Sparkling Wine Market to Reach US$ 55.80 billion, Globally, by 2028 at 4.3% CAGR: The Insight Partners Leave a comment
According to a new market research report “Sparkling Wine Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (White, Red, and Rose), Packaging Type (Bottles and Cans), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)” published by TheInsightPartners, the sparkling wine market size is projected to grow from US$ 41.64 billion in 2021 to US$ 55.80 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period.
In 2020, Europe accounted for the largest share of the sparkling wine market. The European Union (EU) has the largest concentration of sparkling wine producers. According to the Institute of Wine and Vine, the EU accounts for 70–80% share, by volume, of the global manufacturing of sparkling wine since 2000. According to industry experts, Europe exports a greater volume of sparkling wine than still wine in the international markets. The region has a long and illustrious history of winemaking. Wine lovers across the world prefer European sparkling wine owing to their unique flavors, tastes, and preparation methods. Moreover, increasing preference for less alcoholic beverages, growing influence of celebrities on the lifestyles of people, inclination toward convenience food and beverages, and the tradition of popping a bottle of Champagne or sparkling wine during festivities and celebrations, among others, justify the dramatic increase in demand for this category of wine. Europe has a highly established sparkling wine market, which consists of several prominent as well as small distillers.
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Significant vendors providing Sparkling Wine include:
Bacardi and Company Limited
Bronco Wine Co.
Casella
Constellation Brands, Inc.
Henkell Freixenet
Schramsberg Wineyards
Pernod Ricard Winemakers
The Sparkling Wine Co.
Treasury Wine Estates Ltd
Chandon
Market Insights
Increase in Popularity of Sparkling Wine
Rapid socioeconomic changes and fast-paced urbanization are bolstering the demand for sparkling wine. With continuous rise in living standards and buying power, customers desire to purchase high-quality, luxurious items. Moreover, their food habits and meal preferences change with these changes in lifestyle. Thus, the demand for sparkling wine in parties, marriages, and social gatherings is on rise. With the growing preference for drinks with low or no alcohol content, the popularity of this wine is increasing among millennials, teenagers, and working populations, and in bachelors and people living in hostels. Furthermore, the widespread use of social media and the Internet is significantly impacting all generations, while rise in number of parties and social events are contributing to the rise in consumption of sparkling wine globally, primarily in developed nations such as the US, Canada, Mexico, Germany, France, and Italy, thereby driving the sparkling wine market growth.
Type Insights
Based on type, the sparkling wine market is segmented into red, white, and rose. In 2020, the white segment accounted for the largest market share. White wine is made with Moscato Bianco grapes from Italy’s Piedmont wine region. Its production is primarily concentrated in Alba and the province of Asti in Northern Italy. The bubbles are caused by natural fermentation, which might occur in the bottle or a big tank. Fermentation occurs when sugar is added to wine and yeast acts on the sugar, generating carbon dioxide. Bubbles are formed in the wine as a result of the trapped carbon dioxide inside an enclosed environment.
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Sparkling Wine Market, by Type:
White
Red
Rose
Sparkling Wine Market, by Packaging Type:
Bottles
Cans
Sparkling Wine Market, by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Retail
Others
Report Spotlights:
Progressive industry trends in the global sparkling wine market to help players develop effective long-term strategies
Business growth strategies adopted by companies in developed and developing markets
Quantitative analysis of the global sparkling wine market from 2019 to 2028
Estimation of the demand for sparkling wine from consumers
PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
Recent developments to understand the competitive market scenario and the demand for sparkling wine
Market trends and outlook coupled with factors driving and restraining the growth of the sparkling wine market
Understanding on strategies that underpin commercial interest in the market, thus assisting in decision-making process for the market players
Key points from Table of Content:
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
3.2.8 Limitations and Assumptions:
4. Sparkling Wine Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Sparkling Wine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Popularity of Sparkling Wine
5.1.2 Surge in Number Of Wineries
5.2 Restraints:
5.2.1 Stringent Government Policies and Regulations
5.3 Opportunities:
5.3.1 Acceptance of Alcoholic Beverages in Developing Countries
5.4 Future Trends:
5.4.1 Innovations in Sparkling Wine Production
5.5 Impact Analysis of Drivers and Restraint
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