Sparkling Red Wine Market: Global Industry Analysis and Forecast (2023-2029)

Sparkling Red Wine Market reached a value of US $ 39.44 Bn. in 2022. Global Sparkling Red Wine Market size is estimated to grow at a CAGR of 7.4%. The market is expected to reach a value of US $ 65.02 Bn in 2029.
Sparkling Red Wine Market Overview:
Sparkling Wines is foamed spumante beverage made up of grapes or other fruits. The production of alcohol and CO2 in the fermentation process gives the result to form sparkling wines. Gas is not permitted to break out during the fermentation process, as result, it forms a small scale of bubbles. This aeration of wine arises either in bottles or large tanks. As the standard of living is increasing, the desire of consumers to devour premium quality wine is also expected to grow. Sparkling red wine has a higher amount of litmus when compared to other wines like rose wines and white wines. Sparkling wines have fewer calories and are also advantageous to the skin which is considered a health benefit for the human body. Growing aspiration for organic wine among the consumers and increase in demand for wine passage is a major factor for the growth of the sparkling red wine market. Optimum utilization of alcohol and change in the standard of living gives rise to the sparkling red wine market.
Sparkling Red Wine Market Snapshot
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Sparkling Red Wine Market Dynamics:
While compared with other wines like white wine and rose wines, sparkling red wine has a greater amount of stilbenoid, and has a great impact on consumers. Drinking regular sparkling wines is also good for skin and memory power which is a major factor for enhancing the sparkling red wine market. Preference for sparkling red wine is always primary for consumers because it is rich in taste, low level of cholesterol, weight loss, and several other health benefits for consumers. As the number of pubs, bars and restaurants has grown the demand for sparkling red wine and hence considered as a driving factor for alcohol beverage demand. Changing lifestyle and growing disposable income is key factor driving the growth of the sparkling red wine market. Several functions like marriages, parties and social gatherings are also a key booster for the sparkling red wine market.

Stilbenoid encourages the depletion of cholesterol levels and also the expansion of blood clots. Somehow people are also getting health conscious, consuming a large amount of red wine can also cause major disease which is a key restraining factor hampering the sparkling red wine product, as a result, manufacturer of wine products faces a lot of problems in sales revenue. The market of sparkling red wine has been largely affected, due to the insufficiency of workers. Thus it appears to be a major restraining factor for the global sparkling red wine market.

Most of the other alcoholic beverages like Champagne, beer, rose wine, white wine, port wine, as well as other alternatives that occur in alcoholic beverages gives a major challenge for the sparkling red wine market. After the effect of the COVID-19 pandemic, there is a huge decline in sales revenue for various manufacturers, thus in result, the cost of wine bottles has also increased. Because of Islam’s proscription on alcohol, most of the Islamic countries banned alcoholic beverages, which is also affecting the growth of the sparkling red wine market.

Sparkling red wine has several advantages which create an immense opportunity for the sparkling red wine market such as skin improvement, spiritually uplifting, good for gut health, and also improve cognitive function. Sparkling red wine offers different flavors for the consumer such as – champagne, cava, and Prosecco which is also creating a huge market for sparkling red wine products.


Sparkling Red Wine Market Segment Analysis:
Based on Type, the market is segmented as Red, Rose, and White. The Red wine segment held the largest market share of 55.80% in 2022. Increase in awareness of health benefits the demand for red wine is driving the market. Superior choice of wine products, modernization in flavors, is the major factor for driving the red wine market segments. There are high preferences of advanced distribution networks for a red wine that is conventional to encourage the growth of the sparkling red wine market.

However, the rose wine segment held a share of 23.5% in 2022. This segment has also various health benefits like it reduces the risk of heart attack, containing potassium, less amount alcohol present, and low cholesterol level. As a result preference for red wine is also creates a lucrative growth in the forecast period. Apart from this white wine market held a market share of 20.7% in 2022. The white wine boosts the brain function, also balanced for blood sugar and higher amount of antecedent capacity present which is expected to drive the market in the forecast period.

Based on Product, the market is segmented as Champagne, Cava, Cremant, Prosecco, and others. The Prosecco Segment is expected to grow at a CAGR of 7.5% during the forecast period. This segment can help to contravene memory loss of the human body. Prosecco wine contains ashes of zinc and potassium which can also be beneficial for lung tissues. However, the champagne segment also consists of a low amount of alcohol and is expected to grow at a CAGR of xx% during the forecast period. The demand of this segment is as high, it may improve heart health and lower the risk of diabetes.

The Cava segment is rich in nutrients, reduces soreness, and also protects against the fatness of humankind. This kind of factor leads to the market growth of the cava segment during the forecast period. People also prefer cava in alcoholic beverage as it reduces the risk of heart attack and also give nutrients for alcoholic beverages as well. However cremant segment is expected to grow in European countries such as the U.K, Italy, and France. Cremant is usually made outside the champagne wine region. It forms in the rich texture of the fermentation process and gives the best out of the alcoholic beverage.

Based on Distribution Channel, the market is segmented as supermarkets, Specialty stores, On Trade, and others. The supermarket segment is expected to grow at a CAGR of 8.2% during the forecast period. The availability of sparkling red wine is huge in the supermarket and also comes at affordable prices. Due to this consumption of red wine is easier for the consumer as people get a variety of choices at these end. However, Specialty stores carry a deep mixture of brand or style categories of wines which gives huge variety in flavors of wine. The competitive market is as high in this segment as there is a different retail store, distribution channel, and variety of stores available. Apart from this On-Trade segment consists of bars, restaurants, pubs, coffee shops, etc. Due to the effect of COVID-19, the market of this segment is declined. As people, preference is trending toward less connectivity manufacturer faces a lot of problems, and the sale of wine reduces in this segment.
Sparkling Red Wine Market Regional Insights:
European region dominates the global sparkling red wine market. An increase in the number of visitants, the growth of the retail industry such as bars, restaurants, hotels, pubs has created a demand for the sparkling red wine market. Consumption of wine and spirit in the United Kingdom has raised the demand for the sparkling red wine market. There is a huge expansion of hypermarkets and on the trade market in this region which creates a lucrative growth during the forecast period. The region's growth is attributed to the growing number of retail stores such as pubs & bars, hotels, etc. Europe is expected to witness almost 61% of the alcohol market in 2022 in which France & Italy is the main market for sparkling red wine.

However, the Asia Pacific region is expected to dominate the sparkling red wine market during the forecast period. Countries like China, Japan, & Australia are expected to grow as they focus to target the consumer in terms of price point and sales channel. Adoption of business expansion and variety in product launch is giving an increase in profitability of sparkling red wine products. The major focus is their key developmental strategies to expand the market share of the sparkling red wine market.
Sparkling Red Wine Market, by Type in 2022 (%)
The objective of the report is to present a comprehensive analysis of the Sparkling Red Wine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Sparkling Red Wine Market dynamic and structure by analyzing the market segments and projecting the Sparkling Red Wine Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Sparkling Red Wine Market make the report investor’s guide.
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Sparkling Red Wine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 39.44 Bn.


Forecast Period 2023 to 2029 CAGR:
7.4%
Market Size in 2029:
US$ 65.02 Bn.


 Segments Covered:
by Type
Red Wine
Rose Wine
White Wine


by Product
Prosecco
Champagne
Cava
Cremant
Others


by Distribution Channel
Supermarket
Specialty stores
On-Trade Stores
Others



Sparkling Red Wine Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Sparkling Red Wine Market, Key Players are
1.Vina Concha Y Toro SA
2. Treasury Wine Estates
3. Pernod Ricard
4. E & J Gallo Winery
5. Constellation Brands, INC
6. Caviro Extra S.P.A
7. Casella Family Brands
8. Bronco Wine Company
9. Accolade Wines Australia Ltd.
10. Constellation Brand
11. Sula Vineyards Pvt Ltd.
12. LVMH Moet Hennessy – Louis Vuitton
13. Luis pato
14. Domaine Chandon, Inc.
15. Charlie & Echo
16. Bird in Hand Winery Pty Ltd.

Frequently Asked Questions:

1] What segments are covered in the Market report?
Ans. The segments covered in the Market report are based on Type, Product, and Distribution Channel.

2] Which region is expected to hold the highest share in the Market?
Ans. The European region is expected to hold the highest share in the Market.

3] What is the market size of the Market by 2029?
Ans. The market size of the Market by 2029 is US $ 65.02 Bn.

4] What is the forecast period for the Market?
Ans. The Forecast period for the Market is 2023-2029.

5] What was the market size of the Market in 2022?
Ans. The market size of the Market in 2022 was US $ 39.44 Bn.