Sparkling Wine Market Analysis by Industry Perspective Comprehensive Analysis Growth and Forecast 2022-2028
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
Sparkling Wine Market, by Packaging Type
Sparkling Wine Market, by Distribution Channel
• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
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