Sparkling wine is a bubbly wine with substantial amount of carbon dioxide. The high amount of carbon dioxide in it leads to the substantial amount of bubbles in the wine. The wine is produced by the double fermentation process; during the second process of fermentation, the carbon dioxide gas is generated in bottle. Champagne is one of the best known type of the sparkling wine and famous globally. Especially, the Champagne manufactured in the France is famous globally. It is mostly used in success parties and celebrations as it is considered as luxurious and can be available in alcoholic and non-alcoholic beverages to be consumed by people in all age group.
TMR’s report on the sparkling wine market include key information on the sparkling wine including market segmentation, dynamics, and segmented and segmented revenue estimated over the forecast period. The report also shades lights on the global and regional production of the sparkling wine over the forecast period. Important part of the report is competitive vendor landscape with the in-depth information of key players and their strategies for growth in the sparkling wine market.
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Global Sparkling Wine Market: Drivers and Restraints
Thanks to the trend of premiumization, alcohol consumers are preferring sparkling wine over other alcohols for numerous occasions and parties. From past decade, the consumption of sparkling wine has surged substantially especially in the developed countries in the Europe and North America. Owing to the factors such as growing disposable income coupled with growing number of people preferring less alcoholic and non-alcoholic beverages that are propelling adoption of sparkling wine and likely to boost growth of the global sparkling wine market.
In numerous developed regions such as Europe and North American countries such as Canada and the U.S., sparkling wine is a socially acknowledged as a part of their regular life in their celebrations and parties. Additionally, younger population is primarily influenced by their peer thinking, is driving adoption of sparkling wine and is likely to boost growth of the sparkling wine market.
Furthermore, changing lifestyles and social media and Internet influence on all generation along with increasing social parties is boosting consumption of sparkling wine globally and mainly in developed countries, which is a key driver of the sparkling wine market. In addition, the other factors such as young generation under the high social network influence, growing family earning, and easier access to alcoholic and non-alcoholic drinks, is fuelling demand for sparkling wine.
In spite of these factors, the high cost of sparkling wine is limiting growth of the global sparkling wine market.
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Global Sparkling Wine Market: Geographical Analysis
On the basis of region, the global sparkling wine market could be segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Among these regions, North America is expected to dominate the global market for sparkling wine and remain dominant over the forecast period. This growth can be attributable to the high disposable income coupled with trend of gifting the sparkling wine for any occasion in the region.
Global Sparkling Wine Market: Companies Mentioned
Some of the prominent players operating in the sparkling wine market are ILLINOIS SPARKLING CO., Moët Hennessy USA, The Sparkling Wine Co., LANSON-BCC, and Pernod Ricard.