emergence of low-abv cocktails is driving the Sparkling Wine Market

Latest News:- Sparkling Wine Market: Off-trade is expected to lead the Distribution Channel segment during 2024-2028

Technavio analyzes that the Sparkling Wine Market is expected to grow at a CAGR of 4.62% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 7.30 billion.There are various factors that contribute to the growth of the market. The Sparkling Wine Market is witnessing a notable trend with the emergence of low-alcohol beverage options, particularly in the cocktail segment. Consumers are increasingly seeking healthier and more moderate drinking choices, leading to the growing popularity of low-alcohol sparkling cocktails. These beverages offer the same effervescent and celebratory experience as traditional sparkling wines, but with a lower alcohol content. This shift is expected to expand the market reach and attract a wider consumer base.

The Sparkling Wine Market's offline segment encompasses sales through specialty stores, on-trade establishments, hypermarkets, supermarkets, duty-free retailers, clubhouses, and department stores. Revenues from this sector have seen a decline due to the rising trend towards online shopping. To counteract this, market players are expanding their physical presence in local and regional markets, selling through specialty stores and other retail formats. Competition is intensifying, necessitating strategic pricing and expanded product offerings to maintain market position. Additionally, consumer preferences lean towards low-alcohol, organic, and eco-friendly options, as well as premium, ceremonial, and luxury wines, culinary pairings, and lifestyle trends such as precision viticulture. Online sales channels continue to gain traction, requiring retailers to adapt and optimize their digital presence. 

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Sparkling Wine Market Segmentation

• Distribution Channel
  • Off-trade
  • On-trade
• Product
  • Champagne
  • Prosecco
  • Cava
  • Others
• Geography
  • Europe
  • North America
  • APAC
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Accolade Wines Australia Ltd.
• Bacardi Ltd.
• BODEGAS MARTINEZ LACUESTA SA
• Breathless Wines
• Bronco Wine Co.
• Campari Group
• Champagne Louis Roederer
• Constellation Brands Inc.
• Contratto srl
• E. and J. Gallo Winery
• Giulio Cocchi Spumanti Srl
• Gloria Ferrer
• Gruppo Caviro
• LVMH Moet Hennessy Louis Vuitton SE
• Pernod Ricard SA
• Quady Wines
• SCHRAMSBERG VINEYARDS
• The Nude Wine Co.
• Treasury Wine Estates Ltd.
• Vina Concha y Toro SA

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Research Analysis Overview

The global alcohol industry's sparkling wine sector experiences growth due to its association with effervescence and secondary fermentation processes. This category, including Champagne and Prosecco, is increasingly popular for special occasions and appeals to millennials and younger consumers. Classic still wines face competition as sparkling wines offer attractiveness as an aperitif, low-alcohol, and organic options. Winemaking techniques like precision viticulture and carbonation through CO2 injection contribute to the sector's allure for ceremonial events and celebrations. Grapes, alcohol, CO2, and bottles are essential components, with tanks used for fermentation and carbonation, creating bubbles through CO2 injection and aspiration.

Market Research Overview

The global sparkling wine market, a segment of the expansive brewers market within the food and beverages industry, experiences continued growth due to various factors. Notably, the rise in popularity of sparkling wine for special occasions and celebrations, particularly among millennials and younger consumers, contributes significantly to market attractiveness. Moreover, the effervescent nature of sparkling wine positions it as a luxurious and indulgent aperitif or stand-alone beverage. In addition, health-conscious consumers are increasingly drawn to the lower calorie content of sparkling wine compared to other alcoholic beverages. Technavio, a leading market research firm, predicts the global brewers market's growth will be fueled by the surge in craft beer production, especially in developed markets. This trend is expected to positively impact the sparkling wine market, as many craft breweries are expanding their product offerings to include sparkling wines. Clever branding and marketing strategies also play a crucial role in capturing the attention of consumers and driving market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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