INCREASE IN MARKETING ACTIVITIES IGNITE SPARKLING WINE MARKET GROWTH

28/ott/2020 17:17:52 Pradeep Z Contatta l'autore

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Sparkling wine has a significant content of carbon dioxide in it which gives it a sparkling quality and are sourced from the fermentation of grapes. Sparkling wine represents the fastest growing wine category and has witnessed massive growth in recent years.

Consumption of sparkling is considered a status symbol which is increasingly permeating/percolating among the global populace. Increasing alcohol-consuming population, increasing disposable income, and growing realization of the health benefits associated with the consumption of wine have resulted in additional demand within the global sparkling wine market.

Rigorous marketing and promotional activities by winemakers have resulted in increased brand awareness which is expected to create lucrative opportunities for market growth. In addition, the growing sale of sparkling wine through online channel has created online presence and raised awareness among consumers. Innovation in design, flavor, quality, packaging, along with rapid product developments and launches has reflected favorably on the growth of the global Sparkling Wine Market Growth. In contrast, sparkling wine represents the premium category of wines and are more popular among niche consumers. The price of sparkling wines is slightly on the higher side which restricts market growth in price sensitive markets. Additionally, growing health consciousness has resulted in a decline in the consumption of alcoholic beverages. Besides, the production of sparkling wine is subject to regulatory monitoring and heavy taxes levied on them can constrain the market growth significantly. Furthermore, an increase in the prevalence of liver and heart diseases has also had a negative impact on the sales of sparkling wine.

Segmentation

The global sparkling wine market has been segmented based on type and distribution channel.

By type, the global sparkling wine market has been segmented into white, rosé, and red.

By distribution channel, the global sparkling wine market has been segmented into food service and retail. The retail segment has been further segmented into supermarkets and hypermarkets, specialty stores, and others.

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Regional Analysis

By region, the global sparkling wine market has been segmented into Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).

Europe is domineering the global sparkling wine market. Europe is the largest producer of wine in the world and domestically produces as well as consumes huge volume of wine. The inherent tradition of consumption of wine across Europe is a major factor contributing to the growth of the market. Elevating standards of living, growing per capita income and increase in promotional and marketing activities spur the demand for sparkling wine in the region. Furthermore, expansion of the packaging industry along with innovation in packaging is stimulating the growth of the Europe market.

North America market is driven by high investment and celebrity endorsements in the region which creates opportunities for market expansion over the forecast period. However, heavy taxation and stringent regulations restrain the growth of the market to some extent.

APAC market accounts for a substantial share of the global sparkling wine market and is expected to demonstrate rapid growth in the years to come. Rapid urbanization, growing sophistication, and rise in the standard of living in the region, especially in countries such as India, Malaysia, and Indonesia are driving the growth of the APAC sparkling wine market. Additionally, the presence of large number of vineyards in Australia acts as a plus for the growth of the market.

Competitive Landscape

Treasury Wine Estates Ltd (Australia), The Sparkling Wine Co. (UK), Pernod Ricard (France), Moët Hennessy USA (US), Freixenet (Spain), Constellation Brands, Inc. (US), Illinois Sparkling Co. (US), E. & J. Gallo Winery (US), Bronco Wine Co. (US), and California Champagnes (US) are the noteworthy players in the global sparkling wine market.

Industry Updates

In December 2018, Henkell Freixenet, the global leader in sparkling wine, added a new alcohol-free sparkling wine to its namesake portfolio. The new alcohol-free sparkling wine is made using a low-temperature distillation system which keeps the natural aroma of grapes intact. The product is launched in white and rose variants.

In November 2018, House of Saka, Inc., a veteran of the adult beverage industry, launched the first-ever luxury line of cannabis-infused, alcohol-free wines. Saka's Sparkling Brut Rosé and still Rosé wines are sourced from Napa Valley, the world's foremost wine growing region.

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