Vermouth Market Share, Size, Growth, Trends And Forecast 2024-2032

(MENAFN- IMARC Group) IMARC Group's report titled“ Vermouth Market Report by Product (Dry Vermouth, Sweet Vermouth), Distribution Channel (Off-Trade, On-Trade), and Region 2024-2032 “, The global vermouth
size reached US$ 11.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.48% during 2024-2032.

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Factors Affecting the Growth of the Vermouth Industry:

  • Rising Health Consciousness:

The growing demand for vermouth due to the increasing health consciousness among consumers is offering a positive market outlook. In addition, rising preferences for low-alcohol and -calorie beverage options are impelling the growth of the market. Besides this, vermouth has lower alcohol content as compared to traditional spirits and appeals to health-conscious consumers seeking lighter drinking alternatives. Additionally, vermouth has botanical ingredients and herbal infusions that contribute to its health benefits, aligning with the growing interest in natural and functional ingredients.

  • Increasing Demand for Premium Products:

The escalating demand for vermouth on account of the rising demand for premium products is propelling the growth of the market. In line with this, consumers are increasingly willing to invest in high-quality and artisanal vermouths that are made from natural ingredients. This is leading to the introduction of vermouth brands that offer unique flavor profiles and distinctive production methods. Apart from this, consumers are prioritizing quality over quantity and preferring products that offer unique tastes experience to individuals.

  • Culinary Trends:

The rising utilization of vermouth in various culinary applications is supporting the growth of the market. Chefs and home cooks are exploring its versatility in cooking, ranging from sauces and marinades to glazes and desserts. Apart from this, vermouth adds enhanced flavor to a wide range of dishes. This culinary experimentation assists in expanding vermouth appeal beyond the bar, attracting consumers who appreciate its role in enhancing both savory and sweet recipes. Furthermore, the increasing consumption of cafes, hotels, bars, and clubs across the globe is strengthening the market growth.

Leading Companies Operating in the Global Vermouth Industry:

  • 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

Vermouth Market Report Segmentation:

By Product:

  • Dry Vermouth
  • Sweet Vermouth

Sweet vermouth represents the largest segment as it can complement a wide range of spirits and mixers.

By Distribution Channel:

  • Off-Trade
  • On-Trade

Off-trade holds the biggest market share due to the rising focus on enhanced convenience among individuals.

Regional Insights:

  • 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

Europe enjoys a leading position in the vermouth market, which can be attributed to changing preferences of individuals.

Global Vermouth Market Trends:

Consumers are seeking sophisticated and diverse drinking experiences, such as classic cocktails, which prominently feature vermouth. In addition, vermouth has a versatile flavor profile and can enhance a wide range of cocktails.

Apart from this, effective marketing and branding strategies play a crucial role in driving vermouth sales. Companies are investing in creative marketing campaigns, storytelling, and brand differentiation to capture the attention of individuals and build loyalty in a competitive market. Moreover, there is an increase in concerns for sustainability and environmental impact, which enables consumers to seek out brands that prioritize sustainable sourcing, production methods, and packaging.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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