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Sparkling Wine Market Analysis by Industry Perspective Comprehensive Analysis Growth and Forecast 2022-2028

07-12-2022 06:48 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

Sparkling wine

Sparkling wine

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.

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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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, changes in lifestyle transform their food habits and meal preferences. 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, social media and the Internet have a significant impact on all generations, while increase in parties and social events are leading to the high consumption of sparkling wine globally, primarily in developed nations such as the US, Canada, Mexico, Germany, France, and Italy.

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.

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Impact of COVID-19 Pandemic on Sparkling Wine Market

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. Further, with the reopening of several markets, acceleration of vaccination development, and initiatives taken by various governments to support economic and industrial growth, the performance of the sparkling wine market is anticipated to improve in the coming years. In addition, e-commerce platforms have contributed significantly to the enhancement of sparkling wine sales amid the COVID-19 crisis. More than 85% of wineries that sell their products online have increased their online sales approach in order to capture the newfound growth within the online channel for sparkling wines.

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

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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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