DUBLIN, March 24, 2023 /PRNewswire/ -- The "Global Sparkling Wine Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Product, Distribution Channel, and Regions" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global Sparkling Wine Market was valued at ~US$ 28 billion in 2017. Furthermore, owing to the increasing alcohol socialization among consumers along with the increasing adoption of European culture, it is estimated to be ~US$ 37 billion in 2022 and is expected to reach a market size of ~US$ 56 billion by 2028 growing with a CAGR of ~7% during 2022 to 2028
Rapid socioeconomic changes and urbanization are propelling demand for sparkling wine across countries
Growing food tourism or culinary tourism worldwide is positively influencing the consumption of sparkling wines in premium hotels and restaurants for fine dining.
The consumers' shifting preferences towards a variety of alcoholic beverages, such as beer, liquors, spirits, and others due to their competitive prices may stifle the market growth of sparkling wine.
The ongoing COVID-19 pandemic has resulted in an unprecedented drop in the global wine trade in 2020, due to the lockdowns imposed by several governments across countries, which have halted wine production. Furthermore, extensive closures of restaurants and bars, as well as the restrictions on socializing have lowered the sales of sparkling wine.
Scope of the Report
The Global Sparkling Wine Market is segmented by type, product, and distribution channel. In addition, the report also covers market size and forecasts for the four major regions' Sparkling Wine Markets. The revenue used to size and forecast the market for each segment is US$ billion.
By Distribution Channel
Key Trends by Market Segment
By Type: The Red segment held the largest share of the Global Sparkling Wine Market in 2021, owing to its higher levels of vitamins and minerals, which helps in boosting the immune system
Red wine is typically cultured with grape skins and seeds, and it is high in phytonutrients that provide numerous health benefits, such as lowering the risk of heart disease, increasing good high-density lipoprotein (HDL) cholesterol, easing joint pain, increasing insulin sensitivity, lowering the risk of osteoarthritis, and more
According to the Journal of Cardiovascular Development and Disease published by the Multidisciplinary Digital Publishing Institute (MDPI), a Switzerland-based publisher of open-access journals, in September 2022, consumption of wine reduced the risk of death from cardiovascular causes.
By Product: The Prosecco segment held the largest market share of the Global Sparkling Wine Market in 2021, owing to its economic viability and ease of availability.
Prosecco contains polyphenols, a plant chemical with antioxidant properties which help in lowering blood pressure, and stroke risk, improving circulation, and strengthening heart health.
Furthermore, unlike Champagne, it does not have a protected geographical location, so it can inherently be produced anywhere in the world.
By Distribution Channel: The Supermarket/Hypermarket segment held the largest market share of the Global Sparkling Wine Market in 2021.
The growth is mainly attributed to the availability of a variety of products at lower prices as compared to bars, restaurants, nightclubs, hotels, and other on-trade channels.
The modernization of retail stores across countries, notably in emerging countries, is increasing revenue generation through off-trade sales channels, such as supermarkets/hypermarkets.
By Geography: Europe accounted for the largest share of the Global Sparkling Wine Market in 2021, as Europe is the world's top producer of wine.
The most popular sparkling wine, Prosecco, is primarily produced in Italy. For instance, in January 2022, according to the Prosecco DOC Consortium, Italy's total wine production increased by 25% in 2021, with 627.5 million certified bottles of Prosecco being produced.
Furthermore, Italy followed by France is the second largest producer of sparkling wine. For instance, according to Comite Champagne, a France trade association that represents the interests of independent Champagne producers, total Champagne shipments in 2021 increased by 32% over 2020 to 322 million bottles. In addition, exports also increased further, reached a new high of 180 million bottles over the same period.
Frequently Asked Questions
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For more information about this report visit https://www.researchandmarkets.com/r/qfwzte
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