Sparkling Wine Market Growing at 7.3% CAGR to Hit USD 51.7 Billion by 2027 | Allied Market Research

The global sparkling wine market accounted for $33.9 billion in 2019, and is estimated to reach $51.7 billion by 2027, growing at a CAGR of 7.3% from 2021 to 2027.

Rise in number of wineries, high demand for wine from export markets, and increase in wine production have boosted the growth of the global sparkling wine market. However, the strict government regulations hamper the market growth. On the contrary, emerging markets and selected standardized premium products are expected to open new opportunities for the market players in the future.

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The global sparkling wine market report includes an in-depth analysis of the prime market players such as Bronco Wine Company, Accolade Wines Australia Limited, Caviro Extra S.P.A, Casella Family Brands, E. & J. Gallo Winery, Constellation Brands, The Wine Group, Pernod Ricard, Treasury Wine Estates, and Vina Concha Y Toro SA.

Covid-19 Scenario:

The outbreak of Covid-19 severely affected the demand and sale of sparkling wine as manufacturing processes were suspended to comply with the government's lockdown regulations. This disrupted the supply chain.
The increase in demand and shortage of supply resulted in increased prices in 2020. However, the sales of wrinkling wine are expected to rise as the lockdown restrictions are lifted.

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The global sparkling wine market is segmented on the basis of type, product, price point, sales channel, and region. Based on products, the prosecco segment held the lion's share in 2019, contributing to more than one-third of the market. On the other hand, the others segment is anticipated to register the highest CAGR of 9.3% during the forecast period.

Based on price point, the luxury segment is projected to manifest the highest CAGR of 7.9% during the forecast period. However, the economy segment dominated the market in terms of revenue, holding more than half of the market in 2019.

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The global sparkling wine market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA is projected to register the highest CAGR of 9.5% during the forecast period. However, the market across Europe held the lion's share in 2019, contributing to more than three-fifths of the market.

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