Embarking on a Refined Journey: The Port Wine Market’s Ascent to USD 2,011.9 Million by 2032 with a Robust 8.1% CAGR

Port Wine Market offers a large selection of varieties and vintages to suit both novice and connoisseur drinkers. Because of its distinct manufacturing, It is a popular choice for discerning clients on special occasions and is able to hold its premium position in the market despite ageing processes and methods.

By 2032, the port wine market is expected to be valued at over US$ 2,011.9 million, with a noteworthy compound yearly growth rate (CAGR) of 8.1%.

Consumer consumption habits are the primary driver of growth in the port wine market. Customers are experimenting with various alcoholic beverages, such as whisky, artisan brews, and premium wines.

 Key Takeaways

  • Red port wine dominates the market, expected to hold a significant share in 2022.
  • White wine is poised for lucrative growth at 9.2% during the forecast period.
  • Europe, with a share of around 34.2% in 2022, is set to dominate the global market.
  • South Asia anticipates a lucrative growth rate in the port wine market.
  • Tawny port wine is currently leading the market in 2022

 

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Port wine has grown in popularity among consumers who prefer less acidic libations since it is less acidic than other alcoholic beverages.

More individuals are anticipated to learn about port wine’s resveratrol content and other hidden health advantages through social media platforms and other communication technology, which is expected to boost market growth.

Since people are now more interested in a product’s manufacturing process and place of origin, instructional marketing is a tactic to help port wine gain market share. For the port wine market, the introduction of new flavours like cinnamon, raspberry, chocolate, caramel, and others creates a wealth of expansion potential.

The United States continues to be a focus for many international port wine producers due to its status as the largest wine consumer in the world. Because of the emergence of upper-middle class urban consumers, port wine has had the fastest increase in India over the past ten years.

Key Takeaways from Market Study

  • The market is segmented based on nature, wherein the red port wine is anticipated to account for a significant global port wine market share in 2022.
  • White wine is expected to witness a lucrative growth rate of 9.2% during the forecast period.
  • The European port wine market is anticipated to dominate the global market, with a share of around 34.2% in 2022.
  • South Asia is expected to witness a lucrative growth rate in the port wine market during the forecast period.
  • On the basis of sales channels, the liquor store is expected to hold a dominating port wine market share in 2022, but the online retail store is expected to witness a lucrative growth rate over the forecast period.
  • Based on product type, tawny port wine is dominating the global port wine market in 2022.

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Competitive Landscape

In order to increase revenue and generate sales from regions such as the Middle East and Africa, the companies are focusing on reaching consumers in several untapped markets. There are several regions where premium port wines from other countries are exported. This raises the price of premium products, reducing sales in these regions.

Symington Family, La Martiniquaise, Sogrape, Fladgate Partnership, Sogevinus, A ACálem, C N Kopke, Cockburn Smiths &CompanhiaLda, Delaforce Sons & Companhia, Martinez Gassiot, Vinhos SA, Ramos Pinto, Warren & Companhia, SA, Wiese & Krohn, Sucrs, Lda, and Others are the major participants in the port wine market.

Recent Developments:

  • In 2020, Premium Port Wines, the US importer for leading Port producer Symington Family Estates, is pleased to announce the launch of Fine and Vintage Wines, an online retail store offering the finest Ports, Madeiras, and Douro table wines direct from the producers’ cellars in Portugal.
  • In 2021, Taylor’s launched a digital campaign to coincide with the ‘Port season’ of fortified wine-drinking occasions, which includes Halloween, Bonfire Night, Christmas, and New Year’s Eve.

Port Wine Market by Category

By Nature:

  • Red Wine
  • Port Wine

By Product Type:

  • Ruby]
  • Tawny
  • Vintage
  • Rose
  • Others

By Sales Channel:

  • Modern Trade
  • Restaurants & Bars
  • Tasting Rooms
  • Online Retail Stores
  • Travel Retail Stores

Recent Developments

  • In 2020, Premium Port Wines, the US importer for Symington Family Estates, launched an online retail store offering the finest Ports, Madeiras, and Douro table wines.
  • In 2021, Taylor’s initiated a digital campaign aligned with the ‘Port season,’ celebrating fortified wine-drinking occasions.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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