The sparkling wine market worth USD 51.7 billion, globally, by 2027 at a CAGR of 7.3%

Sparkling wine market

Rising acceptance of wine and spirits consumption and soaring popularity of vintage wines for special occasions is expected to drive the market growth

POTLAND, UNITED STATES, Aug. 24, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Sparkling Wine Market by Type, Product, Price and Sales Channel: Opportunity Analysis and Market Forecast industry, 2021-2027”,

The global sparkling wine market size was valued at USD 33.9 billion in 2019 and is projected to reach USD 51.7 billion by 2027, growing at a CAGR of 7.3% during the period. forecast. The market is expected to present an additional revenue opportunity of $17.8 billion from 2019 to 2027. Sparkling wine is a fermented carbonated beverage made from grapes and other fruits. The fermentation process results in the production of alcohol and CO2. During the fermentation process, the gas cannot escape and thus forms tiny bubbles. This carbonation of the wine takes place either in bottles or in large vats. Carbonation can also result from injected CO2 in some wine varieties.

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Sparkling wine is one of the most popular consumer favorite alcoholic beverages due to its aroma, taste, quality and reasonable price. Additionally, global developments, triggered by megatrends, such as urbanization, increasing disposable income and rapidly aging populations, are indirectly creating demand for sparkling wine, which in turn is supporting the growth of the number of wineries.

The rapid pace of global urbanization has led to increased demand for luxury goods and services, especially in developing economies such as LAMEA and Asia-Pacific. As these products are seen as status symbols, they are gaining adoption in these countries, providing manufacturers with exciting opportunities to distribute and sell their products in these locations. Additionally, international events, such as film festivals, art exhibitions, auctions, and award shows, have increased the demand for sparkling wines at these social gatherings.

The major players in the sparkling wine market are investing in R&D to improve wine quality and gain a competitive advantage over other market players. However, strict government policies on sparkling wine advertising and distribution are hampering the growth of the sparkling wine market.

The consumption of sparkling wines is booming worldwide, representing 10% of total wine sales. In recent years, the sale of sparkling wines has increased to reach 2.5 billion liters of consumption each year. Germany was the world champion in sparkling wine consumption, with more than 5 liters per capita and a role as a major distributor of sparkling wines from the traditional wine regions of Central Europe.

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Also, there has been an increase in the number of internet users as well as an increase in internet penetration. Most of the key players in the market strategize to promote their products on various social media platforms. Through social media marketing strategy Sparkling Wine Market is attracting critical growth opportunities.

According to the sparkling wine market analysis, the market is segmented on the basis of type, product, price, sales channel and region. Based on type, the sparkling wine market is categorized into red, rosé, and white. Red wine is the most consumed wine and holds most of the global sparkling wine market. Europe has a long tradition of red wine consumption, which has facilitated market penetration. Moreover, the presence of vineyards in European countries producing all varieties of red wine has an impact on the regional red wine market.

Based on the product, it is classified into cava, champagne, crémant, prosecco and others. The prosecco segment was valued at $12.1 billion in 2019 and is expected to grow at a CAGR of 6.8% during the forecast period. The segment is expected to reach $17.8 billion by 2027. Attributed to increasing disposable income and consumers’ aspiration towards experiential luxury, the market is expected to grow significantly in the coming years.

Based on sales channel, the supermarket/hypermarket segment dominated the market in 2019, accounting for 52.8% of the market share, and is expected to maintain its dominance during the forecast period for the sparkling wine market. This is attributed to increased retail sales in different regions and the availability of ample storage space for maximum sales.

Regionally, Europe was the leading market in 2019, with maximum market share. The main countries of the region, such as Italy, Spain and France, held half of the wine production worldwide. Therefore, the positive economic outlook for Europe seems sufficient to increase the aspirations of urban consumers with higher disposable incomes to invest in luxury goods. However, the market is expected to provide exciting and profitable opportunities for manufacturers.

Key players profiled in this report are Accolade Wines Australia Limited, Bronco Wine Company, Casella Family Brands, Caviro Extra SPA, Constellation Brands, E. & J. Gallo Winery, Pernod Ricard, The Wine Group, Treasury Wine Estates and Vina Concha. Y Toro SA.

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> Mergers and acquisitions must be well planned by identifying the best manufacturer.
> Sort potential new customers or partners into the demographic group you are looking for.
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> To develop effective R&D strategies, gather information, analysis and strategic ideas from competitors

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Organic Alcoholic Beverages Market https://www.alliedmarketresearch.com/organic-alcohol-beverages-market-A08797

David Correa
Allied Analytics LLP
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