Vermouth Market Size to Surpass USD 9.64 Billion by 2033 | Burgeoning Demand for New Flavors of Fortified Wines

Growing demand for beverages with a low alcohol content by millennials and adults in pubs and restaurants is projected to be a main driver for vermouth market growth.

Newark, Sept. 05, 2024 (GLOBE NEWSWIRE) — Global vermouth market is projected to reach USD 9.64 billion by 2033, at a CAGR of 3.10% from 2024 to 2033. Rising demand for beverages with a low alcohol content among adults and millennials in restaurants and pubs is projected to be the main driver for market growth.

Request PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/12586

Recent Developments:

Key developments in the Vermouth market include the introduction of innovative flavors and organic variants to cater to health-conscious consumers. Additionally, the market has seen an increase in mergers and acquisitions as companies aim to expand their product portfolios and geographical reach. The adoption of online sales channels has also risen, driven by changing consumer purchasing behaviors.

Key players in the global vermouth market are Atsby Vermouth, Bacardi Limited, Belsazar, Branca International S.p.A., Cinzano, Contratto, Distillerie des Alpes, E.and J. Gallo Winery, F.LliGancia& C. SPA – Canelli (Asti – Italy), FratelliBrancaDistillerieSrl (Carpano), Giulio CocchiSpumantiSrl, Imbue, La Quintinye Vermouth Royal, Lo-Fi Aperitifs, Lustau, Maidenii, Mancino Vermouth, Martinez Lacuesta, Martini, Napa, Ca., Noilly Prat, Quady Wines, Ransom, Regal Rogue, Riserva Carlo Alberto, Sutton Cellars and Uncouth Vermouth among others. The increasing demand for new flavours of fortified wines is the main growth driver for the global vermouth industry. Market participants are coming up with different flavors for fortified wines to meet the growing demands of their customers. The taste preferences of customers are constantly changing and there is high demand for new and exotic flavors in fortified wines.
The type segment is divided into sweet, dry and white vermouth. The sweet segment held the largest market share of around 40.11% in 2023 as age-old spirits like bourbon or rye, scotch and dark rum go well with sweet vermouth. Among the famous cocktails that use sweet vermouth are the Manhattan, Negroni, and Rob Roy. It may even be consumed by itself, it is always too sweet to be pleasant alone. The packaging segment includes plastic bottles, glass bottles and others. The glass bottles segment held the largest market share of around 81.32% in 2023 as when it comes to wine, tradition means something. Many people believe the wine they are drinking should be in a stem-shaped glass and should come from a cork bottle. Glass bottles often do an excellent job of protecting wine, irrespective of whether they are sealed with a cork or a screw cap or a synthetic stopper. The distribution channel segment includes off trade and on trade. The on-trade segment is anticipated to grow at the highest CAGR of around 4.2% over the forecast period because of the high sales of these products by pubs, nightclubs, bars, hotels, restaurants and cafés (HoReCa).

Market Dynamics:

Drivers:

The market growth is primarily driven by the growing demand for low-alcohol drinks among millennials and the expansion of the premium beverage sector. Technological advancements in production processes and packaging, along with the increasing popularity of mixology, are also contributing to market expansion.

Restraints:

Challenges facing the market include competition from other alcoholic beverages such as craft beers and the availability of alternative products. Furthermore, supply chain disruptions and fluctuating raw material prices pose additional restraints.

Opportunities:

Opportunities in the Vermouth market include the rising trend of organic and clean-label products, as well as the potential for growth in emerging markets, particularly in Asia and Latin America. Innovations in sustainable packaging and the use of blockchain for better supply chain management also present significant growth prospects.

Market Advancements:

The industry has seen advancements in production techniques, allowing for more efficient and sustainable processes. Additionally, there has been a shift towards eco-friendly packaging and the development of new product formulations that cater to the evolving tastes of consumers.

Procure Complete Report (230 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.thebrainyinsights.com/report/vermouth-market-12586

Report Metrics Details

Report Coverage	Details
Forecast Period	2024-2033
Forecast CAGR	3.10%
2023 Value Projection	USD 7.11 billion
Market Size in 2033	USD 9.64 billion
Historical Data	2020-2022
No. of Pages	225
Segments Covered	By Product Type Dry, Sweet and White Vermouth
Regions Covered	The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East Africa. Furthermore, the regions are further analyzed at the country level.

Regional Segmentation Analysis:

• North America: Dominated by the U.S., this region is witnessing growth due to increasing demand for premium alcoholic beverages.
• Europe: A traditional stronghold for Vermouth, especially in countries like Italy and France, the market continues to expand with the introduction of new flavors and artisanal brands.
• Asia-Pacific: Emerging as a significant market, driven by rising disposable incomes and the growing influence of Western drinking culture.
• South America: Steady growth observed, particularly in markets like Brazil and Argentina, where Vermouth is gaining popularity in cocktail culture.
• Middle East & Africa: Although smaller in market size, this region shows potential for growth due to increasing urbanization and the expansion of the hospitality sector.

For more information in the analysis of this report, speak to research analyst: https://www.thebrainyinsights.com/enquiry/request-customization/12586

Also, the increasing popularity among millennials of fortified and aromatized wines on a global level is expected to remain one of the key driving forces for the market over the forecast period.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

Contact Us

Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected] 
Web: http://www.thebrainyinsights.com

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.