Fortified Wine Market size is expected to reach USD 31.5 Billion by 2028

 Fortified Wine Industry Overview

The global fortified wine market size was valued at USD 13.84 billion in 2021 and is expected to expand at 12.5% from 2022 to 2028.

 

This can be credited to the health benefits offered and the premiumization of wine products. Moreover, technological advancement and development in the manufacturing and innovation in flavors are accelerating market growth over the upcoming years. The rising consumption and demand for alcoholic drinks in various special events are further supporting the industry's growth. The consumption of the product is considered social recognition, which in turn will drive the industry growth during the forecast timeline. In addition to this, various health benefits are associated with consumption of the fortified wine. These are the major driving factors for market growth. However, the increased taxation on wine in several nations and stringent government rules and regulations are hindering the growth of the market during the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Fortified Wine Market

 

Moreover, the increasing investment in R&D by various manufacturers to produce innovative products of fortified wine across the globe is creating opportunities for the market over the upcoming years. However, government guidelines in countries such as the U.S., Germany, U.K., China, and India are expected to maintain the quality of fortified wine products. Recently, the Food Safety and Standards Authority of India (FSSAI) has framed and notified the alcoholic beverages standard regulations 2018 for the manufacturing and labeling of wine.

 

The lockdown announced during the COVID-19 pandemic caused disruption in transportation and suspended the supply of raw materials for a certain time, and affected the manufacturing of the fortified wine. However, the rising awareness about health and promotion of the use of fortified wine after the COVID-19 pandemic has projected to witness a healthy market growth rate in the upcoming years.

 

Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports

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Key Companies Profile

Some of the key players operating in the global fortified wine market include:

  • & J. Gallo Winery
  • Constellation Brands, Inc.
  • Treasury Wine Estates
  • Trinchero Family Estates
  • Deutsch Family Wine & Spirits
  • The Wine Group
  • Liberty Wines Limited
  • Precept Wine, LLC
  • Michelle Wine Estate
  • Backsberg
  • Sogevinus Fine Wines SL (Kopke)
  • Taylor's Port
  • Albina & Hanna

 

Order a free sample PDF of Fortified Wine Market Intelligence Study, published by Grand View Research.

 

 

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