Global Fortified Wine Market 2017-2021
About Fortified Wine
Fortified wine is a type of wine, where distilled spirits like brandy are added. Fortified wines have a high alcohol content and usually have about 15%-22%. Distilled spirit is added to wine before the fermentation process is complete to make the wine sweeter and strong.
Technavio’s analysts forecast the global fortified wine market to grow at a CAGR of 4.38% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fortified wine market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fortified Wine Market 2017-2021
Technavio recognizes the following companies as the key players in the global fortified wine market: BACARDÍ, E. & J. Gallo Winery, Gruppo Campari, and The Wine Group.
Other Prominent Vendors in the market are: Anchor Brewers & Distillers, Atsby Vermouth, Contratto, Dolin, Gancia, Imbue Cellars, Sogevinus Fine Wines, Sogrape Vinhos, Symington, and Taylor, Fladgate & Yeatman.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for wine in the US and China. The US is the leading consumer of wine in the world. The increasing consumption of wine in the US market is driving the growth of global fortified wine market.”
According to the report, one driver in the market is increasing demand for new flavors in fortified wines. The increasing demand for new flavors in fortified wines is another growth driver of the global fortified wine market. The players in the market are coming up with new flavors for fortified wines to meet the changing demands of their customers.
Further, the report states that one challenge in the market is campaigns against alcohol consumption. Campaigns against alcohol consumption launched by various organizations in many countries limit the market's growth. The increasing incidences of alcohol abuse and alcohol-related accidents, especially among the young generation, have encouraged many regulatory and social organizations to launch campaigns against alcohol sale and consumption.
BACARDÍ, E. & J. Gallo Winery, Gruppo Campari, The Wine Group, Anchor Brewers & Distillers, Atsby Vermouth, Contratto, Dolin, Gancia, Imbue Cellars, Sogevinus Fine Wines, Sogrape Vinhos, Symington, and Taylor, Fladgate & Yeatman.
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