The global sparkling wines market size was valued at $33.9 billion in 2019, and is anticipated to reach $51.7 billion by 2027, growing at a CAGR of 7.3% during the forecast period. Sparkling wines is a fermented carbonated beverage made with grapes and other fruits. The fermentation process results in the production of alcohol and CO2. During the fermentation process, the gas is not allowed to escape, and thus forms tiny bubbles. This carbonation of wine takes place either in bottles or large tanks. Carbonation can also result from CO2 injected into a few varieties of wines.
Rise in number of consumers suffering from alcohol addiction has been a great concern for governments of different nations. As a result, many governments have imposed stringent rules & regulations on the sales and distribution of these products. Moreover, there are restrictions on advertisements and promotions of such products, which restrict the marketing strategies available to the manufacturers. In addition, some governments also support campaigns and non-government organizations (NGO) that condemn the use of such beverages. These factors act as major hindrances for the market growth.
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As the living standards are increasing globally, the aspiration of consumers to consume premium quality luxury products is also expected to grow. The consumption of these products is often associated with occasions such as celebrations. Furthermore, product dependency of these products at marriages, parties, and social gatherings is anticipated to drive the market growth in the coming years. Moreover, the luxury segment experienced considerable growth across most regions in 2019, driven primarily by robust consumption. Luxury brands have started to develop accurate social media strategies to engage tech-savvy young consumers that seek greater value for money, more personalization, and integrated digital access. Therefore, there has been increase in the number of netizens along with rise in internet penetration.
According to the sparkling wines market analysis, the market is segmented on the basis of type, product, price point, sales channel, and region. Based on type, the sparkling wines market is categorized into red, rose, and white. Red wine is the most consumed wine, and holds the major market share in the global sparkling wines market. Europe has a long tradition of red wine consumption, which has made it simpler for the market to penetrate more. Moreover, the presence of vineyards in European countries producing all varieties of red wine has its impact on the regional red wine market.
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On the basis of product, it is categorized into cava, champagne, cremant, prosecco, and others. The prosecco segment was valued at $12.1 billion in 2019 and is expected to growth at a CAGR of 6.8% during the forecast period. The segment is expected to reach $17.8 billion by 2027. Attributed to increase in disposable income and aspiration of consumers toward experiential luxury, the market is expected to grow significantly in the coming years.
On the basis of sales channel, the supermarket/hypermarket segment dominated the market in 2019, accounting for 52.8% of the market share, and is expected to retain its dominance over the sparkling wines market forecast period. This is attributed to increase in business of retail sales in different regions and availability of large shelf space for maximum sales.
Region-wise, Europe was the prominent market in 2019, garnering maximum market share. The major countries of the region, such as Italy, Spain, and France, held half of the production of wine across the globe. Therefore, the positive economic prospects of Europe seem sufficient for a rise in aspirations among urban consumers with higher disposable income to invest in luxury products. However, the market is expected to provide attractive profitable opportunities to the manufacturers.
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Key benefits for stakeholders
The report provides quantitative analysis of the current sparkling wines market trends, estimations, and dynamics of the market from 2019 to 2027 to identify the prevailing market sparkling wines market opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size & segmentation assist to determine the market potential.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players in the sparkling wines industry.
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The key players profiled in this report include Accolade Wines Australia Limited, Bronco Wine Company, Casella Family Brands, Caviro Extra S.P.A, Constellation Brands, E. & J. Gallo Winery, Pernod Ricard, The Wine Group, Treasury Wine Estates, and Vina Concha Y Toro SA.
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