Global Fortified Wine Market Size to worth USD 41.01 Billion by 2033: Forecast Analysis Report

Global Fortified Wine Market Size to worth USD 41.01 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Fortified Wine Market Size is Expected to Grow from USD 16.55 Billion in 2023 to USD 41.01 Billion by 2033, at a CAGR of 9.50% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Fortified Wine Market Size, Share, and COVID-19 Impact Analysis, By Product (Port Wine, Vermouth, and Sherry), By Distribution Channel (Pub, Bars & Restaurants, Internet Retailing, Liquor Stores, and Supermarkets), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.          

Fortified wine is that which has been fortified by the addition of distilled spirits; preferably brandy, to increase alcohol content. It increases the strength of the wine but changes the flavor as well. Fortified wines are generally grouped into types including port, sherry, Madeira, and vermouth, among others, that have unique flavors due to the type of spirit used, whether fermentation is arrested, and methods of aging. Fortified wines are consumed for their rich flavors and are largely used in informal drinking and culinary preparation. Furthermore, the key drivers of the fortified wine market are the increasing demand for premium and artisanal alcoholic beverages. Consumers are becoming more discerning, and there is a growing demand for distinctive and high-quality products such as fortified wines. The growth in global wine culture, especially in emerging markets, supports the growth of the market. The versatility of fortified wines in their culinary uses and their popularity in cocktails and aperitifs also contribute to increasing consumption. Wine tourism and wine-related events are on the rise, fueling market growth. However, the market faces challenges such as stringent regulations and taxes on alcoholic beverages in certain regions, which may limit its growth potential. Moreover, the perception of fortified wines as a niche product could restrict its widespread appeal.

The port wine segment is predicted to hold the greatest market share through the forecast period.

Based on the product, the fortified wine market is classified into port wine, vermouth, and sherry. Among these, the port wine segment is predicted to hold the greatest market share through the forecast period. Port wine, known for its rich, sweet flavor and higher alcohol content, has a long-standing tradition and strong global recognition, particularly in European and North American markets. Its popularity in both casual consumption and as a key ingredient in high-end cocktails contributes significantly to its market dominance.

The liquor stores segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the distribution channel, the fortified wine market is divided into pubs, bars & restaurants, internet retailing, liquor stores, and supermarkets. Among these, the liquor stores segment is anticipated to hold the greatest market share during the projected timeframe. Liquor stores are a key distribution channel for alcoholic beverages, including fortified wines, due to their wide availability and accessibility. Consumers seeking a variety of fortified wine options, such as port, sherry, and vermouth, often turn to liquor stores for their extensive selections.

North America is estimated to hold the largest fortified wine market share over the forecast period.

North America is estimated to hold the largest fortified wine market share over the forecast period. Premiumization of alcoholic beverages is a prime driver for this market, where millennials and younger professionals are developing an interest. The U.S. is also the largest in the region where demand for high-alcohol content wines with high flavor diversity has increased. Rising specialty wine shop numbers and home consumption due to lifestyle changes are also driving growth in the market.

Middle East and Africa are predicted to have the fastest CAGR growth in the fortified wine market over the forecast period. The Middle East market remains niche in some countries due to cultural and religious restrictions placed on alcohol intake. However, in South Africa, fortified wines are gaining preference with the resurgence of wine production as a nation's tradition coupled with premiumization and artisanal trends. Urban areas with expatriate demographics and tourism contribute significantly to these trends.

Company Profiling

Major key players in the fortified wine market are E. & 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), and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2024, Sokol Blosser Winery released its inaugural lineup of fortified wines. The White Aperitif comes with vivid scents of citrusy, sharp lemon and ripe pineapple along with honeydew melon that is sharpened by the merest whiff of anise, whereas the Red Aperitif, with scents of dark cherry, pomegranate, and a warming mulled wine, it leans more into being a dry amaro-like aperitif than vermouth.

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the fortified wine market based on the below-mentioned segments:

Global Fortified Wine Market, By Product

• Port Wine
• Vermouth
• Sherry

Global Fortified Wine Market, By Distribution Channel

• Pub
• Bars & Restaurants
• Internet Retailing
• Liquor Stores
• Supermarkets

Global Fortified Wine Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa