The increasing alcohol socialization among consumers along with the increasing adoption of European culture will be the major driving factor behind the market growth.
Europe is the largest producer of wine in the world, but most of this production is concentrated in the south. The increasing high lifestyle and wine culture also contribute to the region’s growth. the increasing popularity of wine consumption among them is the major leading factor in the Asian market. Sparkling Wine is basically similar to wine but contains large amounts of bubbles in it. These bubbles make the wine fizzy, and large amounts of carbon dioxide in it make the wine sparkle. Sparkling wine is either red or white or rose type. There are examples of red sparkling wines such as the Italian Brachetto, Bonarda, and Lambrusco, and the Australian sparkling Shiraz. Sparkling Wine is made from fermented grape juice. The wine can be made with virtually any grape, although chardonnay and pinot noir are the most commonly used grapes for sparkling wine. While Champagne and Prosecco are both sparkling wines, not all sparkling wines can be classified as Champagne or Prosecco. Many people use flute glasses for drinking wine but a wider tulip-shaped glass is best. Champagne may be the most famous sparkling wine in the world as it is made in the region of Champagne, France and it is made from special grapes such as Chardonnay, Pinot Noir, and Pinot Meunier grapes.
Europe is known for being the largest producer of wine in the world and the increasing number of wineries in the region will drive the market growth over the forecast period. Europe’s southern part is mainly focused on wine production. The increasing high domestic wine production and consumption will boost the market growth during the forecast period. In addition, as standards of living are increasing in Eastern Europe, wine becomes more widely affordable, and wine consumption increases which will fuel the market growth. Furthermore, the changing lifestyle and tastes, anti-alcohol drinking campaigns, and health concerns will also hike the market during the forecast period.
The introduction of foreign wines will positively impact the forthcoming opportunities for the market, especially in countries, such as the United Kingdom, Netherlands, Austria, Germany, and Belgium. The lower-priced wines currently have the preference, and rising disposable incomes are expected to cause an increase in demand for higher-quality wines in the future, and that brings future opportunities in Eastern Europe. In addition, investments and innovative marketing strategies in terms of wine quality, brands, and number of players will provide opportunities during the forecast period. There is a growing awareness of authenticity among the more discerning consumers, in terms of traditional wine production and viticulture, use of endemic varieties, but also how the wine is transported and packaged. This provides opportunities for all developing-country wine producers.
Sparkling wine is affected by some side effects that will restrict market growth. For example, an average glass of sparkling wine may contain close to 100 calories. The alcohol content in sparkling wine can affect your metabolism. It also causes insomnia as it disrupts the most important phase of your sleep. In addition, however, the alcohol content can also increase the risk of cancer, especially lung and breast cancer. This factor may hinder the market growth.
The Sparkling wine is challenged by climate change. One of the major challenges facing Champagne in maintaining quality arises from the increase in average growing season temperatures is the key challenge for the Champagne industry. In the last two decades, heat waves have caused record-breaking temperature spikes, including 46.1 degrees Celsius—or 114.98 degrees Fahrenheit which affects the quality of grapes and production.
The report provides an in-depth analysis of the Europe Sparkling Wine market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for various Sparkling Wines in various applications and the consumption of sparkling wine becoming a social trend in many developing countries, is expected to propel growth at a specific CAGR from 2021-2028.
The Europe Sparkling Wine market comprises different market segments like type, product, price point, sales channel and Country.
By type, Sparkling Wine includes key segments of
Red wine held the major sparkling wine market share. There have been a lot of health benefits associated with the consumption of red wine and that is the primary reason that red wine gets more praise and attention due to its rich, dark fruit flavors and tannins. Tannis is responsible for pleasant sensations when drinking red wine White wine is known to be more refreshing, fruity, and citrusy. The research report by the YouGovAmerica, Red wine (69%) is the most popular among wine-drinking adults, though majorities also say they like white wine (65%) or rosé (55%).
The Sparkling Wine market is divided by product such as
The Prosecco segment is anticipated to gain a major market share in the future. The growth of the segment is attributable to many factors. Prosecco is noticeably cheaper than Champagne which of course plays a role in its popularity. It is less expensive to produce than Champagne because its fermentation takes place in stainless steel tanks. Supermarkets are continuing to notice unprecedented figures in relation to prosecco sales. Sainsbury’s own-brand prosecco is increasing its sales 40% year on year, while Tesco has noticed a 26% increase in the sale of all the prosecco brands it sells.
The Sparkling Wine market is divided by Price Points such as
The economy segment is expected to rise over the forecast period. The increasing consumer spending and high living standards coupled with increasing disposable income will drive the market growth. The economy Price range is easily adopted by everyone and is still affordable. These factors are attributed to the segment growth over the forecast period.
The Sparkling Wine market is divided by sales channels such as
The specialty stores segment is dominant and going to be led at a significant pace over the forecast period. The specialty stores are ideal for selling specialty sparkling wine. Wine retailers specially opted for specialty stores.
On Trade, option is also to grow at a significant pace over the forecast period. On trade, an option is ideal and offers a good opportunity platform for e-commerce growth.
The Europe Sparkling Wine market is studied for the following countries
The southern region of Europe is dominating the production of sparkling wine during the forecast period. Most European wine production is concentrated in the south. Italy, France, and Spain are the three largest producers in the world, accounting for about 80% of total European production in 2015. Although Germany and Portugal are considerably smaller wine producers than Italy, France, and Spain, they have long-standing traditions of wine production too. About 60% of German production consists of white wine and 40% of red wine. The increasing wine consumption and changing consumer trends is the major reason behind the growth over the forecast period.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the Europe Sparkling Wine market. In addition, a complete analysis of changes in the Europe Sparkling Wine market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of a pandemic on Europe economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
COVID-19 has brought an unprecedented challenge in every aspect of personal and industrial domain. The COVID 19 has caused an unprecedented decrease in global wine trade in the Europe region. It has seen that fall of -10% in March, -22% in April and -27% in May reduced international exports by 1.8 billion € in 4 months (March-June), equivalent to a decrease of -17% in value compared to 2019. The main impact is decreasing average value than positive general trend of the last decade. During the March-June period, the average price of wine decreased by -12% (from 3.05 €/l to 2.69 €/l). The on-trade channel closure directly impacted around 30% of the whole wine sales in the EU, which represents around 50% of the value of the wine consumed in the EU. On the other hand, Covid-19 crisis has boosted wine e-commerce by +180% on average in volume. more than 85% of the wineries that sell online have intensified their strategy in the online sales market due to the COVID-19 situation.
The Sparkling Wine market has leading operating players that are majorly focused on expanding the Europe growth of the Sparkling Wine industry with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Sparkling Wine sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
Sept-2021: Pernod Ricard has posted that the company has gained 5% sales growth in the year ended June with its China business reaching record sales.
The Europe Sparkling Wine Market is segmented into type, product, price point, and sales channel. By type, the Sparkling Wine includes key segments of red, rose, and white. Based on product, the market is segmented into Champagne, Cava, Prosecco, Sekt, Cremant, Espumante, and Sparkling Rose. By price point, the market is divided into economy, mid-range, and luxury. The market is distributed across sales channels such as Supermarkets/Hypermarkets, Specialty Stores, On Trade, and others. The Europe Sparkling Wine market is studied for the following Countries: The United Kingdom, Germany, Italy, France, Spain, Russia. Italy is the leading company market share over the forecast period.
Market Sizing for Year: | 2019-2028 |
Base Year: | 2021 |
Forecast Period: | 2022-2028 |
Value: | USD
Million |
Market Segment studied: | Type Product Price Point Sales Channel |
Market Players and its Competitors: | Bacardi Limited Accolade Wines Constellation Brands Inc. Quady Winery California Champagnes Pernod Ricard Moet Hennessy USA The Sparkling Wine Co. E & J Gallo Winery Freixenet Dom Perignon |
FREQUENTLY ASKED QUESTIONS
What are the drivers for the Sparkling Wine market?
The increasing alcohol socialization among consumers along with the increasing adoption of European culture will be the major driving factor behind the market growth.
Which is the leading Type segment for the Sparkling Wine market?
Red Wine segment has accounted for the major market share, and is expected to witness growth at the highest pace during the forecast period.
Which Country is gaining a majority of market share during the forecast period (2021-2028)?
China is expected to gain a major market share during the forecast period (2021-2028).