The sparkling wine market is projected to reach US$ 55.80 billion by 2028 from 41.64 billion in 2021; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.
Sparkling wine is a variant of wine with a high carbon dioxide content, which adds additional bubbling to it. Champagne is one of the most widely popular types of sparkling wine. It is the wine manufactured in the Champagne region in France; however, many sparkling winemakers in the US use this name for their locally manufactured products.
Based on type, the global sparkling wine market is segmented into white, red, and rose. The white segment led the market in 2020. White wine is made from Moscato Bianco grapes from the Piedmont wine region in Italy. Its production is primarily concentrated in Alba and the province of Asti in Northern Italy. The bubbles are caused by natural fermentation, which might occur in the bottle or a big tank. Fermentation occurs when sugar is added to wine and yeast acts on the sugar, generating carbon dioxide. Bubbles are formed in the wine as a result of the trapped carbon dioxide inside an enclosed environment.
In 2020, Europe accounted for the largest share of the sparkling wine market. The European Union (EU) has the largest concentration of sparkling wine producers. According to the Institute of Wine and Vine, the EU accounts for 70-80% share, by volume, of the global manufacturing of sparkling wine since 2000. According to industry experts, Europe exports greater volume of sparkling wine than still wine in the international markets. The region has a long and illustrious history of winemaking. Wine lovers across the world prefer European sparkling wine owing to their unique flavors, tastes, and preparation methods. Moreover, increasing preference for less alcoholic beverages, growing influence of celebrities on the lifestyles of people, inclination toward convenience food and beverages, and the tradition of popping a bottle of Champagne or sparkling wine during festivities and celebrations, among others, justify the dramatic increase in demand for this category of wine. Europe has a highly established sparkling wine market, which consists of several prominent as well as small distillers.
Bacardi & Company Limited; Bronco Wine Co.; Casella; Constellation Brands, Inc.; Henkell Freixenet; Chandon; Schramsberg Wineyards; Pernod Ricard Winemakers; The Sparkling Wine Co.; Treasury Wine Estates Ltd; Bottega Spa; Campari Group; and Codorniu are among the key players in the sparkling wine market.
The overall sparkling wine market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the global sparkling wine market.