Global Sparkling Wines Market - 2023-2030

Global Sparkling Wines Market - 2023-2030

Global Sparkling Wines Market reached US$ 45.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 72.13 billion by 2030. The market is growing at a CAGR of 5.9% during the forecast period 2023-2030.

Consumers are increasingly seeking out premium and craft sparkling wines. They are willing to pay a higher price for unique and high-quality offerings that provide a distinctive taste and experience. This trend opens up avenues for producers to cater to the growing segment of discerning consumers looking for artisanal and small-batch sparkling wines. With the focus on health and wellness, many consumers are looking for lower-sugar and lower-alcohol options in their beverage choices. This has also led to an increased demand for sparkling wines.

Consumers are increasingly interested in experiencing different levels of carbonation in sparkling wines. Some prefer wines with fine, delicate bubbles, while others seek out wines with more pronounced and persistent effervescence. Offering a range of carbonation options can cater to diverse consumer preferences and attract a wider customer base.

Market Dynamics
Increasing Consumption of Sparkling Wines in Large Social Gatherings and Big Events is Driving the Market Growth

The popularity of sparkling wine at large social gatherings and big events can be a significant driver of the growth of the sparkling wine market. Sparkling wine is often associated with celebratory occasions, such as weddings, parties, and corporate events. These events provide a platform for sparkling wine brands to showcase their products to a large and diverse audience, increasing visibility and brand exposure.

According to Concours Mondial Bruxelles, In 2023, sparkling wine is anticipated to surpass beer as the most popular alcoholic beverage in the USA. American consumption of sparkling wine increased by 30% between 2019 and 2022. Sparkling wine is often viewed as a luxurious and festive drink, which can create a positive association with the brand and increase the likelihood of repeat purchases. Overall, the popularity of sparkling wine at large social gatherings and big events can contribute to the growth of the sparkling wine market.

Increasing Disposable Income is Driving the Market Growth of the Sparkling Wines Market

Rising disposable income allows consumers to allocate more funds to discretionary spending, including indulgent food and beverages. Sparkling wine is often associated with celebration, luxury, and prestige. As consumers have more disposable income, they are more inclined to seek out premium products, including high-quality sparkling wines. This increased demand for premium options drives the market growth of sparkling wine.

With higher disposable income, consumers have more opportunities to enjoy dining out, socializing, and celebrating special occasions. Sparkling wine is often the beverage of choice for such events, as it adds a touch of festivity and elegance. As consumers engage in these activities more frequently, the demand for sparkling wine increases, driving market growth.

Competition From Other Alcoholic Beverages Hamper the Growth of the Sparkling Wines Market

Competition from other alcoholic beverages can be a restraint for the growth of the sparkling wine market. Consumers have a wide variety of alcoholic beverage choices, including beer, spirits, and still wine. Worldwide, beer is the most consumed alcoholic beverage. For instance, according to Global Beer Consumption Report published by Kirin Holdings company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year.

Sparkling wine can be more expensive than other alcoholic beverages, making it less attractive to price-sensitive consumers. This can limit demand and impact market growth. Other alcoholic beverages may be more widely available or more accessible than sparkling wine, which can limit consumer exposure and limit market growth. Overall, competition from other alcoholic beverages can limit the market share and growth potential of sparkling wine.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Russia-Ukraine War Impact
The market for sparkling wine has been significantly impacted by the Russia-Ukraine War. Two of the biggest producers of sparkling wine in the world are Russia and Ukraine, and the conflict has hampered both exports and production.

Glass, which is required to produce sparkling wine bottles, is in limited supply in Russia as a result of the conflict. Importing supplies and machinery for winemaking has also become more challenging. Although Ukraine is a significant sparkling wine producer, the war has forced several wineries to close. The disruption of production in Russia and Ukraine has led to a shortage of sparkling wine on the global market

AI Impact
The use of AI technologies in the industrial process can improve quality control procedures. This analysis can aid in production method optimization, resulting in consistent quality and flavor profiles in sparkling wines made with méthode champenoise or conventional techniques.

In addition to effervescence levels and particular styles like brut and dry brut, artificial intelligence (AI) can assist consumers in finding new sparkling wines that suit their tastes and preferences. Producers may improve customer experiences and raise consumer interest in their sparkling wine offers by making tailored recommendations.

Segment Analysis
The global sparkling wine market is segmented based on product type, coloration, packaging system, distribution channel, and region.

The Versatility and Ability to Appeal to a Broad Range of Consumer Preferences for White Sparkling Wines

Based on coloration the sparkling wines market is classified into red, rose, and white.

In 2022, white sparkling wine typically has the highest share in the sparkling wine market. According to a report published by ResearchGate, on average consumption of white wine held 28.6%. This is because white sparkling wine, such as champagne, prosecco, and cava, has traditionally been the most popular and widely produced type of sparkling wine. White sparkling wine is made primarily from white grape varieties, such as chardonnay, pinot noir, and pinot meunier. It is characterized by its light, refreshing taste, and effervescence, which makes it a popular choice for celebrations and special occasions.

While other types of sparkling wine, such as rosé and red, have gained popularity in recent years, white sparkling wine remains the most widely consumed and produced type of sparkling wine. It is available at a range of price points and is produced in regions all around the world, including Champagne (France), Prosecco (Italy), and Cava (Spain). Overall, the popularity and market share of white sparkling wine can be attributed to its long history, versatility, and ability to appeal to a broad range of consumer preferences.

Geographical Analysis
Increasing Consumption of Sparkling Wines in the North American Region
In 2022, North America had a significant share of the sparkling wine market. The demand for sparkling wine has been steadily increasing in North America over the past decade, as consumers seek out new and interesting wine options. For instance, according to Wine Intelligence, the number of consumers in America has risen to 30% between 2019 and 2022.

North America has a growing wine culture, with more consumers becoming interested in exploring different wine varieties and regions. This has led to an increased demand for sparkling wine, which is seen as a versatile and celebratory option. As the demand for sparkling wine continues to grow, North America will likely continue to play a major role in the global sparkling wine market.

Competitive Landscape
The major global players in the market include Bacardi and Company Limited, Bronco Wine Company, Casella Family Brands, Henkell Freixenet, Caviro Extra S.p.A., Giulio Cocchi Spumanti Srl, Quady Winery, Treasury Wine Estates Ltd, Pernod Ricard Winemakers, and Schramsberg Vineyards

Why Purchase the Report?
• To visualize the global sparkling wines market segmentation based on product type, coloration, packaging system, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of sparkling wines market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The Global Sparkling Wines Market Report Would Provide Approximately 69 Tables, 69 Figures, And 200 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies