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Sparkling Wine Market Size

Report ID: GMI6840
Published Date: Oct 2023
Report Format: PDF

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Sparkling Wine Market Size

Sparkling Wine Market size was valued at USD 54.9 billion in 2022 and is estimated to expand at 4.7% CAGR from 2023 to 2032. The market is a dynamic and evolving segment of the global wine industry. Sparkling wines are distinguished by their effervescence, which is frequently achieved by a secondary fermentation prozess. They are linked with special occasions, celebrations, and luxury, making them a prominent and increasing segment of the wine market.

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There is a growing popularity of sparkling wine amongst the millennials and younger consumers. This group is increasingly looking for effervescent, lighter alternatives to classic still wines. The younger generation prefers sparkling wine because of its adaptability and attractiveness as an aperitif, a brunch staple, or even a stand-alone beverage.

Sparkling Wine Market Report Attributes
Report Attribute	Details
Base Year:	2022
Sparkling Wine Market Size in 2022:	USD 54.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.7%
2032 Value Projection:	USD 86.54 Billion
Historical Data for:	2018 to 2022
No. of Pages:	210
Tables, Charts & Figures:	297
Segments covered:	Type, Product, Price, Packaging, Distribution Channel
Growth Drivers:	Rising Disposable Income Increasing Celebratory Culture Growth of E-commerce
Pitfalls & Challenges:	Changing Consumer Preferences High Production Costs Regulations and Trade Barriers

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Consumer tastes are changing, and there is a growing need for a variety of drinking experiences, which is driving the sparkling wine market in upward trajectory. The globalisation of taste is developing an appreciation for sparkling wines as the world becomes a global palate, making them a perfect companion to different international cuisines and celebrations.

Rising disposable incomes, particularly in emerging nations, make these effervescent delights more affordable, while health-conscious consumers are drawn to their lower calorie content and effervescence. Sparkling wine manufacturers use clever branding and marketing techniques to increase their appeal and build devoted followings. The culture of innovation in the sector, from fresh flavours to creative packaging, keeps it lively and enticing.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of sparkling wine recorded USD 54.9 billion in 2022 and is set to reach USD 86.54 billion by the end of 2032, says this GMI report.

Champagne held a dominant market share of around 65% in 2022, owing to its rigorous production process, which results in delicate bubbles, nuanced flavours, and a sumptuous appearance, along with availability as brut to rosé.

U.S. market is anticipated to expand at a significant pace from 2023 to 2032, as California is the American sparkling wine industry's epicentre, with renowned regions such as Napa Valley and Sonoma County producing high-quality sparkling wines.

Accolade Wines Australia Limited, Bacardi & Company Limited, Bronco Wine Company, Casella Family Brands, Moët & Chandon, Caviro Extra S.P.A., Constellation Brands Inc., E & J Gallo Winery, Pernod Ricard Winemakers, Schramsberg Vineyards, and Treasury Wine Estates.