Global Sparkling Wine Market is predicted to grow at a notable CAGR over the forecast period (2018-2023), in accordance with the latest Market Research Future (MRFR) report. Sparkling wine, simply put, is a wine that bubbles as it is poured into the glass. The fizziness that makes the wine to sparkle makes it unique. It contains a good amount of carbon dioxide that makes it fizzy. Sparkling wine is available in different forms, from dry to sweet. It is classified based on different parameters such as level of ABV (alcohol by volume), country of origin, and method of preparation.
Sparkling wine is produced from different varieties of grapes. Champagne is one of the most popular sparkling wines. This wine not only tastes good but also offers a wealth of health benefits. It can lower blood pressure, healthy for the heart, improve memory, boost the mood, and tighten the skin. This form of wine is the most technical. What makes it so technical is the fact that sparkling wines undergo not one yet a second fermentation for making bubbles. Today, sparkling wine is available in different flavors including lemon zest, lime, tropical fruit, fresh apple, flavors of flowers, and more to satiate the different taste buds.
Various factors are propelling the sparkling wine market growth. These factors, in accordance with the MRFR report, include increase in the number of local wineries, demand for premium wines, introduction of innovative products in the market such as limited edition, low-alcohol, and organic sparkling wines in different flavors such as pear, rose, apple, and honey, and growing disposable income. Additional factors pushing market growth include increasing preference of people for non-alcoholic and less alcoholic beverages, changing lifestyles, increasing social parties, internet and social media influence, increasing use of e-commerce platforms to sell wines, and growing family earning.
On the contrary, resource scarcity, vulnerability due to environmental and climatic factors, and high cost are factors that may deter the sparkling wine market growth over the forecast period.
The MRFR report provides a complete segmental analysis of the sparkling wine market report on the basis of distribution channel and type.
Based on type, the sparkling wine market is segmented into red, rose, and white.
Based on distribution channel, the sparkling wine market is segmented into retail and food service. The retail segment is again segmented into specialty stores, supermarkets and hypermarkets, and others.
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By region, the sparkling wine market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, Europe is predicted to dominate the market during the forecast period. This region is the largest wine producer in the world which is contributing to the market growth. Moreover, innovation in packaging, growing packaging industry, increase in marketing and promotional activities, increase in per capita income, and elevated living standards are also boosting the market growth.
The sparkling wine market in North America is predicted to have a notable growth over the forecast period. This is owing to celebrity endorsements and high investments in the region. Stringent regulations and heavy taxation may restrict market growth in this region.
The sparkling wine market in the APAC region is predicted to have substantial growth over the forecast period. This is on account of the increase in living standards, growing sophistication, and rapid urbanization. Indonesia, Malaysia, and India are the key contributors in this region. Moreover, the presence of several vineyards in Australia is adding to market growth.