Market Estimation & Definition
The Vermouth Industry was valued at USD 12.36 billion in 2023 and is expected to reach USD 21.89 billion by 2030, growing at a steady CAGR of 8.5% during the forecast period. Vermouth is a fortified, aromatized wine made by infusing various botanicals such as herbs, spices, roots, and barks. Typically containing between 17–19% alcohol and 7–9% sugar, vermouth is widely appreciated as an aperitif and as a crucial component in a range of classic and modern cocktails.
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.
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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.
Market Growth Drivers & Opportunities
Several factors are contributing to the strong growth outlook of the vermouth market:
- Evolving Consumer Preferences: There’s a noticeable shift towards drinks with lower alcohol content, especially among younger consumers in urban settings. Vermouth, with its moderate alcohol level and complex flavors, is meeting this growing demand.
- Flavored Innovations: Rising consumer interest in unique, exotic, and regional flavors has spurred innovation among producers. This includes the development of vermouths featuring fresh botanicals, spices, and new flavor infusions.
- Increased Disposable Income: With rising disposable incomes, particularly in emerging markets, consumers are becoming more inclined to explore premium, niche alcoholic beverages, including artisanal and craft vermouth.
- Wider Distribution Networks: Growth in modern retail outlets, supermarkets, hypermarkets, and online sales platforms has made vermouth more widely available to consumers, enhancing market penetration globally.
Segmentation Analysis
The vermouth market is segmented based on product type, packaging, end-users, and distribution channels:
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
The on-trade segment is anticipated to expand at the highest CAGR, close to 11%, driven by vermouth’s growing popularity in cocktail bars, lounges, and upscale restaurants.
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Regional Insights:
Europe is the second-largest market for vermouth in 2023 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.
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.
Competitor Analysis
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
Press Release Conclusion
The global vermouth market is poised for robust growth, propelled by shifting consumer preferences toward lower-alcohol, premium, and botanically rich beverages. Rising disposable incomes, expanding modern trade networks, and the booming mixology trend are expected to further fuel market demand. Stakeholders and industry players can leverage emerging trends like premiumization, sustainability, and craft flavor innovations to gain competitive advantages and tap into new market opportunities in the years ahead.
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