December 2022, Market Research Future has published a Report on the Global Sparkling Wine Market
Sparkling wine, especially Champagne, is considered a status symbol. Wineries across the world are launching varieties of sparkling wines through their brands in a bid to stay ahead of the competition and garner and sustain consumer interest. The global sparkling wine market is fragmented with the presence of several producers, wineries, and distributors.
Competition is intense in the market due to the presence of numerous small and large wine manufacturers. The vendors in the market compete on the basis of several factors, including price, quality, innovation, service, reputation, distribution, and promotion. An increase in vendor competition may lead to a reduction in prices, thus, negatively affecting profit margins and market growth.
Based on type, the global sparkling wine market has been segmented into white, rosé, and red. The white sparkling wine segment accounted for the maximum market share in 2021. White sparkling wine is a traditional carbonated wine with a large consumer base. The red sparkling wine segment is expected to grow at a rapid pace during the forecast period owing to consumer preference for new and innovative wines.
The global sparkling wine market has been segregated, by distribution channel, into food service and retail. The retail segment has further been divided into supermarkets and hypermarkets, specialty stores, and others. The retail segment is expected to dominate the global sparkling wine market during the assessment period. The supermarkets and hypermarkets segment is projected to register the highest CAGR owing to the growth of the retail sector and the ever-expanding networks of branded supermarket and hypermarket chains.
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The global sparkling wine market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to dominate the global sparkling wine market. Growing awareness about the health implications has resulted in the reduced consumption of alcohol which, in turn, has led to a rise in the consumption of sparkling wine, which has a lower alcohol content.
The sparkling wine market in Asia-Pacific is expected to grow rapidly due to urbanization in Indonesia, Malaysia, and India. Moreover, Australia is a significant country for wine with a larger number of vineyards.
The global sparkling wine market has been segmented based on type, distribution channel, and region.
The global sparkling wine market has been divided, by type, into white, rosé, and red.
On the basis of distribution channel, the global sparkling wine market has been segregated into food service and retail. The retail segment has further been classified as supermarkets and hypermarkets, specialty stores, and others.
Some of the key players in the global sparkling wine market are Treasury Wine Estates Ltd (Australia), Illinois Sparkling Co. (US), Moët Hennessy USA (US), Pernod Ricard (France), California Champagnes (US), Bronco Wine Co. (US), Freixenet (Spain), the Sparkling Wine Co. (UK), Constellation Brands, Inc. (US), and E. & J. Gallo Winery (US).