The North America Fortified Wine Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
The emergence of a health-conscious population and conscious consumption trend, as well as a preference for convenient and high-quality products, are driving major disruptions in the alcoholic and non-alcoholic beverage industries. Given the growing popularity of ready-to-drink (RTD) alcoholic beverages, fortified wine producers are focused on new alcoholic beverage packaging trends, particularly wine in cans. This strategic initiative is likely to attract new generations of consumers and broaden the range of wine consumption occasions. Furthermore, as cocktail culture takes root and customers shift from everyday to luxury fortified wines, industry players will need to develop new marketing tactics using novel integrated approaches.
The food that goes with each variety of fortified wine is different. Fortified wines are commonly used as an aperitif as well as a dessert wine. A fortified wine is an excellent partnering companion for a variety of cheeses, nuts, fruit tarts, and cream-based or chocolate desserts.
Fortified wines are among the fastest-growing alcoholic beverage varieties in the United States, as they provide customers with more unique selections and options. The proliferation of fortified wines in the country has been fueled by the development of single-spirit bars. Antique fortified wines like sherry and port, are particularly popular in such establishments. Companies have launched aggressive branding initiatives and social media marketing to increase brand recognition. Fortified wine has also been recommended as a cocktail ingredient.
Port, vermouth, and sherry, according to bartenders, have several properties that make them appealing for blending. Furthermore, the natural sweetness of these wines is sufficient to substitute the simple syrup frequently used in cocktails. Over the last few years, sherry fortified wines have experienced a remarkable renaissance in the United States.
The US market dominated the North America Fortified Wine Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,486.9 million by 2028. The Canada market is anticipated to grow at a CAGR of 12.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Fortified Wine Market is Predict to reach $27.3 Billion by 2028, at a CAGR of 10.9%
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.
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