Fortified wine is considered to be a special wine that is fortified with the presence of additional alcohol that has been added to the base wine during the process of fermentation to bring the average alcohol content up to around seventeen to eighteen percent. Traditional fortified wines are associated with the areas where climate and soil condition do not favor the production of grapes suitable for high quality light wine. The practice of adding alcohol derived from grapes should be wholly or partially fermented by the action of yeasts in order to produce beverages of different character style and alcoholic strength. Wine as an alcoholic drink are widely accepted and are consumed due to its nutritive and healthful properties. European Union Regulations define liquor wines that consists of acquired alcohol content of fifteen and twenty two percent and total alcohol content of at least seventeen percent volume.
Fortified wines are the blends of grapes and various vintages. The majority of the fortified wines are similar in their classification and are either sweet fortified wine or dry fortified wine. The actual aging of the fortified wine depends upon the fortified wine itself. The cheaper the fortified wine lesser is the time it has taken aging in the oak. Fortified wines are known for their long standing contribution to the world of wine. Different kinds of food which includes nuts, cheese, chocolate desserts, and fruit tarts are found to be paired with fortified wines and thus this is boosting the growth rate of the fortified wine over the years. Health benefits associated with the consumption of fortified wine results to increased consumption of wine over the years.
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The global market for fortified wines are segmented into different types and distribution channel. By type the global Port, Sherry, Marsala and Madeira and others. Production of port, sherry and Madeira are subject to complex rules and regulations but are the most preferred wines in the market. However, there are several official bodies and they have specific rules designed in order to protect the authenticity and the quality of the products. The global fortified wine mARKET has been further segmented into by distribution channel namely online channel and offline channel
The fortified wine market is mainly driven by the strong marketing strategies and promotional activities. Rise in demand of fortified wine among the global population is majorly because its consumption is considered as a social recognition. This acts as a major driver in triggering the growth rate of global fortified wine during the forecast period. However factors such as climatic changes, rise in taxes upon fortified wine in several regions and stringent government rules and regulations coupled with emergence of inexpensive substitutes are restraining the global fortified market during the forecast period. Moreover, rising investments on continuous research and development in order to develop innovative products of fortified wine coupled with emergence of several economies are generating opportunities to the global fortified market.
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In the region wise study the global fortified market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe which includes France Germany, Italy witnessed to capture the largest market share due to the rising consumption of fortified wine among the population. Asia Pacific region which includes China, India, and Japan showed a significant growth due to the presence of emerging economies like China and India. Moreover increase in the use of new technologies and continuous research and development among the manufacturers to innovate newer methods to produce fortified wine are the prime drivers of the global fortified wine market in all these regions.
Global key participants in the industry include Indage Vintners Limited, Into Wine, Backsberg Estate Cellars, Vinbros and Company, Albina & Hanna among others.