Port Wine Market

Global Port Wine Market Size (2024 to 2029)

The Global Port Wine Market is predicted to grow at a CAGR of 6.0% from 2024 to 2029 and the market size is expected to be valued at USD 1.55 billion by 2029 from USD 1.16 billion in 2024.

MARKET OVERVIEW

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.

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.

MARKET RESTRAINTS

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.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Port Wine Market Analysis By Type

Among the types of segments, the 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.

Global Port Wine Market By Price Point

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.

Global Port Wine Market By Sales Channel

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.

REGIONAL ANALYSIS

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.

KEY PLAYERS IN GLOBAL PORT WINE MARKET

Key Players In Global Port Wine Market Are 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, Taylor, Precept Wine.

RECENT HAPPENINGS IN THE MARKET

• 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.

DETAILED SEGMENTATION OF GLOBAL PORT WINE MARKET INCLUDED IN THIS REPORT    

This research report on the Global Port Wine Market Has been segmented and sub-segmented based on Type, Price Point, Sales Channel & region.      

By Type

• Tawny
• Ruby

By Price Point

• Premium
• Mass

By Sales Channel

• Online
• Offline

By Region

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa