Port Wine Market Report
Port Wine Market by Type (Tawny, Ruby, and Others), Sales Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028
Global Port Wine Market Analysis
The global port wine market is estimated to generate a revenue of $1,025,842.50 thousand by 2028, increasing from $659,378.20 thousand in 2020, at a noteworthy CAGR of 6.0%.
Increased demand for premium drinks among consumers due to variations in taste pallet is likely to drive the market for port wine in the forecast time period.
However, lack of knowledge about the beneficial health effects of consuming port wine among people is expected to restrain the port wine market share growth.
According to the regional analysis of the market, the Asia-Pacific port wine market is anticipated to grow at a CAGR of 6.90%, by generating a revenue of $223,633.70 thousand during the review period.
Port Wine Overview
Port wines have become a popular drink among millennial due to its high antioxidant content which helps to improve their health and wellbeing. Port wine is a fortified wine which is a native wine of Portugal. This type of wine is a sweet wine which is usually drank as a dessert wine. These wines are also a great choice for gifting to friends and relatives on various festivals such as Thanksgiving and Christmas.
COVID-19 Impact on the Global Port Wine Market
The occurrence of COVID-19 pandemic has declined the port wine market share growth. As the impact of COVID-19 pandemic has had a severe impact on the health and wellbeing of the people across the world, the demand and production of port wine has decreased unexpectedly. As wine is not considered an essential item, the wine manufacturing companies were completely shut down. Also, owing to high rate of corona virus transmission and prevalence of serious symptoms, worldwide restrictions and lockdowns were imposed due to which the supply of raw ingredients such as grapes to the industries and export of port wine to other regions were hampered. This factor has restricted the port wine market share growth in the pandemic period.
Increasing Demand for Premium Drinks to Surge the Market Growth
Rising awareness about the benefits of consuming port wine on health of the consumers is expected to drive the port wine market shares growth in the forecast time period. Port wines offer various health advantages like they help in weight loss, improve heart beat rate, help in anti-inflammation of stomach and develop strong mental health because they are made up of fruits like cocoa and grapes. Such factors are likely to speed up the growth of the port wine market size in the predicted time frame. Also, inclination of young generation towards premium drinks, both for consuming and gifting to friends & relatives is likely to flourish the port wine market share growth in the next few years.
To know more about global port wine market drivers, get in touch with our analysts here.
High Cost of Port Wines to Restrain the Market Growth
Port wines are very costly because of heavy excise duty imposed on it. This factor is likely to restrain the port wine market share growth in the predicted time period. Also, many communities do not regard wine as a good consumable drink and thus prefer to avoid consuming them. These factors are further anticipated to restrict port wine market share growth in the coming years.
Development of Product Portfolio by Major Companies to Fuel the Market Growth
Improvements in the existing port wine products and new product launches are expected to drive the port wine market share growth in future. Major market players in the port wine market have started focusing on developing and launching new products to meet the rising demand for flavorful port wines. Such factors are anticipated to drive the port wine market size growth in future.
To know more about global port wine market opportunities, get in touch with our analysts here.
Port Wine Market
Source: Research Dive Analysis
The tawny port wine sub-segment is predicted to have the highest revenue in the global market and register a revenue of $638,105.5 thousand during the forecast period. The growth is attributed to rising demand of people for premium drinks with intense flavor. Tawny wine offers nutty and fruity flavor which makes it a popular drink compared to other drinks. Also, tawny port wines are more preferred by people as a good gifting item to their friends and relatives on occasions like wedding and festivals. Such factors are anticipated to generate a huge revenue in the port wine market.
Port Wine Market
By Sales Channel
Source: Research Dive Analysis
The offline sub-segment is predicted to have the highest revenue in the global market and register a revenue of $932,127.8 thousand during the forecast period. The sub-segment is projected to show an impressive growth in future owing to large number of shopping stores all across the world. Offline segment includes supermarket /hypermarkets, retail shops, and convenience stores. These shopping places offer great satisfaction to the customers and provide them an opportunity to hand pick goods as per their choice. Also, people can instantly buy port wine of their choice on the spot. All these factors are likely to boost the market growth in the coming years.
Online sub-segment is anticipated to have the fastest market growth and the market shall generate a revenue from $93,714.7 thousand in 2028. The increase in the revenue of the sub-segment owes to preference of working professionals for online shopping by staying at one place. Online shopping offers great money saving deals and offers that easily attract the customers to shop online. Also, the customers can save their travel time by shopping online. These factors are likely to drive the port wine market size growth in future.
Port Wine Market
Source: Research Dive Analysis
The Market for Port Wine in Europe to be the Most Dominant
The Europe port wine market accounted $312,545.30 thousand in 2020 and is projected to register a revenue of $470,861.70 thousand by 2028. The growth is attributed to presence of major port wine producing and consuming countries like Portugal, Spain, and France. People in these countries are more inclined towards consumption of premium drinks because they are more health conscious and want intense flavored wine. Such factors are further anticipated to boost the market growth in the region.
The Market for Port Wine in Asia-Pacific to Observe the Fastest Growth
The Asia-Pacific port wine market accounted $133,853.80 thousand in 2020 and is projected to register a revenue of $223,633.70 thousand by 2028. The growth is attributed to presence of major port wine consuming countries like China and Japan. People in these countries are more inclined towards consumption of flavorful wine as it improves heart health.
Competitive Scenario in the Global Port Wine Market
Product launches and acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
The companies involved in the port wine market are Adriano Ramos Pinto, Calabria Family Wines, Davy & Co Limited, GrupoSogevinus Fine Wines, Precept Wine, Quevedo, Quinta do Crasto, Sula Vineyards, Symington Family Estates, and The Fladgate Partnership.
Porter’s Five Forces Analysis for the Global Port Wine Market
- Bargaining Power of Suppliers: The suppliers in the port wine market are increasing in number. Several companies are working on mass production of wine, product innovation, and development.
Thus, the bargaining power suppliers is moderate.
- Bargaining Power of Buyers: Buyers are high in number and have huge bargaining power, they demand best products at low prices. This increases the pressure on the manufacturing companies to offer the best products in a cost-effective way. Thus, buyers can freely choose the product that best fits their preference.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: New companies entering the port wine market are adopting new port wine product launches in the market in minimum time frame.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: Presence of different wines and alcoholic drinks in the market other than port wine is likely to shift the customer’s preference towards different products.
Thus, the threat of substitutes is high.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players. These companies are launching their new products in the international market and strengthening the footprint worldwide.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Type
Segmentation by Sales Channel
Key Companies Profiled
Q1. What country drinks the most port?
A. Portugal country in Europe drinks most port wine as it is manufactured in the region.
Q2. What is the most popular port wine?
A. Tawny wine is the most popular port wine as it is an aged wine.
Q3. What country is known for port wine?
A. Portugal is known for its port wine.
Q4. What is the growth rate of the global port wine market?
A. The port wine market is expected to grow at a CAGR of 6.0%.
Q5. What are the key industry trends of the global port wine market?
A. Port wine market is expected to flourish in future as many people demand for a flavorful and aged wine. Owing to this, key market players have increased their production rate for port wine which is likely to boost the market growth in future. However, high cost of port wine is likely to hinder the market growth.
Q6. What is the size of the global port wine market?
A. The global port wine market was valued at $659,378.2 thousand in 2020, and is projected to reach $1,025,842.5 thousand by 2028, registering a CAGR of 6.0%
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.3.Sales Channel trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.Port Wine Market, by Type
4.1.1.Key market trends, growth factors, and opportunities
4.1.2.Market size and forecast, by region, 2020-2028
4.1.3.Market share analysis, by country, 2020 & 2028
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country, 2020 & 2028
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2020-2028
4.3.3.Market share analysis, by country, 2020 & 2028
5.Port Wine Market, by Sales Channel
5.1.1.Key market trends, growth factors, and opportunities
5.1.2.Market size and forecast, by region, 2020-2028
5.1.3.Market share analysis, by country, 2020 & 2028
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country, 2020 & 2028
6.Port Wine Market, by Region
6.1.1.Key market trends, growth factors, and opportunities
6.1.2.Market size and forecast, by Type, 2020-2028
6.1.3.Market size and forecast, by Sales Channel, 2020-2028
6.1.4.Market size and forecast, by country, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Sales Channel, 2020-2028
184.108.40.206.Market size and forecast, by Type, 2020-2028
220.127.116.11.Market size and forecast, by Sales Channel, 2020-2028
18.104.22.168.Market size and forecast, by Type, 2020-2028
22.214.171.124.Market size and forecast, by Sales Channel, 2020-2028
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Type, 2020-2028
6.2.3.Market size and forecast, by Sales Channel, 2020-2028
6.2.4.Market size and forecast, by country, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Sales Channel, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Sales Channel, 2020-2028
22.214.171.124.Market size and forecast, by Type, 2020-2028
126.96.36.199.Market size and forecast, by Sales Channel, 2020-2028
188.8.131.52.Market size and forecast, by Type, 2020-2028
184.108.40.206.Market size and forecast, by Sales Channel, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Sales Channel, 2020-2028
6.2.10.Rest of Europe
22.214.171.124.Market size and forecast, by Type, 2020-2028
126.96.36.199.Market size and forecast, by Sales Channel, 2020-2028
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Type, 2020-2028
6.3.3.Market size and forecast, by Sales Channel, 2020-2028
6.3.4.Market size and forecast, by country, 2020-2028
188.8.131.52.Market size and forecast, by Type, 2020-2028
184.108.40.206.Market size and forecast, by Sales Channel, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Sales Channel, 2020-2028
22.214.171.124.Market size and forecast, by Type, 2020-2028
126.96.36.199.Market size and forecast, by Sales Channel, 2020-2028
188.8.131.52.Market size and forecast, by Type, 2020-2028
184.108.40.206.Market size and forecast, by Sales Channel, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Sales Channel, 2020-2028
6.3.10.Rest of Asia Pacific
22.214.171.124.Market size and forecast, by Type, 2020-2028
126.96.36.199.Market size and forecast, by Sales Channel, 2020-2028
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Type, 2020-2028
6.4.3.Market size and forecast, by Sales Channel, 2020-2028
6.4.4.Market size and forecast, by country, 2020-2028
188.8.131.52.Market size and forecast, by Type, 2020-2028
184.108.40.206.Market size and forecast, by Sales Channel, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Sales Channel, 2020-2028
22.214.171.124.Market size and forecast, by Type, 2020-2028
126.96.36.199.Market size and forecast, by Sales Channel, 2020-2028
7.1.The Service Master Company, LLC
7.1.2.Operating business segments
7.1.5.Key strategy moves and development
7.2.2.Operating business segments
7.2.5.Key strategy moves and development
7.3.Anago Cleaning Systems
7.3.2.Operating business segments
7.3.5.Key strategy moves and development
7.4.2.Operating business segments
7.4.5.Key strategy moves and development
7.5.2.Operating business segments
7.5.5.Key strategy moves and development
7.6.Stanley Steemer International, Inc.
7.6.2.Operating business segments
7.6.5.Key strategy moves and development
7.7.2.Operating business segments
7.7.5.Key strategy moves and development
7.8.Pritchard Industries Inc.
7.8.2.Operating business segments
7.8.5.Key strategy moves and development
7.9.2.Operating business segments
7.9.5.Key strategy moves and development
7.10.BONUS Building Care
7.10.2.Operating business segments
7.10.5.Key strategy moves and development
Port wine is made largely in the Douhro valley of Portugal and is a type of fortified dessert wine, due to its pleasant and sweat flavor. Ruby and Tawny are the two main types of port wines. Ruby wine is aged for maximum three years in steel or cement barrels and has a fruity flavor. Tawny port is aged in wooden barrels in small batches and has a complex dried fruit and nuts flavor. Many of the tawny ports fall under the premium category as they develop more textured taste owing to longer aging.
As compared to other type of wines, port wine contains fewer ingredients that are acidic. The growing awareness among people related to the importance of wine consumption in limited amounts to prevent heart diseases will be game-changer for the port wine market growth in the near future.
COVID-19 Impact on Port Wine Market
The outbreak of COVID-19 across the globe has negatively impacted the global port wine market growth. The global market suffered due to travel restrictions and disruption in demand and supply of raw materials across the globe. This is mainly because port wine is made from grapes which are mostly grown in Portugal and 80% of manufactured wine in the country is exported to rest of the world. Moreover, less demand for port wine among consumers and the ban on international trade during the pandemic period have unfavorably impacted the market growth.
Port Wine Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global port wine market growth in the upcoming years.
For instance, in January 2020, Symington Family Estates, the producers of some of the finest Ports across the world for five generations, aggressively invested in table wine and announced the announced the launch of Quinta da Fonte Souto, a new super-premium label in the U.S. via its Premium Port Wines subsidiary.
In January 2021, Precept Wine, the largest privately held producer of wine in the Pacific Northwest, completed the acquisition of the Fairbanks and Sheffield Cellars dessert wine portfolio from E. & J. Gallo Winery. With this acquisition Precept looks forward to continue to craft these wines in the time-honored tradition under the guidance of Hal Landvoigt, Precept's acclaimed winemaker.
In September 2021, The Calabria family announced the launch of the Calabria Family Wine Group, which signifies a new era for the Griffith-based family winery. The rapid growth of the company has significantly evolved following a year of noteworthy brand acquisitions, namely the McWilliam’s Wines brand & Hanwood Winery, along with La La Land Wines and Deakin Estate, cementing the company to become the largest family-owned wine groups in Australia.
Forecast Analysis of Global Market
The global port wine market is projected to witness an exponential growth over the forecast period, owing to the novel port wine product lunches and improvements in the existing products by several key market players. Conversely, the lack of knowledge among people about the beneficial health effects of consuming port wine and the high costs are expected to hamper the market growth in the projected timeframe.
The rising demand for premium drinks and the growing awareness about the benefits of consuming port wine on health among people worldwide are the significant factors and port wine market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global port wine market is expected to garner $1,025,842.50 thousand during the forecast period (2021-2028). Regionally, the Europe market is estimated to be most dominant by 2028, owing to the presence of major port wine consuming and producing countries like France, Spain, and Portugal.
The key players functioning in the global market include Adriano Ramos Pinto, Davy & Co Limited, Calabria Family Wines, GrupoSogevinus Fine Wines, Quevedo, Precept Wine, Quinta do Crasto, Symington Family Estates, Sula Vineyards, and The Fladgate Partnership.