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 duri...