Sparkling wine is set to be the fastest growing sector in the global wine market leading up to 2010, according to a report by Euromonitor International.

The research group forecast volume growth in excess of 13% for the sector between 2005 and 2010, with Eastern Europe expected to be a major growth area thanks, in part, to reduced import tariffs on sparkling wine products from Germany, Italy and Spain.

Still light grape wine is expected to grow by 10.3% in volume between 2005 and 2010, while the overall global wine market is forecast to increase by 9.6%, from 25.72bn litres in 2005 to 28.18bn litres in 2010.

Euromonitor said the global wine market will be worth almost US$258.8bn by 2010, with still light grape wine worth US$188.2bn and sparkling wine representing US$33.7bn of this value.

The Russian market is also expected to show significant development in sparkling wine sales, whilst wider distribution of New World sparkling wines is expected to lift levels of consumption in developing markets such as Asia-Pacific, Latin America and Africa and the Middle East, Euromonitor said.

The report added that a slower rate of volume growth for Champagne than sparkling, at 11% over the same period, is because its sales are chiefly confined to more affluent, mature markets such as Western Europe and North America. These markets are not expected to enjoy the same rapid expansion as developing regions such as Eastern Europe.

The report, called The World Market for Wine, also said that rosé wine would exceed the growth both red and white wine, with 12% volume growth by 2010 attributed to improved quality and more year round consumption.

 

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