Sparkling Wine Market is Flourishing at a CAGR of 4.3% and Expected to Reach US$ 55.80 billion by 2028

Sparkling wine is a variant of wine with a high carbon dioxide content, which adds additional bubbling to it. Champagne is one of the most widely popular types of sparkling wine. It is the wine manufactured in the Champagne region in France; however, many sparkling winemakers in the US use this name for their locally manufactured products.

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The sparkling wine market was valued at US$ 41.64 billion in 2021 and is projected to reach US$ 55.80 billion by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.

Bacardi & Company Limited; Bronco Wine Co.; Casella; Constellation Brands, Inc.; Henkell Freixenet; Chandon; Schramsberg Wineyards; Pernod Ricard Winemakers; The Sparkling Wine Co.; Treasury Wine Estates Ltd; Bottega Spa; Campari Group; and Codorniu are among the key players in the sparkling wine market.

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.

Sparkling winemakers have been significantly affected by the scarce availability of workers during the COVID-19 pandemic, which hampered their production capacity. In addition, the shutdown of wholesale markets has compelled manufacturers to rely primarily on supermarkets and e-commerce dealers to sell their sparkling wine products. Despite the pandemic, there has been a rise in the sales of rose and sparkling wine.

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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.

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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.

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
Sparkling wine market size at various nodes of market
Detailed overview and segmentation of the global sparkling wine market, as well as its industry dynamics
Sparkling wine market size in various regions with promising growth opportunities

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This release was published on openPR.