Sparkling Wine Market Size to Surpass US$ 66.6 Billion by 2032, exhibiting a CAGR of 5.8%

According to IMARC Group latest report titled "Sparkling Wine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on sparkling wine market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global sparkling wine market size reached US$ 39.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 66.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.

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Factors Affecting the Growth of the Sparkling Wine Industry:

• Celebrations and Social Events:

Sparkling wine is synonymous with celebrations and social gatherings, acting as a symbol of festivity and joy. The market is significantly driven by its association with special occasions such as weddings, anniversaries, and New Year's Eve. The effervescence and elegant presentation of sparkling wine make it a popular choice for toasting and creating memorable moments.

• Changing Consumer Preferences:

Evolving consumer tastes and preferences play a pivotal role in propelling the sparkling wine market. With an increasing demand for diverse and sophisticated beverage options, consumers are turning to sparkling wines for their versatility, ranging from sweet to dry varieties. The rise of a more adventurous and experimental consumer base contributes to the market's dynamism and growth.

• Global Wine Culture and Tourism:

The expanding global wine culture, coupled with the growing interest in wine tourism, fosters the sparkling wine market. Regions renowned for their sparkling wines, such as Champagne in France, Prosecco in Italy, and sparkling wines from California, attract enthusiasts and tourists, driving both domestic and international sales. The cultural significance of sparkling wine and its connection to specific terroirs further enhances its allure in the global wine market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Accolade Wines
• Bacardi Limited
• Bronco Wine Company
• Casella Family Brands
• Caviro Extra S.p.A.
• Constellation Brands Inc.
• Freixenet Sa (Henkell & Co. Sektkellerei)
• Giulio Cocchi Spumanti Srl
• Illinois Sparkling Co.
• Quady Winery
• Treasury Wine Estates
• Vina Concha Y Toro

Sparkling Wine Market Report Segmentation:

By Type:

• Red
• Rose
• White

Based on the type, the market has been divided into red, rose, and white.

By Product:

• Cava
• Champagne
• Cremant
• Prosecco
• Others

Based on the product, the market has been divided into cava, champagne, crémant, prosecco, and others.

By Price Point:

• Economy
• Mid-range
• Luxury

Based on the price point, the market has been divided into economy, mid-range, and luxury.

By Sales Channel:

• Supermarket and Hypermarket
• Specialty Stores
• On Trade
• Others

Based on the sales channel, the market has been divided into supermarket and hypermarket, specialty stores, on trade, and others.

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Based on the region, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Global Sparkling Wine Market Trends:

The increasing inclination towards socializing among the younger demographic, along with the burgeoning influence of cocktail culture, emerges as a significant driver for market expansion. Additionally, the rapid pace of urbanization, rising income levels, and evolving lifestyle preferences contribute to a global demand surge for premium sparkling wines. This trend is further fueled by the upswing in celebration parties and weekend gatherings within the corporate sector.

Moreover, the thriving food tourism sector and the expansion of culinary services play a pivotal role in the adoption of sparkling wines, particularly in luxury hotels and restaurants catering to gourmet cuisine. Market players are actively investing in strategic marketing campaigns to maintain a competitive edge, introducing canned sparkling wines in diverse and exotic flavors through online retail channels. This aligns with the flourishing e-commerce industry, driven by increased Internet penetration and smartphone dependence, fostering a positive market outlook. Additionally, the rising practice of gifting personalized bottles and labeled sparkling wines adds another dimension to market growth.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.