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. rising premiumization, the launch of low alcohol content variants, and extensive research and development (R&D) activities represent some of the key factors driving the market.
|Market Size in 2022
||US$ 10.36 Billion
|Market Forecast in 2028
||US$ 16.01 Billion
|Market Growth Rate (2023-2028)
Vermouth is a fortified wine that is flavored with various botanicals, including herbs, spices, and roots. It is aromatized with botanicals like licorice root, cinchona bark, rosemary, thyme, blessed thistle, extracts of wormwood, and cascarilla. It typically has a slightly bitter taste and is often used as an ingredient in cocktails, such as the Martini and the Manhattan iced tea. Vermouth is also used as a cooking ingredient added to sauces, stews, and marmalade and as flavoring for risotto, mussels, and seafood dishes. It exhibits antioxidant properties that help to protect the body against damage from free radicals. Besides this, moderate consumption of vermouth also aids in digestion, reducing stress and anxiety, and improving heart health.
Vermouth Market Trends:
The rising consumption of wine due to the emerging trends of social drinking across the globe is one of the primary factors creating a positive outlook for the market. Vermouth is a popular alcoholic beverage widely consumed during celebrations and often mixed into cocktails, making it a popular choice for social gatherings. In line with this, the increasing product utilization in dietary culture as an aperitif consumed before a meal to stimulate the appetite is favoring the market growth. Additionally, the rising demand for sweet vermouth among millennials owing to its sweet taste and low-alcohol content is acting as another growth-inducing factor. Apart from this, vermouth producers are now using organic and sustainably sourced botanicals to create products due to the growing demand for organic and natural products, which in turn is providing an impetus to the market growth. Moreover, shifting consumer preferences toward wines and types of cocktails over traditional alcoholic beverages, including gin and brandy, is propelling the market growth. Furthermore, the introduction of new flavors using unique botanicals and ingredients to create distinctive and complex flavors, such as elderflower, fig, and saffron, is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, easy product availability across various e-commerce platforms, extensive research and development (R&D) activities, widespread adoption owing to its numerous advantages, rising premiumization, the launch of low alcohol content variants, and widespread adoption in the hospitality sector are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global vermouth market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on product, and distribution channel.
- Dry Vermouth
- Sweet Vermouth
The report has provided a detailed breakup and analysis of the vermouth market based on the product. This includes dry and sweet vermouth. According to the report, sweet vermouth represented the largest segment.
Distribution Channel Insights:
A detailed breakup and analysis of the vermouth market based on the distribution channel has also been provided in the report. This includes off-trade and on-trade. According to the report, off-trade accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for vermouth. Some of the factors driving the Europe vermouth market included extensive research and development (R&D) activities, rising expenditure capacities of consumers, and widespread product adoption in the hospitality sector.
The report has also provided a comprehensive analysis of the competitive landscape in the global vermouth market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Vermouth Market Report Scope:
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: ·
- Distribution Channel
||Dry Vermouth, Sweet Vermouth
|Distribution Channels Covered
||North America, Europe, Asia Pacific, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global vermouth market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global vermouth market?
- What is the impact of each driver, restraint, and opportunity on the global vermouth market?
- What are the key regional markets?
- Which countries represent the most attractive vermouth market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the vermouth market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the vermouth market?
- What is the competitive structure of the global vermouth market?
- Who are the key players/companies in the global vermouth market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the vermouth market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global vermouth market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the vermouth industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.