Portland, OR, March 18, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global sparkling wine market accounted for $33.9 billion in 2019, and is estimated to reach $51.7 billion by 2027, growing at a CAGR of 7.3% from 2021 to 2027.
Rise in number of wineries, high demand for wine from export markets, and increase in wine production have boosted the growth of the global sparkling wine market. However, the strict government regulations hamper the market growth. On the contrary, emerging markets and selected standardized premium products are expected to open new opportunities for the market players in the future.
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Covid-19 Scenario:
- The outbreak of Covid-19 severely affected the demand and sale of sparkling wine as manufacturing processes were suspended to comply with the government’s lockdown regulations. This disrupted the supply chain.
- The increase in demand and shortage of supply resulted in increased prices in 2020. However, the sales of wrinkling wine are expected to rise as the lockdown restrictions are lifted.
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The global sparkling wine market is segmented on the basis of type, product, price point, sales channel, and region. Based on products, the prosecco segment held the lion’s share in 2019, contributing to more than one-third of the market. On the other hand, the others segment is anticipated to register the highest CAGR of 9.3% during the forecast period.
Based on price point, the luxury segment is projected to manifest the highest CAGR of 7.9% during the forecast period. However, the economy segment dominated the market in terms of revenue, holding more than half of the market in 2019.
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The global sparkling wine market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA is projected to register the highest CAGR of 9.5% during the forecast period. However, the market across Europe held the lion’s share in 2019, contributing to more than three-fifths of the market.
The global sparkling wine market report includes an in-depth analysis of the prime market players such as Bronco Wine Company, Accolade Wines Australia Limited, Caviro Extra S.P.A, Casella Family Brands, E. & J. Gallo Winery, Constellation Brands, The Wine Group, Pernod Ricard, Treasury Wine Estates, and Vina Concha Y Toro SA.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.