Sales of sparkling wines are expected to reach US$ 84.6 Bn by the end of the forecast period 2021-2031, registering a robust 7% CAGR, concludes a recently published report by Fact.MR. Furthermore, the market is anticipated to be valued at US$ 43 Bn by 2021-end. Demand is being spurred by an increase in disposable incomes, permitting purchases of premium alcoholic beverages.
From 2016 to 2020, prospects appeared quite modest, with the sparkling wine industry registering a CAGR of 3%. Prospects further dwindled during the COVID-19 outbreak, as the first wave prevented purchases due to the imposition of stringent lockdowns. However, with the eventual flattening of the infection curve, certain restrictions were lifted, thus permitting online delivery of sparkling wines.
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Key Segments Covered
- Sparkling Wine Sales via Modern Trade
- Sparkling Wine Sales via Grocery Store
- Sparkling Wine Sales via Convenience Store
- Sparkling Wine Sales via E-Commerce
- Sparkling Wine Sales via Other Retail Formats
- Light Bodied Sparkling Wine
- Medium Bodied Sparkling Wine
- Full-Bodied Sparkling Wine
- Extra-Brut Sparkling Wine
- Brut Sparkling Wine
- Extra Dry Sparkling Wine
- Demi-Sec Sparkling Wine
Key Takeaways from the Market Study
- By distribution channel, sales via modern trade channels to account for 1/3rd of global revenue
- E-commerce to hold around 20% share in sparkling wines distribution through 2021
- Brut sparkling wines to remain preferred, accounting for 33% revenue until 2031
- Demand for extra-brut sparkling wines to capture 20% revenue share
- Europe to be a global sparkling wine hotspot, generating an opportunity worth US$ 5 Bn
- Consumption of sparkling wine in North America to surge at over 4% CAGR until 2031
“Despite the COVID-19 outbreak, e-commerce sales of sparkling wine have set new records owing to the surge in residential consumption of wine. Also, emerging trend of consuming champagne and wine at casual occasions will garner the future demand.” comments a Fact.MR analyst.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground. Prominent market developments are as follows:
- In September 2021, Pernod Ricard SA signed an agreement to acquire online alcoholic beverages trading platform The Whiskey Exchange. This acquisition is co-incident with Pernod Ricard’s consumer centric strategy of fulfilling new consumer needs and expectations, and a strong demand for premiumisation
- In August 2021, Treasury Wine Estates Ltd. announced its decision to join the RE-100 global renewable power initiative, as part of its commitment to transition to 100% renewable electricity generation by 2024. Its premium brands: Penfolds, Wolf Bass, Pepperjack, Wyns and Squealing Pig- will be manufactured with 100% renewable electricity.