The latest report by IMARC Group, titled “Vermouth Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global vermouth market size reached US$ 10.36 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.01 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
Vermouth is an aromatized and fortified wine that is flavored with a variety of botanicals, including herbs, spices, and aromatic roots. It is known for its distinctive herbal and often slightly bitter taste, which makes it a popular ingredient in cocktails and aperitifs. The primary base for vermouth is typically a white or red wine, which is then fortified with a neutral grape spirit or brandy to increase its alcohol content. After fortification, the wine is infused with a blend of botanicals, which can include ingredients like wormwood, coriander, cloves, and citrus peels. The exact combination of botanicals and their proportions can vary between different vermouth brands and styles. This wine comes in various styles, with the two most common being sweet (red) vermouth and dry (white) vermouth. At present, vermouth finds extensive applications in mixology across the globe, enhancing the flavors of a wide range of cocktails and aperitifs.
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Vermouth Market Trends and Drivers:
The global vermouth market is primarily driven by the shifting trend toward cocktail culture and mixology, with vermouth being a crucial ingredient in classic cocktails like the Martini and Negroni. Additionally, the increasing preference for low-alcohol and aperitif-style drinks that align with vermouth’s characteristics, making it a popular choice among health-conscious consumers, is positively influencing market growth. Apart from this, the rising adoption of vermouth as a versatile ingredient in culinary applications, such as marinades and sauces, is another major growth-inducing factor. Moreover, the introduction of flavored and craft vermouths, appealing to a diverse range of palates, has catalyzed market growth. Besides this, the rising popularity of vermouth-based cocktails in the on-premises and home mixology scenes is positively influencing market growth. Furthermore, the increasing interest in exploring different flavors and aperitifs as a part of the culinary experience and effective marketing and consumer education is contributing to market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Dry Vermouth
- Sweet Vermouth
Distribution Channel Insights:
- Off-Trade
- On-Trade
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Atsby Vermouth
- Bacardi Limited
- Bodegas Martinez Lacuesta La Rioja Haro
- Branca International S.p.A.
- Contratto
- Davide Campari-Milano N.V. (Lagfin S.C.A.)
- Giulio Cocchi Spumanti Srl
- La Quintinye Vermouth Royal
- Quady Wines
- Ransom Spirits
- Uncouth Vermouth
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