Report : Europe Sparkling Wine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (White, Red, and Rose), Packaging Type (Bottles and Cans), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Bottles Segment to Dominate Europe Sparkling Wine Market during 2021–2028
According to a new market research study on “Europe Sparkling Wine Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Packaging Type, and Distribution Channel” is expected to reach US$ 29,899.39 million by 2028 from US$ 22,565.90 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the Europe sparkling wine market along with the drivers and restraints pertaining to the market growth. Growth in number of wineries is the major factor driving the growth of the Europe sparkling wine market. However, issues associated with the stringent government policies and regulations hinder the growth of Europe sparkling wine market.
The Europe sparkling wine market is segmented on the bases type, packaging type, and distribution channel, and country. Based on type, the market is segmented into white, red, and rose. The white segment dominated the market in 2020 and red segment is expected to be the fastest growing during the forecast period. On the basis of packaging type, the sparkling wine market is segmented into bottles and cans. The bottles segment dominated the market in 2020 and cans segment is expected to be the fastest growing during the forecast period. On the basis of distribution channel, the sparkling wine market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market and online retail segment is expected to be the fastest growing during the forecast period. In terms of country, the Europe sparkling wine market is segmented into—Germany, France, Italy, U.K., , Russia, and Rest of Europe.
In Europe, France and Italy recorded the highest number of COVID-19 cases as of June 2021. Moreover, Russia, the UK, and Germany are amongst the worst hit countries and are expected to suffer an economic hit due to the lack of revenue from various industries. European countries have implemented drastic measures and travel restrictions, including partially closing their borders. Extended lockdowns created trade barriers and restricted the operations of various industries in the region. These factors potentially restricted the growth of sparkling wines market. However, with the residents of European countries being vaccinated and life returning to normal, this impact is expected to ease out in the coming years leading to a growth in demand for sparkling wines and other beverages across the region.
Bacardi and Company Limited; Chandon; Constellation Brands, Inc.; Henkell Freixenet; Pernod Ricard Winemakers; The Sparkling Wine Co.; and Treasury Wine Estates Ltd are the leading companies in the Europe sparkling wine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.