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Sparkling Wine Market Analysis
Key Takeaways
- According to a report published by IMARC Group, the market size of the global sparkling wine industry in 2021 was $39.9 billion. The market has been projected to grow at a compound annual growth rate (CAGR) of 7.3% from 2022-2027 to reach $51.7 billion by the end of the study period (i.e. 2027).
- According to a report published by SkyQuest Technology Consulting, the market size of the global champagne market in 2021 was $6.11 billion. The market has been projected to grow at a CAGR of 6.2% during 2022-2028 to reach $9.8 billion by the end of the study period (i.e. 2028).
- According to an article on Italian Food, the total number of Prosecco DOC bottles sold in 2021 was around 627.5 million. We have further triangulated the global market size of Prosecco (in USD) to be around $10.68 billion (total number of Prosecco bottles sold in 2021 multiplied by the average price per bottle).
- According to a report published by Statista, the market size of the US sparkling wine market in 2022 is $7.39 billion. The market has been projected to grow at a CAGR of 11.71% during 2022-2025 to reach around $10.3 billion in 2025.
Introduction
This report provides the market size of the global sparkling wine industry and its segments, including the global champagne market, the global Prosecco market, and the US sparkling wine market. In addition to the required market sizes, we have provided additional information for these markets, including future growth projections. Since the market size in terms of amount for the global Prosecco market was deemed to be unavailable in the public domain during preliminary research, the research focused on providing the market size in terms of bottle sales. However, we were also able to provide the market size in terms of amount (in USD) by triangulating the data using the available data points.
The market size of the global sparkling wine industry in 2021 amounted to $39.9 billion. More details on the topic have been presented below, along with an outline of the research strategy and the calculations required for the triangulation.
Global Sparkling Wine Industry
- According to a report published by IMARC Group, the market size of the global sparkling wine industry in 2021 was $39.9 billion. The market has been projected to grow at a compound annual growth rate (CAGR) of 7.3% from 2022-2027 to reach $51.7 billion by the end of the study period (i.e. 2027).
- Another study published by Statista has reported that the worldwide revenue in the global sparkling wine industry in 2022 amounts to $36.54 billion. The market has been projected to grow at a CAGR of 14% from 2022-2025 to reach $54.14 billion by 2025. A chart showing the change in the worldwide revenue of the global sparkling wine industry over the years has been presented below.
- A further breakdown of the global sparkling wine industry by its segments, such as the global champagne market, the global Prosecco market, and the US sparkling wine market, has been presented below.
a. Global Champagne Market
- According to a report published by SkyQuest Technology Consulting, the market size of the global champagne market in 2021 was $6.11 billion. The market has been projected to grow at a CAGR of 6.2% during 2022-2028 to reach $9.8 billion by the end of the study period (i.e. 2028).
- Another study published by Future Market Insights has estimated the global champagne market size to be around $7 billion in 2022. The market has been projected to grow at a CAGR of 5.08% during 2022-2032 to reach $11.5 billion by the end of the study period (i.e. 2032). More details of this study have been presented in the chart provided below.
b. Global Prosecco Market
- According to an article on Italian Food, the total number of Prosecco DOC bottles sold in 2021 was around 627.5 million. More bottles were sold in 2021 when compared to 2020 as around 500.4 million bottles were sold in 2020. A chart showing the number of Prosecco DOC bottles sold globally over the years has been presented below.
- According to another article on Italian Food, "in the first nine months of 2021, Prosecco DOC Consortium exported about 98.2 million bottles to the US representing 25.4% of the total export."
- We have triangulated the global market size of Prosecco (in USD) to be around $10.68 billion (total number of Prosecco bottles sold in 2021 multiplied by the average price per bottle). More details on the calculations have been presented in the 'Research Strategy' section below.
c. US Sparkling Wine
- According to a report published by Statista, the market size of the US sparkling wine market in 2022 is $7.39 billion. The market has been projected to grow at a CAGR of 11.71% during 2022-2025 to reach around $10.3 billion in 2025.
- A chart showing the change in the market size of the US sparkling wine market over the years has been presented below.
Research Strategy
For this research on the market size of the global sparkling wine industry and its segments, we leveraged the most reputable sources of information that were available in the public domain, including IMARC Group, Research and Markets, Statista, Future Market Insights, and Italian Food, among others.
In addition to providing the required market sizes, we have provided additional helpful information, including the future growth projections for each market (except for Prosecco). We have also triangulated the market size of the global Prosecco market using the available data surrounding the number of bottles sold worldwide and the average price of each bottle. Therefore, we were able to provide the market size of Prosecco in terms of both sales volume and amount. It should be noted that the triangulated market size is an estimation and might not be completely accurate. The calculations required for the triangulation have been presented below:
- Total number of Prosecco bottles sold worldwide in 2021 = 627.5 million
- Average price of a Prosecco bottle ranges between $14 and $20 = (14+20)/2 = $17
- Therefore, the global market size of Prosecco = 627.5 million * $17 = $10.68 billion.