According to a new report, published by KBV research, The Global Fortified Wine Market size is expected to reach $27.3 billion by 2028, rising at a market growth of 10.9% CAGR during the forecast period.
The Liquor Stores segment acquired maximum revenue share in the Global Fortified Wine Market by Distribution Channel in 2021; thereby, achieving a market value of $9.7 billion by 2028. The fortified wine market is being driven by the growing number of liquor outlets around the world. Various manufacturers are offering their products through liquor stores, fueling the segment's growth. Furthermore, convenient access to a variety of products through stores for customers is another reason for the segment’s high revenue share.
The Sherry segment is showcasing a CAGR of 11.6% during (2022 - 2028). This segment has grown in popularity due to the increased popularity of sherry wine among western customers as a drink during dinner to keep the body warm. Sherry comes in a variety of flavors depending on the grapes used. Although it is usually served dry, it is occasionally sweetened and served as a dessert wine. Various health benefits of sherry wine, such as antioxidants, cholesterol maintenance, reducing hypothermia, and many more, have caused the high demand for the product.
The Europe market dominated the Global Fortified Wine Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11.7 billion by 2028. The North America market is estimated to witness a CAGR of 10% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 12.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fortified-wine-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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By Geography
Companies Profiled
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