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Port Wine Market by Type (Tawny and Ruby), Price Point (Premium and Mass), and Sales Channel (On Trade and Off Trade) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2022 to 2027

Published: March, 2023
ID: 13345
Pages: 180
Formats: report pdf report excel report power bi report ppt

Port Wine Market Size, Growth, Forecast (2022-2027)

Port Wine Market is valued at USD 980.4 million in 2021 and is expected to grow at a 6% CAGR to USD 1277.4 million in 2027.

Port wine is a fortified wine from Portugal that is made in the Douro valley along the Douro River. The process of adding a grape spirit to wine during or after fermentation is known as fortification. This includes increasing the alcohol content, stopping fermentation in some cases, and extending the shelf life. Britishers first added brandy to extend its life span so that it could be easily exported. Wine grapes are harvested from the vineyard and transported to the lagers, where they are crushed in order to make wine. As soon as the grapes are harvested, they are then transferred to the fermentation tank, where they are allowed to ferment until the best level of sugar is reached. Adding brandy to wine prolongs its life by stopping the fermentation process. Furthermore, these wines should be aged for at least two years before being used. Two types of oak barrels are used for aging the wine: large barrels and small barrels. The small barrels produce better results due to the higher oxygen exposure than the large barrels.

Port Wine Market

Port Wine Market Key Developments

  • Taylor Winery announced the availability of a canned tonic Port wine in Portugal, the United Kingdom, and the United States of America. It aims to enhance the company's relevance among young people and, more equally, to expand its business and make it more appealing to them.

  • Calabria Family Wines announced the acquisition of McWilliam's Wines, which will help the company to expand its product portfolio in Australia.

  • Calabria Family Wines has announced the acquisition of three Australian wineries: Deakin Estate, La La Land, and Azahara. They will be able to produce all the wines within the portfolios of each of the brands from their Griffith winery. In addition, they will manage the marketing across all segments of the business from there.

  • Precept Wine announced the acquisition of Sheffield Cellars and Fairbanks dessert wine portfolio from E. & J. Gallo Winery. The acquisition of this winery will not only help to strengthen Precept's growing portfolio, but will also allow them to expand their footprint in the burgeoning category of dessert wines.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 - 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

6 %

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Sogrape Vinhos, S.A., Calabria Family Wines, Sula Vineyards, Grupo Sogevinus Fine Wines, Symington Family Estates, Quevedo, Adriano Ramos Pinto, Fonseca Port Wine, Mazuran's Vineyards Limited, The Wine Company PTY LTD

Port Wine Market Drivers:

The increasing consumption of wine due to its various health benefits, excellent taste, and the fact that it is less harmful than whiskey or beer are a few of the primary factors which are driving the growth of the Port Wine market. The grapes used in the making of this wine contain resveratrol, which is a powerful antioxidant that protects the body from various diseases, such as heart diseases and autoimmune diseases.It also aids in the reduction of LDL cholesterol, which damages arteries. Moderate and regular consumption of wine can help to fight depression and help to maintain mental health. In addition, there is a growing trend among the younger generation of individuals to become more conscious of their health and fitness. This is due to their busy lifestyles and various health benefits. This has in turn led to a boost in the market share of port wine.

Restraints in the Port Wine Market

A significant impact on the quality of wine can be attributed to climate change, alterations in weather patterns, and changes in carbon dioxide levels. In addition, a sudden change in temperature during the aging process can also reduce the quality of the taste. As a result of these factors, the growth of the port wine market is constrained.

Port Wine Market segmentation:

Port Wine Market - By Type

  • Tawny
  • Ruby

Among the types of segmentsthe Ruby Wine segment accounts for the majority of the revenue share. It can be attributed to their deep red colour and the fact that they are filled with the sweet taste of red fruits. Additionally, these types of port wines are more readily available and less expensive than other types of port wines that are on the market today. Furthermore, tawny wine is estimated to grow at the highest CAGR during the forecasted period. Due to the fact that tawny wine is aged in small oak barrels and is prepared in this way, its quality is very high due to its ageing process. Having a higher awareness of health and fitness, the younger generation prefers quality over quantity in terms of diet, lifestyle, and health. As a result of these factors, the market for port wine is expected to be driven by this segment.

Port Wine Market - By Price Point

  • Premium

  • Mass

A segment of mass by price point led the global market in 2021, and it will continue to grow at a high CAGR in the global market over the rest of the forecast period as well. Since port wine is relatively inexpensive compared to premium port wines, a large segment of the population will be able to afford it, giving it a competitive advantage.

Port Wine Market - By Sales Channel

  • Online

  • Offline

The online sub-segment will lead the sales channel segment and is estimated to grow at the highest growth rate during the forecasted period. The main advantage of online retail is that it is convenient for the consumer. People today lead busy lives, and when they need to buy wine, they are more likely to shop on the internet rather than travel to a physical store. As a result, they are able to save a lot of time, effort, and money as well.

Port Wine Market Regional Analysis:

  • Asia Pacific

  • North America

  • Europe

  • Latin America

  • Middle East & Africa

Europe is expected to grow and hold the largest market share in this region during the forecasted period. A large number of wine companies operate in the region, as well as the best quality grapes are grown here, contributing to the success of the region. There has been a huge growth in the market for wine grapes in recent years due to France's being the world's largest producer.

The Asia-Pacific region is expected to grow at the fastest CAGR over the next few years due to the huge market and the growing population in the region. China, India, and Japan are going to become some of the most important markets for the wine industry in the near future.

Port Wine Market Key Players

  1. Sogrape Vinhos, S.A.

  2. Calabria Family Wines

  3. Sula Vineyards

  4. Grupo Sogevinus Fine Wines

  5. Symington Family Estates

  6. Quevedo

  7. Adriano Ramos Pinto

  8. Fonseca Port Wine

  9. Mazuran's Vineyards Limited

  10. The Wine Company PTY LTD

  11. Taylor

  12. Precept Wine

 

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FAQ's

What is the port wine market's CAGR?

The port wine market is expected to grow at a 6% CAGR during the forecasted period.

Which region will lead the market by the end of 2027 in terms of value?

Europe is estimated to grow during the forecasted period.

Which are the major companies that will lead the port wine market?

Calabria Family Wines, Taylor, Precept Wine, and others are leading companies in the port wine market.

What is the main driving factor for the growth of the port wine market?

The health benefits of port wine are the major factor driving the growth of the port wine market.

Mention one recent development in the port wine market?

Taylor Winery announced the availability of a canned tonic port wine in Portugal, the United Kingdom, and the United States of America.

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