The increasing alcohol socialization among consumers along with the increasing adoption of European culture will be the major driving factor behind the market growth.
North America is one of the prominent markets in the sparkling wine market due to the presence of the younger generation and 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.
The high standard of living and cultural celebrations in the North American region will drive market growth during the forecast period. By the report studied by Wine Intelligence Ltd, the US market for sparkling wine has now expanded by more than a quarter in just five years and the main reason is attributed to the increasing demand to celebrate weddings, holiday gatherings and other personal milestones after the restrictions of the pandemic helped accelerate growth to double digits in 2021. In addition, there is a sizeable shift in the number of drinkers that view sparkling wine as a “relaxing drink at the end of the day, this change in consumer attitude to sparkling wine, with the drink moving away from exclusive association with formal events and special occasions will boost the market growth in the North America Region.
In North America Region, sparkling wine has a fizzy effect and an upscale reputation. Sparkling winemakers are expanding their customer base and introducing refreshingly new and accessible ways to enjoy this beverage any day other than luxury events and special occasions. Some companies specialize in the products and services that sparkling wine producers need to refine their craft and expand their operations to meet demand. For example, Rack & Riddle offers guidance through the custom crush grape-to-bottle process. This includes crushing, lab work, storage in barrels or tanks, tirage bottling, aging, disgorging, corking, foiling, caging, labeling, packing, and palletizing wines for pickup. In addition, new trends in farming, marketing, and sustainability have influenced the business and put it in an exciting direction for the future.
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 North America 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 North America 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 North America Sparkling Wine market is studied for the following countries
The United States dominates sparkling wine production in North America, By Wine Intelligence Ltd., the number of Americans enjoying sparkling wine has risen by 30%. Between 2019 and 2022, the number of Americans enjoying sparkling wine has risen by 30%. Not only are more people drinking sparkling wine, but they are also drinking it more frequently, with the number of monthly sparkling wine drinkers rising from 56% three years ago to 72% in 2022. These factors are driving the market growth in the United States.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the North America Sparkling Wine market. In addition, a complete analysis of changes in the North America 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 North American economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
The impact of COVID?19 has taken a huge hit on the sparkling wine market as the demand is declining during the lockdown and sales dropped which would result in a decline in revenue generation. According to IWSR data, in 2019, still wine volumes in the US declined -1.0% for the first time in twenty-five years. Wine consumption growth in the US has gradually been slowing over the years as consumers increasingly favour spirits and, more recently, hard seltzers. During the pandemic, wineries with a heavy skew of on-premise and tasting room sales have suffered the most. retail brands with wider grocery distribution, large format, and bag-in-box brands are seeing strong growth to-date. Stay-at-home measures have prompted wineries to invest more resources into diversifying sales channels. Small brands are opted for online strategies to offset on-premise closures. During the COVID 19 E-commerce sales has boomed and as slowly lockdown eases, the wine industry needs focus on relationships with consumers, especially millennials and Gen Z consumers.
The Sparkling Wine market has leading operating players that are majorly focused on expanding the North America 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 North America 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 Supermarket/Hypermarket, Specialty Stores, On Trade, and others. The North America Sparkling Wine market is studied for the following Countries: The United States, Canada, and Mexico. The United States 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 Segment studied: | 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).