The Brazil market accounts for nearly 23% of the Latin American sparkling wine market size. The market registered a compound annual growth rate (CAGR) of -1.2% during 2018-23 and 8% growth over 2022. According to GlobalData’s deep-dive analysis report, Brazil sparkling wine market databook, other sparkling wine accounted for a notable share of 97% among various sparkling wine segments in the market in 2023, followed by cava. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, LVMH Moet Hennessy – Louis Vuitton, MIOLO WINE GROUP VITIVINICULTURA and Cooperativa Vinicola Garibaldi held significant shares in the Brazil sparkling wine market in 2023. Concurrently, Chandon, Terranova and Garibaldi led in terms of brand market share. LVMH Moet Hennessy – Louis Vuitton had the leading market share by volume in 2023. Companies operating in the Brazil 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 food & drinks specialists were the key channel of purchase for sparkling wine, along with hypermarkets & supermarkets. Also, on trade recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2023. Consumers preferred this channel for its product assortment and competitive pricing. Hypermarkets & supermarkets was the next preferred channel in the Brazil market.
Among the top Latin American markets, Mexico accounted for the highest volume share in 2023, followed by Colombia, Brazil, Peru, Chile, and Argentina.
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.
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