Global Sparkling Wine Market Anticipated to Reach USD 63.03 Billion by 2030
The global sparkling wine market is on a robust growth trajectory, with projections indicating an increase from USD 45.39 billion in 2023 to approximately USD 63.03 billion by 2030. This growth reflects a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.
Market Dynamics
The expansion of the sparkling wine market is driven by several key factors, including the deseasonalization of consumption, evolving consumer preferences, and the introduction of diverse product offerings across various price points. Traditionally associated with end-of-year festivities, sparkling wine has now become a beverage enjoyed year-round, contributing to sustained market growth.
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Competitive Landscape
The market is characterized by intense competition, with major players focusing on product innovation, strategic expansions, and mergers and acquisitions to strengthen their market positions. Key companies in the sparkling wine industry include E & J Gallo Winery, Henkell & Co. Sektkellerei, Freixenet, Moet & Chandon, and Rotkappchen-Mumm Sektkellereien.
Regional Insights
United States: Growth and Opportunities
The United States has witnessed significant investments from French wine producers seeking to diversify their portfolios and capitalize on the lucrative American market. Notably, the Oddo family expanded their holdings to include three estates in California, with Taaibosch being the flagship. This strategic move allows French producers to mitigate risks associated with climate volatility and gain direct access to U.S. consumers.
Asia-Pacific: Trends and Developments
The Asia-Pacific region, particularly China, has emerged as a robust market for sparkling wine, experiencing a CAGR of 13%. This growth is attributed to increasing disposable incomes, changing consumer preferences, and a growing appreciation for premium alcoholic beverages.
Europe: Consolidation and Updation
Europe continues to dominate the global sparkling wine market, with a market share of around 60%. The region has seen strategic mergers and acquisitions aimed at consolidating market positions. For instance, Gusbourne, a sparkling wine producer based in Kent, UK, is exploring the sale or merger of its stake held by Lord Ashcroft, who owns 66.2% of the company. This move comes in response to a challenging trading environment and aims to strengthen the company’s position in the competitive market.
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Middle East and Africa: Emerging Trends
The Stellenbosch region in South Africa has attracted a growing number of French investors, with around 15 estates now under French ownership. The region’s ideal terroir and relatively lower land costs compared to Europe have made it an attractive destination for investment. Notable French groups, including Les Grands Chais de France and AdVini, have made significant investments, driven by the increasing demand for South African wines in Europe and their potential for strong growth.
Recent Developments
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French Investments in California Wineries: French wine producers have increasingly invested in California, seeking geographical diversification and direct access to the large American market. Notable acquisitions include high-profile Californian wineries by top Bordeaux and Burgundy producers, adopting biodynamic techniques and leveraging their expertise.
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Gusbourne’s Strategic Exploration: Gusbourne, a sparkling wine producer based in Kent, is exploring the sale or merger of its stake held by Lord Ashcroft, following a year of flat sales and a challenging trading environment.
Sparkling Wine Market segmentation :
by Product Type
Cava
Champagne
Cremant
Prosecco
Others
Over the course of the projection period, the champagne segment is anticipated to increase at a CAGR of 4.5% by product. Although the industry has changed, champagne may have stayed out of the spotlight during the lockdowns brought on by the pandemic. Brands are now giving their customers what they want: rare vintages with more ecological sustainability, thanks to e-commerce, which made businesses realize the advantages of interacting directly with their customers. The market for sparkling wines is expanding, and champagne doesn’t seem ready to take a backseat.
by Distribution Channel
Supermarket/Hypermarket
Specialty Stores
On Trade
Others
Since prosecco, cava, and crémant have become more competitive in recent years, it is ideal for the champagne industry to maintain its premium status by producing high-quality products. Because they participate in winemaking and enjoy learning about the product, consumers believe they are better knowledgeable about wine. Unique Champagne cuvées are becoming more and more popular with these clientele. In the past, people only wanted to consume effervescent alcohol. But consumers are clamoring for unique Champagnes with a story to tell as flavors get more complex. As a result, the market is divided into supermarket champagne brands and high-end vintages. The significant mid-tier offers from 15 years ago have diminished.
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Learn about the top players driving innovation in the Sparkling Wine Market :
1. Willamette Valley Vineyards
2. Constellation Brands, Inc.
3. Schramsberg Wineyards
4. SOCIAL Sparkling Wine
5. E & J Gallo Winery
6. Mod Sélection Champagne
7. Une Femme
8. Rack & Riddle
9. Bacardi and Company Limited
10. Chandon
11. Concha Y Toro Winery
12. Henkell & Co.
13. Freixenet
14. Pernod Ricard Winemakers
15. Treasury Wine Estates
16. Accolade Wines Australia Limited
17. Fogarty Wine Group
18. Other Key Players
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