Report : South America 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 SAM Sparkling Wine Market during 2021–2028
According to a new market research study on “SAM 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$ 3,632.79 million by 2028 from US$ 2,664.61 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the SAM sparkling wine market along with the drivers and restraints pertaining to the market growth. Increase in popularity of sparkling wine is the major factor driving the growth of the SAM sparkling wine market. However, issues associated with the firm government policies and regulations hinder the growth of SAM sparkling wine market.
The SAM 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 SAM sparkling wine market is segmented into—Brazil, Argentina, and Rest of SAM.
The country with the most confirmed COVID-19 cases in South America was Brazil, followed by Argentina, Peru, Chile, and Ecuador. Governments across the region have implemented several preventive measures to protect their residents and limit the spread of the novel coronavirus. Limitations on operations of various industries across the region have adversely affected the demand for sparkling wine, which is further expected to restrain the growth of sparkling wines market in South America.
Bacardi and Company Limited; Chandon; Constellation Brands, Inc.; Henkell Freixenet; and Treasury Wine Estates Ltd are the leading companies in the SAM 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.