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. Read More

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). Read More

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. Read More

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. Read More

Fortified Wine Market Size

Market Size of Fortified Wine Industry

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 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).

By Product Type
		Port Wine
		Vermouth
		Sherry
		Other Product Types

Distribution Channel

On-trade

Off-trade
	Supermarkets/Hypermarkets
	Liquor Stores
	Other Distribution Channels

By Geography

North America
	United States
	Canada
	Mexico
	Rest of North America

Europe
	Germany
	United Kingdom
	France
	Russia
	Spain
	Italy
	Rest of Europe

Asia-Pacific
	India
	China
	Japan
	Australia
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	United Arab Emirates
	South Africa
	Rest of Middle East and Africa

Need A Different Region Or Segment?

Customize Now

Fortified Wine Market Size Summary

The fortified wine market is experiencing significant growth, driven by increasing alcohol consumption in developing countries and a rising demand for premium products. This market expansion is influenced by seasonal variations in grape production, which in turn affects pricing. The market is also seeing innovations such as the infusion of cannabis into wines, particularly in North America, attracting younger consumers seeking novel alcoholic beverages. The trend of premiumization is prominent, with consumers opting for high-quality fortified wines, which are often associated with unique flavors and a sophisticated drinking experience. This shift is further supported by government policies in some regions that encourage the production and sale of fortified wines, as well as incentives for winemakers to explore new techniques and flavors.

In the United States, fortified wines are among the fastest-growing alcoholic beverages, with their unique flavors and higher alcohol content making them popular choices in cocktails and the food service industry. The emergence of single-spirit bars has boosted the popularity of antique fortified wines like sherry and port. Market players are responding to the growing consumer interest by launching new products and engaging in aggressive branding campaigns. The competitive landscape of the fortified wine market is dynamic, with companies focusing on innovation, mergers, and acquisitions to expand their portfolios and enhance market share. Key players in the industry are actively introducing new flavors and products to meet evolving consumer preferences, ensuring the market remains vibrant and competitive.

Explore More

Fortified Wine Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
  1. 1.1.1 Consumer Inclination Toward Premium Alcoholic Drink
  2. 1.1.2 Innovative Marketing and Packaging Strategies
2. 1.2 Market Restraints
  1. 1.2.1 Growing Popularity for Functional Beverages
3. 1.3 Porter's Five Force Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 By Product Type
  1. 2.1.1 Port Wine
  2. 2.1.2 Vermouth
  3. 2.1.3 Sherry
  4. 2.1.4 Other Product Types
2. 2.2 Distribution Channel
  1. 2.2.1 On-trade
  2. 2.2.2 Off-trade
    1. 2.2.2.1 Supermarkets/Hypermarkets
    2. 2.2.2.2 Liquor Stores
    3. 2.2.2.3 Other Distribution Channels
3. 2.3 By Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
    4. 2.3.1.4 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Russia
    5. 2.3.2.5 Spain
    6. 2.3.2.6 Italy
    7. 2.3.2.7 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 India
    2. 2.3.3.2 China
    3. 2.3.3.3 Japan
    4. 2.3.3.4 Australia
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle East and Africa
    1. 2.3.5.1 United Arab Emirates
    2. 2.3.5.2 South Africa
    3. 2.3.5.3 Rest of Middle East and Africa