Market Overview
Sparkling wine, especially Champagne, is considered a status symbol. Wineries across the world are launching varieties of sparkling wines through their brands in a bid to stay ahead of the competition and garner and sustain consumer interest. The global Sparkling Wine Market Growth is fragmented with the presence of several producers, wineries, and distributors.
Competition is intense in the market due to the presence of numerous small and large wine manufacturers. The vendors in the market compete on the basis of several factors, including price, quality, innovation, service, reputation, distribution, and promotion. An increase in vendor competition may lead to a reduction in prices, thus, negatively affecting profit margins and market growth.
Key Players
Some of the key players in the global Sparkling Wine Market Growth are Treasury Wine Estates Ltd (Australia), Illinois Sparkling Co. (US), Moët Hennessy USA (US), Pernod Ricard (France), California Champagnes (US), Bronco Wine Co. (US), Freixenet (Spain), the Sparkling Wine Co. (UK), Constellation Brands, Inc. (US), and E. & J. Gallo Winery (US).
Market Segmentation:
The global Sparkling Wine Market Growth has been segmented based on type, distribution channel, and region.
The global Sparkling Wine Market Growth has been divided, by type, into white, rosé, and red.
On the basis of distribution channel, the global Sparkling Wine Market Growth has been segregated into food service and retail. The retail segment has further been classified as supermarkets and hypermarkets, specialty stores, and others.
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Regional Analysis
The global Sparkling Wine Market Growth has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to dominate the global Sparkling Wine Market Growth. Growing awareness about the health implications has resulted in the reduced consumption of alcohol which, in turn, has led to a rise in the consumption of sparkling wine, which has a lower alcohol content.
The Sparkling Wine Market Growth in Asia-Pacific is expected to grow rapidly due to urbanization in Indonesia, Malaysia, and India. Moreover, Australia is a significant country for wine with a larger number of vineyards.
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