Fortified Wine Market Type and Application, Forecast to 2032

1. Fortified Wine Market Size to Cross USD 85 Bn by 2032 Global Market Insights Inc.

2. Overview of Fortified Wine Market • The fortified wine market is anticipated to cross USD 955 million by 2032, as reported in a research study by Global Market Insights Inc. • The increasing demand for Fortified Wine in animal feed and as a food ingredient, color additive, and nutrient supplement has enhanced the product penetration rate globally. Fortified Wine contains a high amount of vitamin-A and essential pro-vitamins that aid in improving the fertility rate and immunity in dairy cattle, poultry, and other farm animals. The growth of the animal feed industry is likely to raise the demand for Fortified Wine. Fortified Wine is an important animal feed additive as it optimizes fertility and the growth of livestock, such as swine, goat, sheep, bovine, and chicken, to produce meat. • The Fortified Wine market from algae source segment valued at USD 14.50 million revenue in 2022, due to the rising demand for natural plant-based ingredients due to the growing trend of veganism. The product is used in dietary supplements as well as functional food & beverages. These numerous applications of algae-based beta-carotene are fueling the market demand. Global Market Insights Inc.

3. Continue… • The Sherry product segment is anticipated to witness sustained growth during the study period, driven by its versatility and unique production methods. Whether enjoyed on its own or as a key ingredient in cocktails and culinary creations, Sherry's diverse profiles, including Fino, Manzanilla, and Oloroso, contribute to the product appeal in the hospitality sector as well as among the consumers. • The liquor stores as distribution channel segment is anticipated to grow at a substantial pace through 2032 as they serve as key touchpoints for consumers to explore a diverse range of fortified wines. These stores curate a diverse and well-selected range of fortified wines, offering consumers a variety of choices. The better accessibility as well as extensive choice range in liquor stores will bolster the sales of fortified wines. Global Market Insights Inc.

4. Continue… • Asia Pacific fortified wine industry is poised for a steady growth during 2023 and 2032, attributed to the expanding middle class, increasing disposable income, and a growing appreciation for diverse alcoholic beverages. Moreover, countries like China, Japan, and South Korea are witnessing a surge in popularity for fortified wine consumption. This shift is driven by cultural influences and a growing curiosity for premium offerings. The large population with a potential of huge consumer base is encouraging the winemakers to explore the opportunities in the region and boost industry growth. • Notable participants in the fortified wine market include: E. & J. Gallo Winery, Constellation Brands, Inc., Treasury Wine Estates, Grupo Sogevinus Fine Wines, Trinchero Family Estates, Deutsch Family Wine & Spirits, The Wine Group, Pedro Domecq Sherry, Croft Port Global Market Insights Inc.

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