Alcohol consumption has grown by leaps and bounds across the world on account of a rising disposable income and changing customer tastes and preferences. However, people have never been more aware of the ills of excessive alcohol consumption than they are now, leading to a shift towards beverages with a lower alcohol content. This is anticipated to benefit the sparkling wine market substantially. Another trend that is poised to gain considerable traction in the sparkling wine market is the innovations in packaging. New bag-in-box designs and cans have piqued consumer interest, ensuring that key stakeholders in the sparkling wine market create new packaging to improve usability and enhance aesthetic appeal.
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Sparkling wine is typically rose or white wine, but there are a number of red sparkling wines available in the sparkling wine market. Wine sparkling can be attributed to the CO2 content as a result of direct injection, natural fermentation via the traditional method, or even by way of a large tank built to withstand the pressure of the Charmat process.
The sparkling wine market is likely to be worth more than US$ 43 billion by the end of the forecast period – registering a modest CAGR of 2.5%.
1) The brut segment accounts for a third of the revenue share in the sparkling wine market by sweetness level. Europe alone is worth more than US$ 5 billion by the end of the forecast period, making it imperative for companies in the sparkling wine market to target this dynamic continent. The second largest segment is the extra-brut sparkling wine segment that has just over a fifth of the revenue share. The highest CAGR in the extra-brut segment is expected in Latin America and key stakeholders in the sparkling wine market would do well to take this into consideration
2) The smallest opportunity is in the demi-sec segment of the sparkling wine market as it has a revenue share of just under 18% in the year 2017. Even though Latin America is much smaller in absolute size than either Europe or North America, it is expected to post the highest CAGR of 3.7% for the period from 2017 to 2022
3) With respect to sales channels, e-commerce is highly likely to be the future in the sparkling wine market as improving Internet infrastructure in emerging economies should ensure that people readily adopt e-commerce like never before. While the Europe e-commerce segment is larger than Latin America and APEJ combined, companies may wish to focus on the latter two as both are projected to grow at a CAGR in excess of 3%
4) Convenience stores are a comparative niche in the sparkling wine market in terms of sales channels. Nonetheless, a market opportunity greater than US$ 4 billion in 2022 makes it unwise to ignore this sales channel entirely and companies might want to attack this channel with customized distribution strategies
5) The modern trade segment is the most important sales channel in the sparkling wine market and companies are recommended to take note of this while devising their long-term business objectives. A well-developed trade infrastructure enables Europe to cement its dominance in the modern trade segment of the sparkling wine market. In the case of the grocery store segment, North America is forecast to be worth approx. US$ 1.5 billion by end 2022
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Future Lies in E-Commerce in the Sparkling Wine Market
The e-commerce channel is currently only a fifth of the revenue share in the sparkling wine market but will become increasingly important in the days ahead. As Internet connectivity improves in emerging markets and millions of people come online for the first time, they are likely to demand the convenience of ‘anywhere, anytime’ shopping that can only be provided by e-commerce portals. Along with Europe, companies may wish to target the APEJ e-commerce sales channel as the region is predicted to push past US$ 2.5 billion by the end of the forecast period.
Competition Tracking
A few of the prominent companies actively involved in the sparkling wine market have been profiled in the Fact.MR report. These are E&J Gallo Winery, Constellation Brands, Pernod Ricard SA, Bronco Wine Company, Treasury Wine Estates, Accolade Wines Australia Limited, The Wine Group LLC, Casella Family Brands, Viña Concha y Toro SA, and Caviro.
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