Sparkling Wine Market 2023 Industry Analysis, Size, Share, Growth, Trend and Forecast to 2032

 

Report Overview

The Sparkling Wine Market is expected to continue to grow in the coming years, driven by the increasing popularity of sparkling wine among consumers and the growing demand for sparkling wine in emerging markets. Producers are constantly innovating with new sparkling wine products to meet the changing demands of consumers.

The Global Sparkling Wine Market was valued at USD 41.2 Billion in 2022, and it is projected to reach USD 83.4 billion by 2032 from 2023 to 2032, this market is estimated to register a CAGR of 7.5%. 

Sparkling Wine Market Dynamics:

Demand and Trends:

  • Changing consumer preferences:  Consumers are increasingly looking for healthier and more natural beverage options. Sparkling wine is perceived as a healthier alternative to sugary sodas and other alcoholic beverages.
  • Increasing demand for premium sparkling wines:  Consumers are becoming more knowledgeable about sparkling wines and are willing to pay more for premium products. This is leading to an increase in demand for premium sparkling wines such as Champagne and Vintage Prosecco.
  • Growing popularity of sparkling wine in emerging markets:  Sparkling wine is also becoming increasingly popular in emerging markets such as China, India, and Brazil. This is due to a number of factors, including the growing middle class, rising disposable incomes, and increasing exposure to Western culture.
  • Increasing urbanization and rising disposable incomes:  As more people move to cities and their disposable incomes increase, they are becoming more discerning about their food and beverage choices. Sparkling wine is seen as a premium and sophisticated beverage, and is therefore becoming increasingly popular among urban consumers.

 Free PDF sample of our in-depth report: https://market.us/report/sparkling-wine-market/request-sample/

Key Benefits for Stakeholders:  

  • Profitability:  Sparkling wine can be a profitable product for stakeholders. It has a high margin and is relatively easy to transport and store. This makes it an attractive option for retailers, distributors, and producers alike.
  • Versatility:  Sparkling wine is a versatile beverage that can be enjoyed on a variety of occasions. It can be paired with food, served as an appetizer, or enjoyed on its own. This makes it a popular choice for consumers and businesses alike.
  • Premiumization trend:  Sparkling wine is also benefiting from the premiumization trend in the beverage industry. Consumers are increasingly willing to pay more for high-quality and unique products. Sparkling wine can be positioned as a premium product, offering consumers a luxurious and celebratory experience.
  • Growing demand:  Sparkling wine is becoming increasingly popular around the world, as consumers seek out new and exciting beverage options. This is being driven by a number of factors, including the rise of the millennial generation, the growing popularity of wine cocktails, and the increasing availability of sparkling wines at affordable prices.

Top 5 Trends Propelling Sales:

  • Innovation in the sparkling wine industry: The sparkling wine industry is constantly innovating, with new products and trends emerging all the time. This includes the development of new sparkling wine styles, such as sparkling rosé and sparkling red wine, as well as the increasing use of alternative grape varieties and production methods.
  • Expanding global market for sparkling wine: The global market for sparkling wine is growing rapidly, driven by factors such as the rising demand for sparkling wine in emerging markets such as China and India, and the increasing availability of international sparkling wine brands.
  • Growing demand for premium and artisanal sparkling wines: Consumers are becoming more discerning in their taste for sparkling wine, and are increasingly willing to pay more for premium and artisanal products. This is being driven by factors such as the growing popularity of sparkling wine tourism, the increasing availability of information about sparkling wine, and the rising awareness of the different styles and regions of sparkling wine.
  • Rising popularity of sparkling wine beyond special occasions: Sparkling wine is no longer just for celebrations. Consumers are increasingly enjoying it as a casual drink, with meals, or at social gatherings. This is being driven by factors such as the growing acceptance of sparkling wine as a food-friendly beverage, the increasing availability of affordable sparkling wines, and the rising popularity of sparkling wine cocktails.

Economic Outlook: 

  • Rising cost of raw materials:  The cost of grapes, sugar, and other raw materials used to produce sparkling wine has been rising in recent years, which could impact the profitability of sparkling wine producers.
  • Growing demand for rosé sparkling wine:  Rosé sparkling wine is becoming increasingly popular among consumers, and its demand is expected to continue to grow in the coming years.
  • Rising popularity of sparkling wine in emerging markets:  Sparkling wine is becoming increasingly popular in emerging markets such as China and India, where consumers are becoming more exposed to Western culture and lifestyles.
  • Growing popularity of sparkling wine among millennials and Gen Z:  Millennials and Gen Z are more likely to drink sparkling wine than older generations, and they are also more likely to experiment with different types of sparkling wine.

Key Market Segments

By Type

  • Grid
  • Pink
  • White

By Product

  • Digging
  • Champagne
  • Cremant
  • Prosecco
  • Other Products

By Distribution Channel

  • Bar, Pubs & Restaurants
  • Supermarket/Hypermarket
  • Liquor Stores
  • Online Retail
  • Other Distribution Channel

Top Key Players

  • Bacardi and Company Limited
  • Bronco Wine Co.
  • Casella Family Brand
  • Constellation Brands, Inc.
  • Henkell Freixenet
  • Schramsberg Vineyards
  • Pernod Ricard Winemakers
  • The Sparkling Wine Co
  • Treasury Wine Estates Ltd
  • Domaine Chandon
  • E & J Gallo Winery
  • Cava Freixenet
  • California Champagnes
  • Moet Hennessy USA
  • Accolade Wines Australia Limited
  • Other Key Players

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