Sparkling wine: Key market research findings
- Increased popularity of wine in APAC and other developing markets
- New product launches
Technavio has released a new market research report on the global sparkling wine market, which is expected to grow at a CAGR of 5% between 2016 and 2020. The advent of innovative products like organic, low-alcohol, and limited-edition sparkling wines in wide range of flavors such as rose, nectar, apple, pear, citrus, and honey are driving the growth of sparkling wine market. These wines are also frequently consumed as aperitifs and in cocktails. Champagne is the most popular sparkling wine. EMEA leads the global market for sparkling wine, occupying around 71% of the overall market share. The rising popularity of sparkling wine, increased sales during festive seasons, and rising social media promotion is driving the sparkling wine market in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Growth in urbanization and westernization in APAC has propelled the growth of the sparkling wine market in the region. Consumers in the region has shown huge interest and preference towards premium wines. People are consuming these wines during wedding ceremonies and parties, where majority of the sparkling wines, including champagnes, are imported from abroad. South Korea is one the most promising markets for sparkling wine in APAC, owing to its steady economy, young population, and rising disposable income levels,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Manufacturers are continuously launching new and innovating products in the market. For instance, Chile’s Emiliana is an organic vineyard company, which offers eco-friendly and biodynamic practices at its vineyards and wineries. Rebello has introduced a passionfruit sparkling wine made from real passionfruit rather than concentrates and flavouring. To cater to an increasingly health-conscious population, manufacturers have come up with nonalcoholic variants. Recently, Wineries of Niagara-on-the-Lake launched the Origin brand of sparkling wine in an eight-ounce can.
The leading vendors in the global sparkling wine market are Freixenet, Korbel, LVMH, Henkell, CODORNÍU, and Nyetimber. The market is highly fragmented, with the presence of several producers, wineries, and distributors. The vendors in the market compete on the basis of several factors, including price, quality, innovation, service, reputation, distribution, and promotion. Intense competition prevails in this market where the large players are acquiring the smaller ones to offer distinguished products and increase their market share.
A more detailed analysis is available in the Technavio report, Global Sparkling Wine Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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