Global Vermouth Market - 2022-2029

Global Vermouth Market - 2022-2029

Market Overview

The global vermouth market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).

Vermouth is an enriched wine with less alcohol than traditional drinks. It is aromatized with herbs and occasionally used in blended drinks. Vermouth contains 19 percentage of alcohol and 9 percentage of sugar. Vermouth is a fortified wine that is often colored and flavored with various botanicals. Vermouth is widely used in various end-use industries such as the hotel and food and beverages industries. Vermouth is categorized into two types such as dry vermouth and sweet vermouth. The base wine of vermouth is fortified with mistelle. Mistelle is unfermented grape juice and brandy mixed in the ratio of one part of brandy and four parts of grape juice.

Market Dynamics:

Consumer preference towards low-alcoholic beverages boosts the vermouth market

Increased consumer preferences for health and wellness, affects the consumption of low and non-alcohol beverages positively. As per the Analysis of British Survey Data, 2015–2018, younger and more socio-economically advantaged households and respondents were more likely to purchase and consume zero alcohol beer. The health benefits such as richness in antioxidants, support for heart health, and protection against chronic diseases have amplified the consumption of vermouth wine. It refers to a dense wine-based sipping treat consumed after or before dinner. For instance, in cocktail making, fortified wines such as port and vermouth have been more frequently used in the last few years since they keep alcohol levels down.

Moreover, the market observes a reviving interest in vermouth due to customers' high expectations regarding taste and demand for sophisticated flavors. Its universal aromatic flavor profile makes it ideal for the expanding cocktail culture. Moreover, the growing demand for fortified wine flavors boosts the vermouth market. Major manufacturing companies are creating new flavors for fortified wines to meet the needs of customers. Customer taste changes rapidly, and there is a great demand for new flavors of wines.

However, governments' high taxation and regulatory restrictions may provide a significant challenge to the market's growth rate. Moreover, the easy availability of product alternatives coupled with the large consumption of craft beers may hamper the growth possibility of the vermouth industry.

Market Segmentation:

The sweet vermouth segment held the highest market revenue share of xx% in the year 2021

Based on product type, the sweet vermouth segment held the highest market revenue share of xx% in 2021. Owing to its sweet taste and low-alcohol content, young people and adults are finding it among the greatest alternatives for hard drinks such as gin and other spirits. It is considered one of the most traditionally acceptable alcoholic beverages in Spain. Sweet vermouth makes an excellent aperitif. The age-old spirits like bourbon or rye, scotch, and dark rum go well with sweet vermouth. The Manhattan, Negroni and Rob Roy are among the popular cocktails that use sweet vermouth. Some of the famous bottles of sweet vermouth are Carpano Antica Formula, Carpano Punt e Mes, Contratto Vermouth Rosso, and Cocchi Vermouth di Torino.

Based on the distribution channel, the offline segment is anticipated to grow at the highest in the vermouth market during the forecast period because of the high product sales across pubs, nightclubs, bars, hotels, restaurants and cafes. Major pubs and bars expand their business unit on a customer base. For instance, as per The British Beer and Pub Association, in 2019, there were 47,200 pubs in the UK.

Based on packaging, the glass bottle packaging segment is expected to contribute to the vermouth market during the forecast period significantly. Glass bottle packaging is more widely used for wine than plastic because wine tradition still means much. Most people believe that the wine they drink should be in a stem-shaped glass and come from a corked bottle. Moreover, glass bottles do a good job of protecting wine, whether they are sealed with a cork or a screw cap or a synthetic stopper.

Geographical Penetration:

Europe is dominating the global vermouth market in the year 2021

The Europe region is the largest market in the vermouth market, accounting for xx% share of market revenue in 2021, owing to significant consumption of vermouth across the region. France, Spain, and Italy are the world's largest vermouth consumers. Consumers' changing lifestyles, the impact of social media, and the growing entertainment trend at clubs and lounges are the factors for boosting the vermouth market in this region. In North America, the vermouth market is expected to develop at the fastest higher during the forecast period. The increasing demand for flavored alcoholic beverages such as cocktails in the United States has fueled the growth of the vermouth market in this region. Moreover, increased disposable earnings and changing lifestyles are some of the primary drivers boosting the vermouth market

Competitive Landscape:

Some key players operating in the vermouth market are Bacardi Limited, The Vermouth Company, Fratelli Branca Distillerie SRL, Campari Group, E & J Gallo Winery, Contratto, Atsby Vermouth, William Grant & Sons Ltd, Mancino Vermouth, and Cinzano, among others. Key players in the global market focus on strategic investments in research and development to develop new products, particularly with natural and organic formulations, which play a key function in expanding their growth in terms of market revenue. For instance, in April 2021, Bacardi India launched Martini Fiero, the newest innovation from Martini, to modernize vermouth for a new generation. In June 2019, Trinchero Family Estates launched New Trincheri Vermouth, a line of dry and sweet vermouths which are an ode to the family's namesake and based on a 120-year-old family recipe. In May 2022, Campari Canada launched Classic Century-Old Negroni Cocktail with Ready to Enjoy Version, which is defining ingredient, with London dry gin and Cinzano sweet red vermouth.

Covid-19 impact:

Positive impact on the global vermouth market

Different analysis studies have provided insight into the impact of COVID on the studied market that provides insight into the increased consumption of alcohol during the pandemic. For instance, as per National Center for Drug Abuse Statistics, 60% of people increased their alcohol consumption during COVID-19 lockdowns. Moreover, online liquor sales rose 262% year-over-year in the first 3 weeks of March 2020, coinciding with most state-wide lockdowns. Consumers chose to drink low alcoholic drinks instead of the high content alcohol during the pandemic. So, the consumption of soft alcohol-based drinks increased during the pandemic. Hence, the vermouth market increased during the pandemic.

Why Purchase the Report?

Understand the current market scenario and viability of global vermouth market over the forecast period

Visualize the composition of the global vermouth market in terms of type, packaging, application, and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global vermouth market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global vermouth market report would provide an access to approximately 69 market data tables, 59 figures, and 180 pages

Target Audience:

Alcoholic Beverages Manufacturers

Wine Manufacturers

Packaging Companies

Education & Research Institutes

Research Professionals