Asia Pacific Fortified Wine Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Liquor Stores, Internet Retailing, Supermarkets, Pub, Bars & Restaurants), By Product, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Fortified Wine Market would witness market growth of 12.2% CAGR during the forecast period (2022-2028).
The influence of the 'convenience' factor can also be seen in fortified wine distribution trends. Growing popularity of modern trade channels, as well as the rise of discounters, are defining growth strategies, while manufacturers are progressively shifting product sales to e-commerce, which is quickly becoming the market's key driving force. The easy availability of a varied range of items and door-to-door delivery services are attracting a bigger number of consumers with strong purchasing power, resulting in higher profit margins for producers.
The bulk of fortified wines are stylistically comparable to the wine classes used in the blend. Although some people confuse fortified wines with liquor, they are not distilled. This is especially true of vermouth, which is most likely due to its use in martinis. The strengthening liquor is frequently referred to as "neutral grape spirit." This is essentially a brandy or eau de vie. Whether a wine is sweet or dry depends on how long it ferments before being fortified.
Women, particularly middle-class and young women, have been driving the rise of India's wine culture. Increased tourism from other countries has also helped people of India fall in love with wine. Another element is the doctors' claims about health advantages. For the same reason, red wine accounts for 55-60% of total wine consumption, while white wine accounts for 45 percent; the balance is made up of rose and sparkling wine, which is becoming more popular. Thus, the growing acceptance of wine in the regional culture is positive news for the fortified wine market in the region.
Indian wines are gradually becoming more popular, but only some of them are exported. Higher-priced and higher-quality wines are being introduced to the portfolio as a result of ongoing premiumization, with the top end of the range selling for up to Rs. 4500 ($65) per bottle. Wines, on the other hand, are warmly received by expats who visit and taste the wines for their flavor characteristics.
The China market dominated the Asia Pacific Fortified Wine Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,623.9 million by 2028. The Japan market is poised to grow at a CAGR of 11.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 12.8% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Liquor Stores, Internet Retailing, Supermarkets, Pub, Bars & Restaurants, and Others. Based on Product, the market is segmented into Vermouth, Sherry, Port Wine, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bacardi Limited, Campari Group, The Wine Group, E. & J. Gallo Winery, Anchor Brewing Company, Rhys & Rylee LLC (Atsby Vermouth), Symington Family Estates , Sogrape Vinhos, S.A., McWilliam's Wines Group Ltd.
By Distribution Channel
- Liquor Stores
- Internet Retailing
- Pub, Bars & Restaurants
- Port Wine
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Bacardi Limited
- Campari Group
- The Wine Group
- E. & J. Gallo Winery
- Anchor Brewing Company
- Rhys & Rylee LLC (Atsby Vermouth)
- Symington Family Estates
- Sogrape Vinhos, S.A.
- McWilliam's Wines Group Ltd.
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