In a recent business intelligence study, FactMR presents the nitty-gritty of the global fortified wine market considering 2012-2016 as the historic year and 2017–2022 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
The fortified wine market analysis report outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Bacardi Limited, E. & J. Gallo Winery, Davide Campari-Milano S.p.A., The Wine Group LLC, Sogevinus Fine Wines, and many others.
According to a new report by FactMR, the global fortified wine market is projected to register a low single-digit CAGR during the forecast period 2017 to 2022. Majority of people believe premium products to contain high-quality ingredients. Product premiumization is therefore considered as a major strategy adopted by market players in order to fuel adoption of fortified wine worldwide. Revenues from global sales of fortified wine are estimated to account for approximately US$ 2,000 Mn by 2022-end.
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Growth in demand for new flavored fortified wine has been observed over the recent past. Leading market players are concentrating on launching new flavors for fortified wine, with an aim to fulfil rapidly changing consumer preferences. For example – in 2016, three new flavors for fortified wine were launched by McWilliam’s viz. McWilliam’s Spice Royale, McWilliam’s Strawberry Delight, and McWilliam’s Espresso Press. Marijuana-infused fortified wines have been gaining an uptake in demand from consumers, particularly in the U.S. as such products are legal in the region. In addition, alcoholic beverage industries are focusing on R&D activities, in a bid to introduce a variety of new and innovative flavored fortified wines in the market.