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The sparkling wine market size is forecast to increase by USD 7.30 billion, at a CAGR of 4.62% between 2023 and 2028.
The market, considered a niche market, exhibits substantial growth potential. Strategic marketing and new product launches by vendors can yield high returns on investment. The demand for wine is a trend expected to persist in the Europe region. With a significant area dedicated to organic grape cultivation, Europe stands as the leading global producer of sparkling wine. Major importers include Norway, Sweden, Finland, Denmark, Germany, the UK, Switzerland, and Austria. Countries like France, Italy, and Spain primarily produce domestically, minimizing the need for imports. The market showcases promising growth rates, consumer benefits, and convenience, making it a key player in global trends, forecasts, and market analysis. Accolade Wines Australia Ltd offers wine under the brand Grant Burge.
The Market shows an accelerated CAGR during the forecast period.
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One of the key factors driving the market growth is the emergence of low-ABV cocktails. Low-alcohol beverages are fuelling the global alcohol drink market as consumers have become more health-conscious. In addition, many consumers are substituting hard drinks with light drinks. Furthermore, they also read the nutritional labels and demand products that contain lower alcohol content.
Moreover, sparkling wine, an excellent carrier of flavor, is often used by bartenders and home drinkers to bring flavor and depth to a drink without using high-ABV spirits or mixing them with fruit juices. Therefore, the emergence of cocktails based on sparkling wine is helping the global market at a fast pace. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the increasing prominence of private-label brands. Private-label wine is becoming a major focus area for retailers across the world. In addition, various retailers are selling different types of wine under their private-label brands to increase their profitability, which is contributing to the growth of the market.
Moreover, major retailers are introducing their own brands of sparkling wine, thus capitalizing on the growing demand for wine among consumers. Furthermore, in the last decade, the private-label product segment has grown in terms of scope and size. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
The negative impacts of natural disasters and adverse weather conditions are one of the key challenges hindering market growth. Raw materials, ingredients, and commodities utilized in the preparation of wine are vulnerable to natural disasters and adverse weather conditions, including droughts, floods, earthquakes, frost, and pestilence. In addition, such calamities may contaminate and affect the supply of raw materials.
Moreover, they can also increase the price of raw materials, which, in turn, increases the manufacturing and processing costs of wine products. In addition, players rely on many suppliers that are based in various locations. Furthermore, losses incurred by suppliers due to natural disasters affect the players, thereby hindering the growth of the global market during the forecast period.
The growing demand for champagne will increase market growth. This segment is one of the major wine varieties used during celebrations and comes from the Champagne region of France. In addition, it is produced by the process of Methode Champenoise that involves secondary fermentation in a bottle and primarily uses grapes pinot noir, pinot meunier, and chardonnay. Moreover, the premium varieties of Champagne have been growing at a stable rate owing to increasing global demand. In addition, the major wine markets such as France, the UK, the US, and Germany are the largest consumers of Champagne. Furthermore, the demand for Champagne is also high in other emerging markets such as Australia and New Zealand. Hence, such factors are fuelling the market growth which in turn drives the market growth during the forecast period.
The off-trade segment is estimated to witness significant growth during the forecast period. The off-trade segment of the market generates revenue from the sales of sparkling wines through channels such as specialty stores; on-trade stores (bars, pubs, and restaurants); hypermarkets, supermarkets, duty-free retail shops, and convenience stores; clubhouse stores; and department stores. In addition, the revenue generated from this segment has declined over the years, owing to the increasing preference for online shopping.
The off-trade segment was the largest segment and was valued at USD 23.67 billion in 2018.
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Moreover, wine retailers and market vendors are opening new stores in local and regional markets to fuel sales through offline channels. In addition, they sell their sparkling wines through specialty stores and other retail formats. Therefore, the competition in the market is intensifying. Furthermore, retailers are adopting new business and retail strategies, such as better pricing and wider assortments, to sustain in such a competitive market and deal with the declining preference for offline shopping. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Europe is estimated to contribute 77% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The demand for wine is increasing in Europe, and this demand is expected to remain high in the coming years. For instance, in 2023, Germany was one of the major markets for sparkling wines, especially sparkling wines, in the region. The country has witnessed a rise in the number of lounges and bars, owing to the increased consumer preference to spend on parties and clubs. In addition, the increased consumption of alcoholic beverages, such as wines and beers, by women has improved the growth prospects of the regional market. Moreover, millennials are the major consumers of conventional and sparkling wines, and they are more eager to spend on high-end wines and try popular wine blends, such as those infused with spices and fruit flavors. Hence, such factors are driving the market growth in Europe during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Breathless Wines, Bronco Wine Co., Campari Group, Champagne Louis Roederer, Constellation Brands Inc., Contratto srl, E. and J. Gallo Winery, Giulio Cocchi Spumanti Srl, Gloria Ferrer, Gruppo Caviro, LVMH Moet Hennessy Louis Vuitton SE, Pernod Ricard SA, Quady Wines, SCHRAMSBERG VINEYARDS, The Nude Wine Co., Treasury Wine Estates Ltd., and Vina Concha y Toro SA
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Sparkling Wine Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.62% |
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Market Growth 2024-2028 |
USD 7.30 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.19 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 77% |
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Key countries |
US, Italy, France, Germany, and Spain |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accolade Wines Australia Ltd., Bacardi Ltd., BODEGAS MARTINEZ LACUESTA SA, Breathless Wines, Bronco Wine Co., Campari Group, Champagne Louis Roederer, Constellation Brands Inc., Contratto srl, E. and J. Gallo Winery, Giulio Cocchi Spumanti Srl, Gloria Ferrer, Gruppo Caviro, LVMH Moet Hennessy Louis Vuitton SE, Pernod Ricard SA, Quady Wines, SCHRAMSBERG VINEYARDS, The Nude Wine Co., Treasury Wine Estates Ltd., and Vina Concha y Toro SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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