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Port Wine Market Size, Growth, 2019-2025 | Industry Trends Report

Port Wine Market Analysis Report By Nature, By Type, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619553  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global port wine market was estimated at USD 825.68 million in 2018 and is expected to grow CAGR at 4.0% over the forecasted period, from 2019 to 2025. Rapidly increasing consumption of different varieties of alcohol such as craft beer, whiskey, and premium wines among young consumers has provided traction to the market growth. 

Compare to alcoholic beverage, red wine contains less acidic ingredients, which is also expected to be a key factor in driving the market. Growing popularity of premium wines is expected to fuel the market demand over the forecast period.

U.S. port wine market

Currently, people are becoming more conscious regarding the production process. Presence of a large number of vineyards, which allows people to take a tour and observe the production process. Further, producers are introducing various flavors such as caramel, raspberry, chocolate, blackberry, and cinnamon to attract more customers across the globe. 

The port wines are categorized based on the fermentation process and age of wines. Ruby wine, which is more common, are aged for 2 years. The vintage wine is the rarest wine as it is aged for around 10 to 40 years.

Nature Insights

By Nature, the port wine market is divided into red and white wines. The red wine accounted for the largest market share and expected to grow with a CAGR of 4.2% 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. Hence, rising awareness about the health benefits of red wine is expected to surge the demand for this segment.

Type Insights

By type, the market is divided into ruby, tawny and vintage. Among the types, the ruby port segment is projected to grow with CAGR of 3.9% during the forecast period due to easy availability, low cost as compare to tawny, and vintage. 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 wine benefits, thereby tawny is the perfect option for them. 

Global port wine market

Distribution Channel Insights

By distribution channel, the port wine market is bifurcated into online and store-based sales channels. Increasing the influence of online platforms is overtaking the store-based channel. Hence, the online channel is expected to grow with a CAGR of more than 4% during the forecast period. High usage of the internet through smart devices is becoming popular in non-metro. In addition, several benefits of online shopping such as hassle-free delivery, easy returns, offers, and discounts are projected to boost this segment in over the next few years. The store-based channel is expected to experience significant growth as it is still used by some customers.

Regional Insights

Europe held the largest market share, in 2018 and is expected to maintain its dominance through the forecast period, as Europe is the main origin of port wine. In this region, countries such as Spain and the U.K. are the top consumers of port wine. Moreover, Spain has contributed significant market share in Europe market due to high production of grapes.

Asia Pacific is expected to grow with a CAGR of more than 5% during the forecast period. In this region, India is expected to grow at the highest CAGR of more than 10% during, 2019 to 2025. China and India accounted for 34% of the world population, thereby anticipated to boost the market growth in this region.

Port Wine Market Share Insights

The major players included in this market are C N Kopke Wineries, The AA Calem, Martinez Gassiot, Vinhos SA, Cockburn Smithes, Companhia Lda wineries, Forrester & Weber, OffleyQuinta do Crasto, Grupo Sogevinus SGPS SA Wineries, Ramos Pinto and Delaforce Sons & Companhia Wineries. The high initial investment for the land is the major entry barrier for new market players. The wine is prepared by special types of grapes and production for these grapes varies ineach region. This again imposes barriers for new entrants. The market is driven by several strategies such as product development, merger, and acquisition, by market players.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Spain, U.K., China, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global port wine market report based on nature, type, distribution channel, and region:

• Nature Outlook (Revenue, USD Million, 2015 - 2025)
    • Red
    • White

• Type Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Ruby
    • Tawny
    • Vintage

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Store-based

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Spain
        • U.K.
    • Asia Pacific
        • China
    • Rest of World
        • South Africa

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