LONDON--(BUSINESS WIRE)--The global sparkling wine market is projected to reach sales volumes of 2,222.5 million liters by 2021, growing at a CAGR of more than 2% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global sparkling wine market for 2017-2021. Based on the product, the market is divided into prosecco, champagne, and cava segments.
Wine that contains significant amounts of carbon dioxide is known as sparkling wine. Factors such as an increase in the quantity of wine consumption, the production of new varieties of country wines, and the reduction in tariffs on the export of sparkling wine have contributed to the growth in sales.
Technavio’s research study segments the global sparkling wine market into the following regions:
Sparkling wine market in EMEA
“EMEA is the largest segment of the global sparkling wine market and occupies more than three-fourths of the overall shares. Germany, Russia, Spain, Italy, France, and the UK are the key consumers of the product in the region,” says Akash Pandey, a lead analyst at Technavio for alcoholic beverages research.
The production of sparkling wine in Africa is on the rise, with South Africa consuming the highest volume in the region. The Middle East region is at a nascent stage of sparkling wine consumption. Champagne is the most popular variety of sparkling wine consumed as a celebratory drink.
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Sparkling wine market in the Americas
The Americas is expected to be the fastest-growing segment of the sparkling wine market, driven by the swift rise in consumption of English sparkling wine, Champagne, Prosecco, as well as other varieties of the beverage. The manufacture and export of sparkling wine have been increasing especially from the wineries of California, which contribute around 70% of the US’s exports. The US is a key market for canned sparkling wines, with the millennial population in the country being the primary customer base.
Sparkling wine market in APAC
“The volume sales of sparkling wine in APAC is expected to cross 117 million liters by the end of 2017. Australia is one of the fastest-growing markets for sparkling wine, with sales of Champagne growing over 25% between 2010 and 2015,” says Akash.
Australian wines are also exported to Asian countries due to lower tariffs on imports in the latter due to the existing free trade agreements. Cava finds the highest demand in the region and is a key revenue-generating sector for the global cava market as well. Supermarkets register the highest sales of sparkling wine here.
The top vendors in the global sparkling wine market highlighted in the report are:
- E. & J. Gallo Winery
- Treasury Wine Estates
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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