Vermouth Market : Global Industry Analysis And Forecast (2023-2029)

The Vermouth Market size was valued at US$ 11.40 Billion in 2022 and the total Vermouth revenue is expected to grow at 8.5% through 2023 to 2029, reaching nearly US$ 20.18 Billion.
Vermouth Market Overview:
Global Vermouth is a dry or sweet aperitif wine that contains less alcohol than traditional cocktails, is aromatized with herbs, and is occasionally used in blended drinks. Vermouth contains 17 -19 % alcohol and 7-9 percent % sugar. Vermouth is a fortified wine that is often colored and flavored with a variety of botanicals (flowers, seeds, spices, roots, barks, and herbs). They're widely used in a variety of end-use industries such as the hotel and food and beverages industries.

In France, sweet vermouth with 15% alcohol is considered the best drink. In Europe, particularly in Germany, France, and Italy, the vermouth market has grown owing to the preference of many individuals for alcoholic beverages. The increasing popularity of alcoholic drinks among consumers as a result of changing lifestyles and preferences such as health consciousness and stress tolerance is a major factor driving the market's growth.To know about the Research Methodology :- Request Free Sample Report

In this report, the Hot Beverages market's growth reasons and the market's many segments (Product Type, End-users, distribution channel, and Region) are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the wiring duct market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Vermouth market situation.
Vermouth Market Dynamics:
Growing demand for beverages with a low alcohol content by millennials and adults in pubs and restaurants is expected to boost market growth during the forecast period. Also, the increasing popularity among millennials of fortified and aromatized wines is expected to fuel the vermouth market growth in the coming years.

The increased demand for fresh flavors in fortified wines is a major driving factor for the global vermouth market. To meet increased customer demand, market players are developing new flavors for fortified wines. Consumers' taste preferences are increasingly changing, and demand for new and exotic flavors in fortified wines is growing at a higher rate.

Growing disposable income and increasing popularity for premium products are the key drivers for the growth of the Vermouth market during the forecast period. increasing demand for new flavors of fortified wines and the burgeoning demand for new flavors of fortified wines are other major factors of vermouth market growth. Furthermore, the market's most established players are focusing on developing new premium items, which are expected to boost the market's overall growth. On the other hand, the availability of alternatives coupled with the large consumption of craft beers is expected to hamper the market's growth during the forecast period.

The constant innovation of flavors by various well-established companies, as well as product premiumization, will provide the vermouth market with a variety of profitable opportunities. On the other hand, High taxes and regulatory restrictions by governments may provide a significant challenge to the market's growth rate.

The number of people using vermouth in Spain from 2023 to 2029 :

This statistic shows the frequency of vermouth consumption in Spain between 2023 and 2029. It is estimated about 2.3 million people in Spain were 'heavy' vermouth users in 2022.
Vermouth Market Segment Analysis:

By Product Type, sweet vermouth is the most popular product segment in the vermouth market. In 2022, the segment accounted for more than 43.5% of total revenue in 2022, and it is likely to maintain its dominance over the forecast period. Owing to sweet taste and low-alcohol content, young people and adults both are finding it to be among the greatest alternatives for hard drinks such as gin and other spirits. It is considered one of the most culturally acceptable alcoholic beverages in Spain.

By Packaging, the glass bottles segment held the largest market share of around 82% in 2022 because tradition still matters when it comes to wine. Most people believe that wine should be served in a stem-shaped glass and that it should come from a corked bottle. Glass bottles, whether sealed with a cork or a screw cap, do an excellent job of protecting the wine.



By Distribution Channel, the on-trade segment is expected to grow at the highest CAGR of around 11.0% during the forecast period owing to the high product sales across pubs, nightclubs, bars, hotels, restaurants, and cafés (HoReCa). The off-trade segment is expected to be driven by rising consumer preference for vermouth as an appetizer and rising adoption of an off-trade distribution channel to purchase the wine during the forecast period.

By Distribution channel, the supermarket & hypermarket segments accounted for the highest share in the Vermouth market in 2022. Supermarkets allow people to discover new products with varieties. Hence, this factor is expected to fuel the Vermouth market. The online segment is anticipated to grow at a faster rate during the forecast period owing to the rising convenience for consumers to buy products from different websites.
Regional Insights:
Europe is the second-largest market for vermouth in 2022 accounting for more than 50.0 % of sales owing to substantial consumption of Vermouth across the region. Spain, France, and Italy are the world's largest vermouth consumers. consumers' changing lifestyles, the influence of social media, and the growing trend of entertainment at clubs and lounges are the factors for the growth of Vermouth Market in this region.

In North America, the vermouth market is expected to develop at the fastest CAGR during the forecast period. The increasing demand for flavored alcoholic beverages such as cocktails in the United States has fuelled the growth of the Vermouth Market in this region. Furthermore, increased disposable income, as well as changing lifestyles, are some of the primary drivers boosting this market's rise in nations such as Canada and Mexico.

The objective of the report is to present a comprehensive analysis of the Vermouth Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Vermouth Market dynamics, structure by analyzing the market segments and projecting the Vermouth Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Vermouth Market make the report investor’s guide.
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Vermouth Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 11.40 Bn.


Forecast Period 2023 to 2029 CAGR:
8.5 %
Market Size in 2029:
US $ 20.18 Bn.


 Segments Covered:
by Product Type
Dry Vermouth
Sweet Vermouth


by Packaging
Plastic Bottles
Glass Bottles
Others


by end-users
Horeca
Beverage Industry
Food Industry


by Distribution channel
On-Trade
Off-Trade



Vermouth Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.Atsby Vermouth
2.Bacardi Limited
3.Belsazar
4.Branca International S.p.A.
5.Cinzano
6.Contratto
7.Distillerie des Alpes
8.E.and J. Gallo Winery
9.F.LLI GANCIA & C. SpA - CANELLI (Asti – ITALY)
10.FRATELLI BRANCA DISTILLERIE SRL(Carpano)
11.Giulio CocchiSpumantiSrl
12.Imbue
13.LA QUINTINYE VERMOUTH ROYAL
14.Lo-Fi Aperitifs
15.Lustau
16.MAiDENii
17.MANCINO VERMOUTH
18.MARTINEZ LACUESTA
19.MARTINI
20.Napa, CA.
21.Noilly Prat
22.Quady Wines
23.Ransom
24.Regal Rogue
25. RISERVA CARLO ALBERTO
26.sutton cellars
27.UNCOUTH VERMOUTH

FAQs:

1. What is the key driver of the Vermouth Market?
Ans. Growing demand for beverages with a low alcohol content by millennials and adults in pubs and restaurants is expected to boost market growth during the forecast period.

2. What is the restraint in the Vermouth Market during the forecast period?
Ans. The availability of alternatives coupled with the large consumption of craft beers is expected to hamper the market's growth during the forecast period.

3. What is the projected market size & growth rate of the Vermouth Market?
Ans. Vermouth's Market size was valued at US$ 11.40 Billion in 2022 and the total Vermouth revenue is expected to grow at 8.5% through 2023 to 2029, reaching nearly US$ 20.18 Billion.

4. What segments are covered in the Vermouth Market report?
Ans. The segments covered are Product Type, End-users, distribution channel, and Region