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Sparkling Wines Market Is Expected To Witness Healthy Growth At A Cagr Of 7% 2031

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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

Key Takeaways from the Market Study

“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.

Competitive Landscape

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:

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