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The global port wine market size is estimated reach USD 1.8 billion by 2025 expanding at a CAGR of 4%, according to a new report by Radiant Insights, Inc.
The red wine is prepared from the grape skin and thus is rich in organic compounds and has tannins and resveratrol, which are good for health.
Therefore, red wine is the dominant segment and will witness a significant growth over the years to come.
Among the different types of port wines, ruby wine is the most preferred due to its low price and easy availability.
This type of wine is aged for 2 or less years thus, costs less.
Tawny wine is witnessing the fastest growth as young consumers prefer quality over quantity with the factor of cost-effectiveness.
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The global port wine market size is expected to reach USD 825.68 Million by 2025, according to Million Insights, registering a CAGR 4.0% over the forecast period.
The consumption of red wine help to prevent heart diseases, as it is prepared from steeping skins of grapes and includes resveratrol.
Among port wine types, the ruby wines are mostly preferred by customers due to low cost and easy availability.
This type of wine is aged for 2 years resulting in low cost.
It has a spicy aroma with a rich flavor of dried nuts and fruits.
The young age group prefers to buy high-quality wine with cost-effective port wines.
In a recent business intelligence study, FactMR presents the nitty-gritty of the global fortified wine market considering 2012-2016 as the historic year and 2017–2022 as the stipulated timeframe.
The business report highlights the drivers, restraints, opportunities and trends affecting market growth.
Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.The fortified wine market analysis report outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions.
The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.
Prominent players covered in this research are Bacardi Limited, E. & J. Gallo Winery, Davide Campari-Milano S.p.A., The Wine Group LLC, Sogevinus Fine Wines, and many others.According to a new report by FactMR, the global fortified wine market is projected to register a low single-digit CAGR during the forecast period 2017 to 2022.
Product premiumization is therefore considered as a major strategy adopted by market players in order to fuel adoption of fortified wine worldwide.