According to a new report published by Allied Market Research, titled, “Sparkling Wine Market by Type, Product, Price Point, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027,”

The global sparkling wines market size was valued at $33.9 billion in 2019 and is anticipated to reach $51.7 billion by 2027, growing at a CAGR of 7.3% during the forecast period. The market is expected to exhibit an incremental revenue opportunity of $17.8 billion from 2019 to 2027. Sparkling wine is a fermented carbonated beverage made with grapes and other fruits. The fermentation process results in the production of alcohol and CO2. During the fermentation process, the gas is not allowed to escape, and thus forms tiny bubbles. This carbonation of wine takes place either in bottles or large tanks. Carbonation can also result from CO2 injected into a few varieties of wines.

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Sparkling wine is one of the most popular alcoholic drinks preferred by consumers due to its aroma, taste, quality, and reasonable pricing. Furthermore, global developments, triggered by megatrends, such as urbanization, increasing disposable income, and rapidly aging population, indirectly create demand for sparkling wine, which, in turn, supports the growth of the number of wineries.

The alcohol industry is anticipated to experience the differential impact of the COVID-19 pandemic on each stage of its value chain through the mediums of affected workforce at industrial level, raw material supply (agricultural produce, ingredients, and intermediate products), trade & logistics, demand–supply volatility, and uncertain consumer demand at foodservice outlets. In addition, production, distribution, and inventory levels across the sparkling wines industry spectrum have experienced severe impact. Strong global concerns about the pandemic have largely but negatively influenced the global sparkling wines industry. Moreover, due to this pandemic, the prices of sparkling wines increased in 2020 to overcome economic instability.

The major players in the sparkling wines market are investing in R&D to enhance the quality of wine and gain competitive advantage over other players in the market. However, stringent government policies about advertisements and distribution of sparkling wines hamper the sparkling wines market growth.

Furthermore, there has been increase in the number of netizens along with rise in internet penetration. Most of the key players in the market strategize on promoting their products on various social media platforms. Through social media marketing strategy, the sparkling wines market attracts critical growth opportunity.

On the basis of product, it is categorized into cava, champagne, cremant, prosecco, and others. The prosecco segment was valued at $12.1 billion in 2019 and is expected to growth at a CAGR of 6.8% during the forecast period. The segment is expected to reach $17.8 billion by 2027. Attributed to increase in disposable income and aspiration of consumers toward experiential luxury, the market is expected to grow significantly in the coming years.

On the basis of sales channel, the supermarket/hypermarket segment dominated the market in 2019, accounting for 52.8% of the market share, and is expected to retain its dominance over the sparkling wines market forecast period. This is attributed to increase in business of retail sales in different regions and availability of large shelf space for maximum sales.