According to research conducted by The Insight Partner, the sparkling wine market will reach exceptional value by 2028.
“The sparkling wine market, which today is worth 42.6 billion dollars, will reach a value of 55.8 billion dollars in 2028, with an average annual growth of +4.3%”.
According to the study Sparkling Wine Market to 2028 – Global Analysis and Forecast, this market will increase its value within 7 years, reaching almost 56 billion dollars. The estimated average annual growth is 4.3%, which is mainly supported by socio-economic changes and frenetic urbanization. Last year, the greatest growth was recorded in Europe; the most important consumption was recorded in Germany, France, Italy, UK and Russia. The reason is easy to identify: in these countries every major party, celebration or event is accompanied by a bottle of sparkling wine.
“With the growth of living standards and purchasing power, consumers are turning to products of ever greater level and quality. Furthermore, lifestyle changes transform their eating habits and preferences, which is why the demand for sparkling wines at parties, weddings and social gatherings is on the rise. With the growing preference for low or no alcoholic beverages, the popularity of sparkling wines runs among Millennials, teenagers, the active population and singles”.
The type of sparkling wine most appreciated and consumed in 2020 was the white one, thanks also to its beneficial properties for health, the premiumization of products and innovation in flavors. Excellent results were also recorded for rosé sparkling wines last year, which the highest average annual growth between now and 2028 is estimated for.
“Supermarkets and hypermarkets accounted for the largest share of the market: the large number of customers and the depth of the offer are the main factors that fuel the growth of this segment. Even online, however, is making its way as an important channel, especially during the Covid-19 pandemic, and e-commerce is expected to mark the highest average growth, among sales channels, between 2021 and 2028 “.
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