Sparkling Wine Market Introduction
Sparkling Wine contains a significant amount of carbon dioxide which gives a bubbly effervescence to it. Sparkling Wine is produced by the double fermentation process due to which the carbon dioxide gas is formed. The first fermentation process usually takes place in the steel tanks, and the second fermentation takes place in the bottle. One of the best known sparkling wine is the Champagne, which is particularly produced in the Champagne region of France. Sparkling wine is mostly used in celebrations, success, luxury, and various other occasions. It can be alcoholic and non-alcoholic in nature and is consumed by all age group.
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Sparkling Wine Market Segmentation
The Sparkling Wine Market can be segmented on the basis of source, nature, type of wine, flavors, distribution channel, and region.
By source, the sparkling wine market can be segmented by the types of grapes which include Pinot Noir, Pinot Meunier, Chardonnay, Pinot Blanc, Pinot Gris, Petit Meslier, and Arbane. Among these, the Pinot Noir is the most widely used variety of grape followed by Pinot Meuniera and Chardonnay.
By nature, the sparkling wine market can be segmented as organic sparkling wine and conventional sparkling wine. The difference between them is the method of production. The organic sparkling wine is produced and fermented in bottles directly whereas the conventional sparkling wine is produced and fermented in high pressured tanks as well as in bottles.
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By types of wine, the sparkling wine market can be segmented as alcoholic and non-alcoholic sparkling wine. Comparatively, the alcoholic sparkling wine is experiencing a higher demand than the non-alcoholic sparkling wine and thus the alcoholic sparkling wine market is expected to grow significantly over the forecast period.
By flavors, the market is segmented into brut, fruity flavor and others. Fruity flavor segment can further be sub-segmented into apple, nutty, pear, citrus, strawberry, vanilla and cream. The most popular style of sparkling wine today is the Brut. Brut sparkling wine has a dry taste, with very low sugar levels.
By distribution channels sparkling wine market is segmented into modern trade units, specialty stores, and online stores. Supermarkets/hypermarkets are recently anticipated to hold a significant share in the sparkling wine market. Online stores also have contributed remarkably to the growth of sparkling wine market over the forecast period.
By region, sparkling wine market can be segmented into different regions while Europe being the leader with the largest production of sparkling wine. Among the Europe region, Italy holds the first position in the production and export of sparkling wine closely followed by France, Germany, Spain, and Russia. Europe is followed by the production capacity of U.S. with an increased 30% volume over the past years. In terms of consumption, Germany, Russia, and U.S. till now are the biggest sparkling wine consumers while U.K is leading in the value terms.
Sparkling Wine Market Drivers, Trends, and Drivers
According to the recent trends of premiumization, alcohol consumers are preferring sparkling wine instead of any other alcoholic drinks for celebrations and occasions. Following the recent past activities in various regions in the world, it can be concluded that consumption of sparkling wine has become an accompaniment for a number of reasons. In many developed regions such as Europe, Canada, the U.S., alcohol and sparkling wine is a socially accepted part of their daily life. Younger population of the world is influenced by their peer group or peer thinking, which is a factor driving the growth of sparkling wine market. Changing lifestyles, the influence of social media and Internet, increasing social parties, adolescents with high social network influence, greater family incomes, and others have easier access to alcoholic and non-alcoholic drinks, which is also driving demand for sparkling wine. Moreover, globally, the gender gap in terms of alcohol consumption is closing as there is increasing acceptance of female drinking in the societal norms. Because of all these factors, people are attracted towards alcohol, which is driving the growth of the sparkling wine market and this is expected to continue over the forecast period.
In spite of the growing trends of alcohol consumption and product premiumization, the high cost of various sparkling wine inhibits alcohol consumers to buy it which in result restraining the sparkling wine market to grow.
Sparkling Wine Market Key Players
The rise of demand for the Sparkling Wine in the various region is attracting key players to produce and sell sparkling wine in the market. Some the key players are ILLINOIS SPARKLING CO., The Sparkling Wine Co., Moët Hennessy USA, LANSON-BCC, Pernod Ricard, CALIFORNIA CHAMPAGNES, English Wine Producers, The Oxford Wine Company Limited, and others.