Sparkling Wines Market Size, Share, Industry, Forecast and outlook (2024-2031)

Sparkling Wines Market is segmented By Product Type (Cava, Champagne, Cremant, Prosecco, Others), By Coloration (Red, Rose, White), By Packaging System (Bottles, Cans), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Sales, Others) By Region (North America, Europe, South America, Asia Pacific, Middle East, And Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Sparkling Wines Market Size

Global Sparkling Wines Market reached US$ 45.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 72.13 billion by 2030. The market is growing at a CAGR of 5.9% during the forecast period 2024-2031.

Increasing alcohol socialization among consumers is driving the growth of the sparkling wine market. Sparkling wine is increasingly being consumed as part of social gatherings, such as parties, weddings, and other celebrations. This is due in part to the growing popularity of cocktail culture, which has led to an increased demand for sparkling wines that can be enjoyed on their own or as part of a cocktail.

Consumers are increasingly seeking higher-quality and premium sparkling wines. They are willing to spend more on unique and artisanal options that offer exceptional taste, craftsmanship, and a luxurious experience. Producers are responding to this trend by offering a wider range of premium sparkling wines with distinct characteristics and production methods.

Sparkling Wines Market Scope

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Sparkling Wines Market Dynamics

Rising Health Consciousness Among Consumers is Driving the Growth of the Sparkling Wines Market

Health consciousness is one of the drivers for the growth of the sparkling wine market. Consumers are becoming more aware of the negative health effects of excessive alcohol consumption, and as a result, many are seeking healthier alternatives to traditional alcoholic beverages. Sparkling wine is considered to be a healthier option. Sparkling wine contains alcohol about 12-13% which is very low compared to other alcoholic beverages, which makes it a more moderate drinking option. 

Sparkling wine generally contains fewer calories than other alcoholic beverages, such as beer or cocktails. This makes it a better choice for those watching their calorie intake. Red sparkling wine contains resveratrol, which is a powerful antioxidant that has been shown to have health benefits, such as reducing the risk of heart disease. Sparkling wine is made from grapes and does not contain additives or preservatives, which can be harmful to health. As a result, health-conscious consumers are increasingly turning to sparkling wine as a healthier alternative to other alcoholic beverages. 

Increasing Alcohol Socializing Among Consumers can Drive the Growth of the Sparkling Wine Market

Sparkling wine is often associated with celebrations and special occasions. As alcohol socializing increases, more people are likely to indulge in sparkling wine to mark milestones, such as weddings, anniversaries, birthdays, and holidays. The sparkling wine's market is expanding as a result of its festive appeal as a toasting and celebratory beverage. Thirsty Americans who enjoy wine popped 69% more Champagne corks in 2021 compared to the previous year. Covid's impact on 2020 can be partly blamed for that sharp increase, but sales are still rising, as Sarah Philips McCartan revealed.

As socializing and gathering with friends and colleagues become more prevalent, sparkling wine can be perceived as a symbol of sophistication and status. People often choose sparkling wine to make a statement or enhance their social image during social events. The desire to project a certain lifestyle and social standing can drive the demand for sparkling wine.

High Costs Associated With the Production Of Sparkling Wine Hamper the Sparkling Wines Market Growth

Sparkling wine is generally more expensive than still wine due to the additional steps and time required to produce it. One of the key differences between sparkling wine and still wine is that sparkling wine undergoes a secondary fermentation process to create bubbles. This process can be time-consuming and requires additional equipment and resources, which can add to the cost of production. 

Sparkling wine often requires more aging than still wine to achieve the desired flavor and texture. For example, Champagne must be aged for a minimum of 15 months, and many high-end Champagnes are aged for much longer. This aging process can tie up capital and storage space, which can also add to the cost of production. With the high cost of sparkling wines, the demand for the product will decrease and hence the market growth.

Sparkling Wines Market Segmentation Analysis

The global sparkling wine market is segmented based on product type, coloration, packaging system, distribution channel, and region.

Ease of Availability and Economic Viability of Prosecco 

Depending upon product type, the sparkling wines market is divided into cava, champagne, cremant, prosecco, and others.

In 2022, prosecco had the highest share in the sparkling wine market. Prosecco is generally less expensive than champagne and other premium sparkling wines, making it more accessible to a broader range of consumers. This affordability has helped to drive demand for Prosecco and increase its market growth. For instance, according to BK Wine Magazine, Prosecco is, without a doubt, the world's most popular sparkling wine. 627.5 million bottles of Prosecco DOC were produced in 2021, and most of those bottles were likely sold. Of this total, 71.5 million bottles are rose.

Prosecco is a versatile wine that can be enjoyed in a variety of settings, from casual gatherings to formal events. Its light, fruity flavor profile makes it a popular choice for brunches, afternoon drinks, and other casual occasions. Its lower alcohol content and lighter carbonation make it a popular choice for those who may find Champagne or other sparkling wines too heavy or intense. Overall, Prosecco's combination of affordability, growing popularity, versatility, and ease of drinking have all contributed to its high market share in the sparkling wine market.

Sparkling Wines Market Geographical Share

Growing Production of sparkling Wines in the Europe region

In 2022, Europe had the highest share of the sparkling wine market. Sparkling wine has a long history in Europe, particularly in France and Italy. Champagne, for example, is a type of sparkling wine that originated in the Champagne region of France and has been produced there for centuries. Prosecco, another popular sparkling wine, is made in Italy and has been produced in the region. For instance, As per Forbes, in 2020, Italy produced 27% of all sparkling wines globally followed by France having 22%. 

These longstanding traditions have helped establish Europe as a hub for sparkling wine production. Europe has a strong infrastructure for producing sparkling wine. The climate, soil, and terrain in many European countries are well-suited for growing the grapes used in sparkling wine, and European winemakers have a wealth of knowledge and expertise in producing high-quality sparkling wines. 

Sparkling Wines Market Companies

The major global players include Bacardi and Company Limited, Bronco Wine Company, Casella Family Brands, Henkell Freixenet, Caviro Extra S.p.A., Giulio Cocchi Spumanti Srl, Quady Winery, Treasury Wine Estates Ltd, Pernod Ricard Winemakers, and Schramsberg Vineyards

COVID-19 Impact On Sparkling Wines Market

COVID-19 Impact 

With lockdown measures, social distancing protocols, and restrictions on gatherings and events, the demand for sparkling wine initially declined. Many celebrations, parties, and social events were postponed or canceled, leading to a decrease in consumption. The closure of restaurants, bars, and hotels also affected the sales of sparkling wine.

Russia-Ukraine War Impact 

The Russia-Ukraine war has had a negative impact on the global wine business, including the sparkling wine market. Russia and Ukraine are two of the world's largest producers of sparkling wine, accounting for a combined 15% of global production in 2021. The war has disrupted the supply chain and led to a decrease in production, which has caused prices to increase.

AI Impact 

AI technologies can be utilized in the production process to enhance quality control measures. This analysis can help optimize production techniques, resulting in consistent quality and flavor profiles in sparkling wines produced using traditional methods or methode champenoise.

Key Developments

• In January 2022, Henkell-Freixenet, a manufacturer of sparkling wines,  acquired Bolney Wine Estate, a producer of premium red, white, rose, and sparkling English wines. This acquisition leverages the rising popularity of English sparkling wines.
• In March 2022, Constellation Brands, a major player in sparkling wines, introduced new Next Round Cocktails. It’s their first time introducing ready-to-drink cocktail wines which are mixed with a blend of real fruit juice.
• In January 2021, Good Drop Wine Cellars, India's first specialist sparkling wine producer, introduced the Frizzano Frizzante Italian collection with 4 different varieties as Bianco, Rosso, Rosato, and Forte.

Why Purchase the Report?

• To visualize the global sparkling wines market segmentation based on product type, coloration, packaging system, and distribution channel understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous sparkling wines market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Sparkling Wines Market Report Would Provide Approximately 69 Tables, 69 Figures And 102 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies