Sparkling Wines Landscape Is Slated To Reach A Valuation Of US$ 90 Billion By 2032
Date
1/26/2023 2:59:47 AM
(MENAFN- Ameliorate Digital Consultancy)
Global sales of sparkling wines totaled US$ 43 billion in 2021 and are predicted to reach US$ 45.99 billion in 2022. From 2022 to 2032, the market is expected to grow at a 6.9% CAGR to reach a value of US$ 90 billion by 2032. The modern trade segment accounts for more than one-third of total revenue, while e-commerce sales are expected to be about 20%.
The revenue contribution from prominent locations is likely to be dominated. Europe and North America, in particular, are seeing increased cosmetics sales.
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Future development prospects appear to be very promising, considering its high level of penetration, particularly in emerging markets, particularly in Asian countries. Furthermore, manufacturers are creating mildly alcoholic sparkling wines in response to rising public knowledge about the negative consequences of alcohol intake on human health. Sales are expected to grow at a 6.9% CAGR between 2022 and 2032.
Key Companies Profiled
E&J Gallo Winery Constellation Brands Inc. Pernod Ricard SA Bronco Wine Company Treasury Wine Estates Accolade Wines Australia Limited The Wine Group LLC Casella Family Brands Viña Concha y Toro SA Caviro Soc. Co-op.
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The rise in social media trends in developed countries is encouraging millennials and Generation Z to spend more on premium products, which is likely to open up new opportunities for market participants to join emerging markets.
Furthermore, millennials' purchasing power will soon surpass that of previous generations. Given this, the wine industry must pay close attention to consumers desires and habits. Taste and appearance are vital, but the story of the wine is what makes the consumer vibrate. Millennials want to know everything about the wine they're drinking, from the grape variety to the backstory behind the bottle.
Key Segments in Sparkling Wines Industry Research
By Sales Channel : Modern Trade Grocery Store Convenience Store E-Commerce Other Retail Formats
By Body Type : Light Bodied Medium Bodied Full-Bodied
By Sweetness Level : Extra-Brut Brut Extra Dry Demi-Sec
By Region : North America Europe APEJ Japan Middle East & Africa Latin America
Market Dynamics:
The report also offers in-depth analysis of how market dynamics will change over the course of the next years within the forecast period. Additionally, it offers useful information on the key trends influencing the current market environment and encouraging for the Sparkling Wines industry's future.
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