified wine market is highly competitive due to many global and domestic companies operating in various countries. Innovation and new product development are crucial strategies for fortified wine market players to stay competitive and meet the evolving demands of consumers. Some of the key players operating in the fortified wine market include Liberty Wines Limited, Backsberg, Taylor's Port, Grupo Sogevinus Fine Wines, and Vinbros & Company.
Mergers and acquisitions are common in the fortified wine market as companies seek to expand their product portfolios and increase their market share. By acquiring other companies or brands, companies can gain access to new distribution channels and markets and leverage the acquired company's expertise and resources. Overall, the fortified wine market is highly competitive and dynamic, with companies constantly seeking to innovate and differentiate their products to meet consumers' changing tastes and demands.
Fortified Wine Market Leaders
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Liberty Wines Limited
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Backsberg
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Taylor's Port
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Grupo Sogevinus Fine Wines
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Vinbros & Company
*Disclaimer: Major Players sorted in no particular order
Fortified Wine Market News
- February 2024: Sokol Blosser Winery, a pioneering family-owned and operated winery, launched its first collection of aperitif wines. The two new wines are available in white and red. The Sokol Blosser Aperitif Wines (first edition) are priced at USD 25 per 375 ml bottle. The white is 16% ABV, and the red is 16.5% ABV. Both are available at the Sokol Blosser Tasting Room and online.
- June 2022: The Italian Vermouth brand Cuceilo expanded its portfolio with the launch of Dry Vermouth di Torino, crafted to capture the essence of 'Golden Hour' and Italian Aperitivo Culture. With crisp notes of fresh Sicilian citrus, complemented by a light yet herbal bitterness, the brand's Dry Vermouth di Torino has been designed to highlight the most iconic of aperitif cocktails, the Martini.
- January 2021: E&J Gallo Winery acquired five wineries and over 30 wine brands from Constellation Brands Inc. The acquired brands include Arbor Mist, Black Box, Clos du Bois, Estancia, Franciscan, Hogue, Manischewitz, Mark West, Ravenswood, Taylor, Vendange, and Wild Horse.
Fortified Wine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Consumer Inclination Toward Premium Alcoholic Drink
4.1.2 Innovative Marketing and Packaging Strategies
4.2 Market Restraints
4.2.1 Growing Popularity for Functional Beverages
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Port Wine
5.1.2 Vermouth
5.1.3 Sherry
5.1.4 Other Product Types
5.2 Distribution Channel
5.2.1 On-trade
5.2.2 Off-trade
5.2.2.1 Supermarkets/Hypermarkets
5.2.2.2 Liquor Stores
5.2.2.3 Other Distribution Channels
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Liberty Wines Limited
6.3.2 Backsberg
6.3.3 Taylor's Port
6.3.4 Albina & Hanna
6.3.5 Contratto
6.3.6 Vinbros & Company
6.3.7 Mazuran's Vineyards Limited
6.3.8 Vitivinicola Lombardo VAT
6.3.9 Grupo Sogevinus Fine Wines
6.3.10 Cuceilo Vermouth De Torino Italia
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Fortified Wine Industry Segmentation
Fortified wine is a type of wine that contains distilled spirits and higher alcohol content than regular wine.
The market for fortified wine is segmented based on product type, distribution, and geography. Based on product type, the market is segmented into port wine, vermouth, sherry, and other product types. By distribution channel, the market is segmented into on-trade and off-trade. Off-trade is sug-segmented into supermarkets and hypermarkets, specialty stores, and other channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the report offers market sizes and forecasts in value (USD).
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| Port Wine | |
| Vermouth | |
| Sherry | |
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| On-trade | |||||
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Fortified Wine Market Research FAQs
How big is the Fortified Wine Market?
The Fortified Wine Market size is expected to reach USD 14.20 billion in 2024 and grow at a CAGR of 2.68% to reach USD 16.10 billion by 2029.
What is the current Fortified Wine Market size?
In 2024, the Fortified Wine Market size is expected to reach USD 14.20 billion.
Who are the key players in Fortified Wine Market?
Liberty Wines Limited, Backsberg, Taylor's Port, Grupo Sogevinus Fine Wines and Vinbros & Company are the major companies operating in the Fortified Wine Market.
Which is the fastest growing region in Fortified Wine Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fortified Wine Market?
In 2024, the North America accounts for the largest market share in Fortified Wine Market.
What years does this Fortified Wine Market cover, and what was the market size in 2023?
In 2023, the Fortified Wine Market size was estimated at USD 13.82 billion. The report covers the Fortified Wine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fortified Wine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fortified Wine Industry Report
Statistics for the 2024 Fortified Wine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fortified Wine analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
