Sparkling wine sector set for five-year growth - research
The latest sparkling wine research from just-drinks and The IWSR is now available
The non-Champagne sparkling wine sector is set for a period of "healthy growth" over the next five years following the category’s slowdown in 2014, according to recently-released research.
The joint-report from just-drinks and The IWSR - entitled 'Global sparkling wine insights - market forecasts, product innovation and consumer trends research' - predicts consumption will rise by some 17.5m nine-litre cases over the coming five years to 2018. The forecast increase comes on the back of a fall of 0.9% in 2014 for the segment, to 212m cases.
The majority of the growth will come from sparkling wine’s four largest markets, the US, Germany, the UK and Russia.
“The US will be hugely important to the future growth of the category, along with traditionally large-scale markets such as Germany and the UK,” the report states. Russia offers growth potential “if and when it overcomes its current economic challenges”.
The UK, in particular, was described as a “star performer” in 2014, achieving 15% year-on-year growth and a compound annual growth rate (CAGR) of 9.4% between 2009 and 2014. The “spectactular” growth in prosecco is a prime factor behind the growth in the UK. Indeed, the competitively-priced Italian sparkler has been key to the sector’s fortunes across a number of markets.
“Global interest in and demand for prosecco has been growing steadily in recent years, and it shows no signs of slowing,” the report says. In 2013, global prosecco sales overtook those of Champagne for the first time.
The development of flavoured variations and the “reinvention” of the aperitif occasion in a growing number of markets have been critical to the sparkling wine sector’s success in recent years, and are expected to remain central to the category’s progress over the coming five years.
The principal challenge sparkling wine producers face is competition from rival categories such as flavoured spirits and ciders, the report warned, adding that continued innovation is “a must” if the category is going to continue to bring in new consumers.
For full details of this report, click here.
Global sparkling wine insights - market forecasts, product innovation and consumer trends research
Based on primary research undertaken for this report, the non-Champagne sparkling wine sector is set for a period of "healthy growth" over the next five years following the category’s slowdown in 2014...read more
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