![]() Attributed to increase in disposable income and aspiration of consumers toward experiential luxury, the market is expected to grow significantly in the coming years. The segment is expected to reach $17.8 billion by 2027. The prosecco segment was valued at $12.1 billion in 2019 and is expected to growth at a CAGR of 6.8% during the forecast period. On the basis of product, it is categorized into cava, champagne, cremant, prosecco, and others. Moreover, the presence of vineyards in European countries producing all varieties of red wine has its impact on the regional red wine market. ![]() Europe has a long tradition of red wine consumption, which has made it simpler for the market to penetrate more. Red wine is the most consumed wine, and holds the major market share in the global sparkling wines market. Based on type, the sparkling wines market is categorized into red, rose, and white. Therefore, lower penetration of such products limits the growth of the sparkling wines market.Īccording to the sparkling wines market analysis, the market is segmented on the basis of type, product, price point, sales channel, and region. However, low availability has been observed for this product in some major parts of Asia-Pacific and LAMEA, which is attributed to low-performing macro-economic factors such as low internet penetration and insufficient marketing strategies by manufacturers. Sparkling wine has witnessed higher rate of penetration in North America and Europe. Request The Free Sample PDF Of This Report : Through social media marketing strategy, the sparkling wines market attracts critical growth opportunity. Most of the key players in the market strategize on promoting their products on various social media platforms. However, stringent government policies about advertisements and distribution of sparkling wines hamper the sparkling wines market growth.įurthermore, there has been increase in the number of netizens along with rise in internet penetration. The major players in the sparkling wines market are investing in R&D to enhance the quality of wine and gain competitive advantage over other players in the market. Moreover, due to this pandemic, the prices of sparkling wines increased in 2020 to overcome economic instability. Strong global concerns about the pandemic have largely but negatively influenced the global sparkling wines industry. In addition, production, distribution, and inventory levels across the sparkling wines industry spectrum have experienced severe impact. The alcohol industry is anticipated to experience the differential impact of the COVID-19 pandemic on each stage of its value chain through the mediums of affected workforce at industrial level, raw material supply (agricultural produce, ingredients, and intermediate products), trade & logistics, demand–supply volatility, and uncertain consumer demand at foodservice outlets. Furthermore, global developments, triggered by megatrends, such as urbanization, increasing disposable income, and rapidly aging population, indirectly create demand for sparkling wine, which, in turn, supports the growth of the number of wineries. Sparkling wine is one of the most popular alcoholic drinks preferred by consumers due to its aroma, taste, quality, and reasonable pricing. LIMITED-TIME OFFER - Buy Now & Get Exclusive Discount on this Report Carbonation can also result from CO2 injected into a few varieties of wines. ![]() This carbonation of wine takes place either in bottles or large tanks. During the fermentation process, the gas is not allowed to escape, and thus forms tiny bubbles. The fermentation process results in the production of alcohol and CO2. Sparkling wine is a fermented carbonated beverage made with grapes and other fruits. The market is expected to exhibit an incremental revenue opportunity of $17.8 billion from 2019 to 2027. The global sparkling wines market size was valued at $33.9 billion in 2019 and is anticipated to reach $51.7 billion by 2027, growing at a CAGR of 7.3% during the forecast period. POTLAND, UNITED STATE, Aug/ / - According to a new report published by Allied Market Research, titled,“Sparkling Wine Market by Type, Product, Price Point, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” Rise in number of consumers suffering from alcohol addiction has been a great concern for governments of different nations.
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