Sparkling Wine Market Size, Share & Forecast 2034

 Market Overview

The global Sparkling Wine Market is experiencing strong growth owing to increasing consumer preference for premium alcoholic beverages,  animating social celebrations and enhancing wine tourism.  It is a carbonated wine product which is common during various celebrations including festivals and weddings and in luxury dinings and among the urban and millennia consumers.

The market will benefit from Premiumization trends, innovation in Flavored Sparkling wines and the growing worldwide wine consumption as it is expected to grow rapidly by 2034. The world online alcohol retailing and the sustainable wine production are other factors contributing to the growth of the market.

Key Segments: Champagne, Prosecco, Cava, Rose Sparkling Wine, Distribution Channel

Top Regions: Europe, North America, Asia-Pacific

Growth Drivers

Rising Demand for Premium Alcoholic Beverages

A growing consumer patronage for high- end spirits and luxury alcohols has created a tough demand worldwide for sparkling wine products.

Expansion of Social and Celebration Culture

The consistently increasing spending on weddings, festivals or hospitality events is also a very important driver for the growth of the sparkling wine consumption.

Growth in Wine Tourism

The development of vineyard tourism and wine-tasting events is enhancing product awareness and worldwide market expansion.

Increasing Availability Through E-Commerce

Online retail channels and alcohol delivery services are making the pursuit of fine sparkling wines a bit more accessible to everyone around the globe.

Trends

Premium and Organic Sparkling Wines

The consumers are looking for organic, low sugar,  sparkling and fancy sparkling wine.

Sustainable Wine Production

Manufacturers are choosing sustainable farms, recyclable packaging and environmentally sensitive procedures.

Flavored and Fruit-Infused Variants

Fruit-flavored sparkling wines are also of interest to the younger, more adventurous palate.

Growth of Ready-to-Drink Wine Cocktails

Canned cocktails and ready-to-drink sparkling wine based cocktails are a rapidly growing segment within city markets.

Regional Analysis

Europe

Europe leads the sparkling wine market because of in-depth wine culture,  mature vineyards, high-consuming capacity of high-grade wines.

North America

North America, currently the largest market for spirits in the world,  is experiencing a period of rapid growth due to increasing demand for premium alcoholic beverages and a rapidly booming wine tourism market.

Asia-Pacific

The fastest growing region is forecasted to be the Asia-Pacific region due to rising wealth,  acceptance of a western lifestyle and expanding hospitality sectors.

Latin America and Middle East & Africa

And these countries are slowly becoming attractive markets, primarily driven by tourism development and rising consumption of premium drinks.

FAQs

How large is an expected sparkling wine industry by 2034?

By 2034 the size of sparkling wine is expected to be USD 89.6 billion.

What factors are influencing sparkling wine market growth?

Growth now driven by pressures of premiumization, culture of celebration, wine tourism and growing online alcohol sales.

The region where sparkling wine is leading?

Europe still leads the market due to high wine production and a strong existing consumer demand.

What are the main trends in the market for sparkling wines?

Significant trends to look for are organic sparkling wines, sustainable wine production, wine-based flavored products and wine cocktails to consumers.

Which customers are creating the demand for sparkling wine?

Market demand is also generated from ‘Millennials’, city dwellers,  the consumers of luxury beverages and the hotel industry.

source : for insights consultancy