The Belgium market accounts for nearly 3% of the Western European sparkling wine market size. The market registered a compound annual growth rate (CAGR) of -2.4% during 2017-22 and -3.99% decline over 2021. According to GlobalData’s deep-dive analysis report, Belgium sparkling wine market databook, other sparkling wine accounted for a notable share of 41% among various sparkling wine segments in the market in 2022, followed by cava. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
According to GlobalData’s company and brand analysis, Bacardi, Pernod Ricard Group and Henkell & Co. Sektkellerei held significant shares in the Belgium sparkling wine market in 2022. Concurrently, Martini Brut, Jacob’s creek and Freixenet led in terms of brand market share. Bacardi had the leading market share by volume in 2022. Companies operating in the Belgium sparkling wine market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that hypermarkets & supermarkets were the key channel of purchase for sparkling wine, along with on trade. Also, food & drinks specialists recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Hypermarkets & supermarkets constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. On trade was the next preferred channel in the Belgium market.
Among the top Western European markets, Germany accounted for the highest volume share in 2022, followed by Belgium, France, Austria, the UK, Switzerland, Spain, Norway, Italy, Sweden, Greece, Finland, Denmark, the Netherlands, and Portugal.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the sparkling wine category and market forecast to 2027, buy the report here.