Report : Middle East and Africa 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)
Supermarkets and Hypermarkets Segment to Dominate MEA Sparkling Wine Market during 2021–2028
According to a new market research study on “MEA 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$ 1,729.90 million by 2028 from US$ 1,577.95 million in 2021. The market is estimated to grow at a CAGR of 1.3% from 2021 to 2028. The report provides trends prevailing in the MEA sparkling wine market along with the drivers and restraints pertaining to the market growth. Innovations in sparkling wine production is the major factor driving the growth of the MEA sparkling wine market. However, issues associated with the rigid government policies and regulations hinder the growth of MEA sparkling wine market.
The MEA 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 MEA sparkling wine market is segmented into—South Africa, UAE, and Rest Of MEA.
In the Middle East and Africa, South Africa had the most COVID-19 cases, followed by Saudi Arabia and the United Arab Emirates. Various companies have remained closed as a result of lockdowns, resulting in a decrease in the production and distribution activities. Shutdown of various markets such as supermarkets and hypermarkets, convenience stores, social distancing, is negatively affecting the market growth across the region. However, implementation of effective government policies in countries like the UAE have significantly revived the industrial activities across the region, which is projected to favor the growth of sparkling wines market in the Middle East and Africa.
Bacardi and Company Limited; Chandon; Constellation Brands, Inc.; Henkell Freixenet; and Treasury Wine Estates Ltd are the leading companies in the MEA 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.