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According to a new report by Fact.MR, the global fortified wine market is projected to register a low single-digit CAGR during the forecast period 2017 to 2022. Majority of people believe premium products to contain high-quality ingredients. Product premiumization is therefore considered as a major strategy adopted by market players in order to fuel adoption of fortified wine worldwide. Revenues from global sales of fortified wine are estimated to account for approximately US$ 2,000 Mn by 2022-end.
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Growth in demand for new flavored fortified wine has been observed over the recent past. Leading market players are concentrating on launching new flavors for fortified wine, with an aim to fulfil rapidly changing consumer preferences. For example – in 2016, three new flavors for fortified wine were launched by McWilliam’s viz. McWilliam’s Spice Royale, McWilliam’s Strawberry Delight, and McWilliam’s Espresso Press. Marijuana-infused fortified wines have been gaining an uptake in demand from consumers, particularly in the U.S. as such products are legal in the region. In addition, alcoholic beverage industries are focusing on R&D activities, in a bid to introduce a variety of new and innovative flavored fortified wines in the market.
Key findings of the Fortified Wine market study:
• Regional breakdown of the Fortified Wine market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Fortified Wine vendors in detail.
• Region-wise and country-wise fragmentation of the Fortified Wine market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Fortified Wine market.
A full report can be accessed from here – https://www.factmr.com/report/163/fortified-wine-market
On the basis of product, the Fortified Wine market study consists of:
• Marsala, Port
On the basis of Sales Channel, the Fortified Wine market study incorporates:
• Modern Trade
• Grocery Store
• Convinience Store
• Other Retail Format
On the basis of region, the Fortified Wine market study contains:
North America, Latin America, Europe, Japan, APEJ, and MEA
Key players analyzed in the Fortified Wine market study:
Bacardi Limited, E. & J. Gallo Winery, Davide Campari-Milano S.p.A., The Wine Group LLC, Sogevinus Fine Wines, S.A., F.LLI GANCIA & C. S.p.A, and Sogrape SGPS, SA.
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Queries addressed in the Fortified Wine market report:
• How has the global Fortified Wine market grown over the historic period of 2012-2016?
• Why are the Fortified Wine market players targeting region for increased product sales?
• What patented technologies are the players utilizing in the global Fortified Wine market?
• Which regions are displaying the fastest growth in the Fortified Wine market?
• What are the underlying micro- macroeconomic factors affecting the global Fortified Wine market?
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