Global Vermouth Market Statistics: USD 19.5  Billion Value by 2032

Summary:

1. The global vermouth market  size reached USD 11.1 Billion in 2023.

2. The market is expected to reach USD 19.5  Billion by 2032, exhibiting a growth rate (CAGR) of 6.48% during 2024-2032.

3. Europe leads the market, accounting for the largest vermouth market  share.

4. Sweet vermouth is the most popular vermouth because it can be used with many different types of alcohol and mixers.

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

6. The growing demand for vermouth due to the increasing health consciousness among consumers is offering a positive market outlook.

7. The escalating demand for vermouth on account of the rising demand for premium products is propelling the growth of the market

Industry Trends and Drivers:

1. 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.

1. 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.

1. 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.   

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Vermouth Market Report Segmentation:

By Product:

1. Dry Vermouth

2. Sweet Vermouth

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

By Distribution Channel:

1. Off-Trade

2. On-Trade
    

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

Regional Insights:

1. North America (United States, Canada)

2. Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

3. Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

4. Latin America (Brazil, Mexico, Others)

5. Middle East and Africa

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

Top Vermouth Market Leaders:

The vermouth market  research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

1. Atsby Vermouth

2. Bacardi Limited

3. Bodegas Martinez Lacuesta La Rioja Haro

4. Branca International S.p.A.

5. Contratto

6. Davide Campari-Milano N.V. (Lagfin S.C.A.)

7. Giulio Cocchi Spumanti Srl

8. La Quintinye Vermouth Royal

9. Quady Wines, Ransom Spirits

10. Uncouth Vermouth, 

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