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 major factors which have driven the market growth are rising awareness about the health benefits by consumption of wines, rising disposable income, and increase consumption of alcohol among youngsters.
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Market Synopsis of Port Wine Market:
Red wine has accounted for more
than 60% market share, in 2018 due to high preference by consumers. The
consumption of red wine help to prevent heart diseases, as it is prepared from
steeping skins of grapes and includes resveratrol. Hence, rising awareness
about the health benefits of red wine is expected to surge the demand for this
segment.
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. The Tawny segment
is expected to be the fastest-growing. The tawny is made in small barrels,
which enable wine oxidization. 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. However, vintage wine is very rare as it is aged for 10 to 40
years. Many market players offer auctions to increase awareness and sales of
vintage wines.
Among distribution channels, the
online distribution channel is anticipated to grow with the highest CAGR.
Online shopping allows hassle-free transactions, easy returns, offers and
discounts and faster delivery. Thus, consumer shift towards shopping from
online portals owing to its several benefits is expected to further drive the
growth of this segment.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Port Wine: Market
Variables, Trends & Scope
Chapter 4 Port Wine: Product
Estimates & Trend Analysis
Chapter 5 Port Wine: Application
Estimates & Trend Analysis
Chapter 6 Port Wine: End-use
Estimates & Trend Analysis
Chapter 7 Port Wine: Industrial
End-use Estimates & Trend Analysis
Chapter 8 Port Wine: Regional
Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Port Wine:
Manufacturers Company Profiles
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