Global Sparkling Wine Market to Reach US$ 55.4 Billion by 2028, Bolstered by Growing Influence of Cocktail Culture

March 07, 2022 | Food & Beverages

As per the latest report by IMARC Group, titled “Sparkling Wine Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” the global sparkling wine market size reached US$ 36.7 Billion in 2022. Sparkling wine is a fermented carbonated beverage made with grapes and other fruits. The sparkling effect of this wine comes from its carbon dioxide (CO2) content. It is made using still wine that undergoes a secondary fermentation process in a bottle or a large tank designed to withstand the pressures involved. Sparkling wine has a high concentration of polyphenols that help regulate cells’ response to brain injuries during a stroke, Alzheimer’s disease, Parkinson’s disease, and other illnesses. In recent years, there has been increased demand for sparkling wine as it is widely consumed as a celebration drink on special occasions like birthdays, anniversaries, sports events, corporate parties, and social gatherings.

Global Sparkling Wine Market Trends:

The market is primarily driven by the growing influence of cocktail culture and the rising socialization trend among the young population. In addition, the expanding food tourism industry is escalating the demand for sparkling wines in luxury hotels and restaurants for gourmet cooking. Besides this, the emerging trend of celebrating parties and weekend gatherings across the corporate sector represents another major growth-inducing factor. Moreover, various key players are introducing canned sparkling wines in a range of unique and exotic flavors through online retail channels. They are also investing in aggressive promotional strategies to expand their consumer base and gain a competitive edge in the market. This, coupled with the emerging e-commerce industry, is creating a positive market outlook across the globe. Furthermore, the growing influence of social media, the increasing expenditure capacities of consumers, and the rising trend of gifting sparkling wines with personalized bottles and labels are some of the other factors contributing to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 55.4 Billion by 2028, exhibiting a CAGR of 7% during the forecast period (2023-2028).

Market Summary:

On the basis of the type, the market has been divided into red, rose, and white.
Based on the product, the market has been categorized into cava, champagne, crémant, prosecco, and others.
On the basis of the price point, the market has been categorized into economy, mid-range, and luxury.
Based on the sales channel, the market has been segmented into supermarkets and hypermarkets, specialty stores, on trade, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report, with some of the key players being Accolade Wines, Bacardi Limited, Bronco Wine Company, Casella Family Brands, Caviro Extra S.p.A., Constellation Brands Inc., Freixenet Sa (Henkell & Co. Sektkellerei), Giulio Cocchi Spumanti Srl, Illinois Sparkling Co., Quady Winery, Treasury Wine Estates, and Vina Concha Y Toro.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Product, Price Point, Sales Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Accolade Wines, Bacardi Limited, Bronco Wine Company, Casella Family Brands, Caviro Extra S.p.A., Constellation Brands Inc., Freixenet Sa (Henkell & Co. Sektkellerei), Giulio Cocchi Spumanti Srl, Illinois Sparkling Co., Quady Winery, Treasury Wine Estates and Vina Concha Y Toro
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Global Sparkling Wine Market to Reach US$ 55.4 Billion by 2028, Bolstered by Growing Influence of Cocktail Culture

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