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

The Sparkling Wine Market size was valued at US$ 43.32 Bn. in 2022 and the total Sparkling Wine revenue is expected to grow at 4.8% from 2023 to 2029, reaching nearly US$ 60.15 Bn.
Sparkling Wine Market Overview:
Global Sparkling wine is a wine that contains substantial amounts of carbon dioxide, leaving it frothy. While the product generally refers to champagne, European Union nations officially restrict the term to products made only in France's Champagne region. Prosecco, Franciacorta, Trento DOC, Oltrep Pavese Metodo Classico, and Asti from Italy, Espumante from Portugal, Cava from Spain, and Cap Classique from South Africa are examples of sparkling wines made across the world.



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Sparkling Wine Market Report Scope:

The Sparkling Wine market is segmented based on Type, Product, Price Point, Sales Channel, and Region. The growth of various segments helps our clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

The bottom-up approach has been used to estimate the market size. Major Key Players in the Sparkling Wine market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Sparkling Wine market include Bacardi and Company Limited, Bronco Wine Co., and Casella. They are continuously strategizing on mergers and acquisitions, strategic alliances, joint ventures, and partnerships for the growth of their market shares.
Sparkling Wine Market Dynamics:
Growing deseasonalized consumption of sparkling wine is the primary driver of market growth.

The global wine industry has changed dramatically during the previous two decades. The rise of sparkling wines is one phenomenon that has piqued the interest of many industry observers and analysts. Many variables, such as changes in customer preferences and tastes, might explain the dramatic increase in demand for this type of wine. The global consumption of sparkling wines has grown drastically since the turn of the century. Except for the biennium 2009-2010, when the global economic crisis significantly impacted sparkling wine sales, the demand for sparkling wine has constantly increased over the previous two decades.

The deseasonalization of consumption (which is no longer associated with end-of-year festivities) combined with a more diverse supply marked by a wider range of pricing than in the past is one of the elements driving the global popularity of sparkling wines. Sparkling wine use is becoming increasingly common (for example, as an aperitif or in cocktails) and comprises a growing proportion of customers.

The uncertain regulatory climate surrounding sparkling wine production is a major restraint in the market growth.

As governments face the 'silver tsunami' of an aging population in need of ever-expensive health care, they will become more strident about the hazards of alcohol. The World Health Organization has previously declared that there is no such thing as a safe level of alcohol. For a long time, the wine industry assumed that it was immune to the consequences of these warnings, relying on the assumption that wine in moderation is healthy. This will no longer work, and worse, the wine industry may be accused of using Big Tobacco's practices.

The best way to cope with this is to be completely honest, especially when it comes to influencer marketing. Any winery that pays, hosts, or promotes influencers must make certain that the relationship is explicitly stated in the advertising contracts. Wine writers, in particular, should be cautious about making or repeating health claims regarding wine. This is not to say that the wine business cannot respond to incorrect information; rather, the dialogue should be driven by trained medical and scientific specialists.

The growing use of vineyard robots is a major opportunity for market growth.

The deployment of vineyard robots, which is still a relatively new practice across the world, has various benefits. The robots make duties easier, optimize working time (winegrowers may dedicate their time to higher-value activities), and boost revenue.

According to a 2019 PwC (PricewaterCoopers) survey, France poll of roughly one hundred wine and spirits businesses, 55 percent anticipate robotization will have a significant influence on vineyard management. Harvesting machines have already become the standard. However, finding mechanized pruning options remains extremely tough. Work that requires the use of a tractor and driver, on the other hand, can be robotized.

French businesses such as Nao Technologies in Toulouse and VitiBot in Reims are developing electrical agricultural robots that autonomously eliminate weeds, minimizing the need for weedkillers. These solutions are consistent with the shift to more sustainable viticulture.
Sparkling Wine Market Segment Analysis:
By Product, the champagne segment is expected to grow at a CAGR of 4.5% during the forecast period. Champagne may have remained on the sidelines during the pandemic-induced lockdowns, but the business has evolved. E-commerce awakened firms to the benefits of having a direct interaction with their customers, and brands are now providing their customers with what they want: rare vintages with more ecological sustainability. Champagne does not appear to be ready to play second fiddle to the growing sparkling wine market.

Champagne, the wine of preference for such festivities, was prohibited from the cellar during the worst stages of the COVID-19 pandemic, with bars, restaurants, and nightclubs closed and weddings, religious ceremonies, birthday parties, and athletic events canceled. Brands were compelled to alter their distribution to accommodate for the abrupt halt in champagne consumption outside the house, as well as duty-free sales. Meanwhile, family-owned businesses, which frequently have a specialized consumer demographic that prefers to make orders on paper forms, have accelerated their attempts to digitalize sales.

Direct sales, mailshots, and newsletters allowed businesses to establish a special relationship with end-users who had been waiting for it. Champagne remains the emblem of celebration, which was outlawed during lockdowns, in addition to being the topic of high-end marketing strategies. The aggravation of consumers not having any form of nightlife caused the champagne demand to make a strong upward trend in the post-pandemic era.

Champagne has experienced rising competition from crémant, prosecco, and cava in recent years, thus it is in the industry's best interest to preserve its premium standing, namely by taking a qualitative approach to its goods. Consumers see themselves as being more informed about wine; they are engaged in winemaking and like learning about the product. These customers are increasingly interested in unique Champagne cuvées. People used to want to drink fizzy alcohol and that was it. However, as flavors get more sophisticated, buyers are yearning for special Champagnes with a narrative to tell. As a result, the market is divided into supermarket champagne brands and high-end vintages. The significant mid-tier offers from 15 years ago have diminished.

This premiumization may be seen in the tasting procedure as well. Mumm created a system based on the scientific approach that entails determining how touch and sight affect the taste. The brand designed two glasses with various materials and colors in partnership with cellar master Laurent Fresnet, neurologist Gabriel Lepousez, and designer Octave de Gaulle, giving tasters the sensation they are drinking two separate wines.
Sparkling Wine Market Regional Insights:
Sparkling wines are becoming increasingly popular among wine drinkers all around the world. Over the previous two decades, production has climbed by nearly 56%. The global production of sparkling wine has increased to 2.5 billion bottles. This accounts for little under 8% of the world's total wine production of nearly 35 billion bottles. Prosecco is the most significant sparkling wine in the world today in terms of volume. Italy is, of course, the leading producer. Italy produces nearly 27 percent of the world's sparkling wines, while France produces nearly 22 percent. Together with Germany (14%), Spain (11%), and the United States (6%), they account for nearly 80% of global output. The remaining 20% is produced by other countries.

Sparkling wine is more widely exported than still wines. Sparkling wine accounts for a sizable portion of Italian, French, and Spanish wine exports: 19% for Italy, 14% for France, and 9% for Spain. Although sparkling wines account for just 9% of global wine exports, they account for 21% of total export value. In terms of volume, Italy, France, and Spain accounted for nearly 85 percent of global sparkling wine exports in 2022.

Germany is the world's largest consumer of sparkling wine, followed by France, the United States, Russia, and Italy. The United Kingdom and the United States are the two main importers. They imported nearly 180 million bottles each in 2022. Germany comes in second with nearly 90 million bottles, while Belgium and Russia tie in the third with nearly 65 million bottles each. The United States is the top importer in terms of value, followed by the United Kingdom, Japan, Germany, and Singapore. Italy produces 680 million bottles, accounting for more than 10% of the total wine output. This is, of course, due to Prosecco's huge global success.

France may not produce as much sparkling wine as Italy does, but its wines are more expensive. France produces over 550 million bottles of sparkling wine. Champagne accounts for around 60% of this total. Exports account for 43% of total output. In 2020, France exported roughly 240 million bottles of sparkling wine, 156 million of which were Champagne. However, France still accounts for 52 percent of the world's total sparkling wine exports in terms of value. France's sparkling wine exports are worth 3 billion euros, which is twice as much as Italy's.
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Global Sparkling Wine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 43.32 Bn.


Forecast Period 2023 to 2029 CAGR:
4.8%
Market Size in 2029:
US $ 60.15 Bn.


 Segments Covered:
by Type
Red
Rose
White


by Product
Cava
Champagne
Cremant
Prosecco
Others


by Price Point
Economy
Mid-range
Luxury


by Sales Channel
Supermarket/Hypermarket
Specialty Stores
On Trade
Others



Sparkling Wine Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Sparkling Wine Market Key Players
1. Bacardi and Company Limited
2. Bronco Wine Co.
3. Casella
4. Constellation Brands, Inc.
5. Henkell Freixenet
6. Schramsberg Wineyards
7. Pernod Ricard Winemakers
8. The Sparkling Wine Co.
9. Treasury Wine Estates Ltd
10. Chandon
11. E & J Gallo Winery
12. Freixenet
13. California Champagnes
14. Moet Hennessy USA
15. Accolade Wines Australia Limited
16. Vina Concha Y Toro Sa

FAQs:

1. Which is the potential market for in terms of the region?
Ans. Europe is the potential market for Sparkling Wine in terms of the region.

2. What are the opportunities for new market entrants?
Ans. The growing use of vineyard robots is a major opportunity for market growth.

3. What is expected to drive the growth of the market in the forecast period?
Ans. Growing deseasonalized consumption of sparkling wine is the primary driver of market growth.

4. What is the projected market size & growth rate of the Market?
Ans.  Market size was valued at US$ 43.32 Bn. in 2022 and the total Sparkling Wine revenue is expected to grow at 4.8% from 2023 to 2029, reaching nearly US$ 60.15 Bn.

5. What segments are covered in the Market report?
Ans. The segments covered are Type, Product, Price Point, Sales Channel, and Region.