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The vermouth market size has the potential to grow by USD 445.21 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (sweet and blanc vermouth and dry vermouth), distribution channel (on-trade and off-trade), and geography (Europe, North America, APAC, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Bacardi-Martini BV, BODEGAS MARTINEZ LACUESTA SA, Contratto srl, Davide Campari-Milano Spa, Fratelli Branca Distillerie SRL, Giulio Cocchi Spumanti Srl, Hotaling & Co. LLC, Intrepid Spirits Ltd., Quady Wines, and Rhys & Rylee LLC.
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The market is fragmented. The key players are following integrated marketing communication, using newspapers, magazines, and social media to increase the popularity of their existing and new offerings. Since vermouth is growing at a faster rate, players are launching various campaigns,? says a senior research analyst at Technavio for the alcoholic beverages industry. Bacardi-Martini BV, BODEGAS MARTINEZ LACUESTA SA, and Contratto srl are some of the major market participants. Although the emergence of low-ABV cocktails will offer immense growth opportunities, the lower awareness of vermouth and lack of standardized quality definition will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this vermouth market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this vermouth market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
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Europe was the largest vermouth market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increased consumption of alcoholic beverages, such as wines and beers, by women will significantly drive vermouth market growth in this region over the forecast period.
56% of the market's growth will originate from Europe during the forecast period. France, Italy, and Spain are the key markets for vermouth in Europe. Market growth in this region will be slower than the growth of the market in APAC.
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Sweet vermouth variety is also known as red, Rosso, or Rojo. It is sweeter, richer, and more robust than white vermouth. Traditionally, this variety was made with a red wine base, but at present, it is commonly made with a white wine base. This wine is fortified with high proof alcohol (most commonly an unaged brandy), infused with botanicals, and sweetened with up to 15% sugar. Whereas, blanc vermouth is not completely dry like dry vermouth or as fully sweetened as sweet vermouth. Thus, it lies between the two varieties. Therefore, the increasing consumption of premium varieties of alcoholic beverages is expected to drive the growth of this segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vermouth market size.
Low-alcohol beverages are driving the global alcohol drink market as consumers have become more health-conscious. Many consumers are substituting hard drinks with light drinks. They also read the nutritional labels and demand products that contain lower alcohol content. Vermouth, an excellent carrier of flavor, is often used by bartenders and home drinkers to bring flavor and depth to a drink without using high ABV spirits or mixing them with fruit juices. Thus, the emergence of cocktails based on vermouth is helping the global vermouth market grow at a fast pace. Moreover, vermouth is usually used in classic cocktails. Currently, vermouth is increasingly being used in modern craft cocktails. Thus, the emergence of low-ABV cocktails along with the rising use of vermouth as an ingredient in cocktails is expected to drive the growth of the global vermouth market during the forecast period.
The growing demand for premium vermouth is one of the key vermouth market trends influencing the growth of the market. The market is expected to grow at a CAGR of over 1% during 2020-2024. With the turnaround of the global economy, disposable income has increased, thereby increasing the demand for premium products. Most consumers perceive that premium products make use of high-quality ingredients. Hence, the quality of such products is deemed higher than regular products. To cater to this demand for premium products, most well-established players in this space are focusing on offering premium products. Thus, the growing demand for premium vermouth led to an increasing number of vendors offering premium vermouth ranges to attract consumers. This, in turn, is expected to drive the growth of the global vermouth market during the forecast period.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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