Middle East and Africa Sparkling Wine Market
The sparkling wine market in the Middle East and Africa is further segmented into South Africa, the UAE, and the Rest of the Middle East and Africa. The market in the UAE and South Africa, among other countries in this region, is witnessing slow yet significant growth However, countries such as Saudi Arabia, wherein alcohol consumption is prohibited, have low growth prospects for the market. Further, South Africa has a well-flourished wine business, and it is expected to grow significantly in the coming years owing to the factors such as rapidly evolving economic scenario, improving living standards, growing spending power, growing luxury goods demand. The UAE is offering notable opportunities for the growth of sparkling wine manufacturers as the laws on alcohol consumption in the country have been relaxed to a certain extent by the government. Previously, alcoholic beverages were only available at luxury bars and clubs in the country. Individuals needed to carry licenses for consuming alcoholic beverages at home. Furthermore, in Saudi Arabia, Iran, Kuwait, Yemen, and the Emirate of Sharjah, alcohol is completely prohibited. Thus, the Middle East has never been a primary target market for consumable alcohol producers. Innovations in sparkling wine production is the major factor driving the growth of the MEA sparkling wine market.
In the Middle East and Africa, South Africa had the most COVID-19 cases, followed by Saudi Arabia and the United Arab Emirates. Various companies have remained closed as a result of lockdowns, resulting in a decrease in the production and distribution activities. Shutdown of various markets such as supermarkets and hypermarkets, convenience stores, social distancing, is negatively affecting the market growth across the region. However, implementation of effective government policies in countries like the UAE have significantly revived the industrial activities across the region, which is projected to favor the growth of sparkling wines market in the Middle East and Africa.
Strategic insights for the Middle East and Africa Sparkling Wine provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,577.95 Million |
| Market Size by 2028 | US$ 1,729.90 Million |
| Global CAGR (2021 - 2028) | 1.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Sparkling Wine refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The sparkling wine market in MEA is expected to grow from US$ 1,577.95 million in 2021 to US$ 1,729.90 million by 2028; it is estimated to grow at a CAGR of 1.3% from 2021 to 2028. South Africa and Turkey are the leaders in wine production across the region, while several other countries such as the UAE is unexpectedly emerging in this market space, with elevated wine production capacities and fine wine quality. Sparkling wine is highly consumed in South Africa. According to wine ratings in the country, the number of wineries grows by slightly more than 4% every year. Furthermore, wine output in the country is increasing at a decent rate. Therefore, an increasing number of wineries is a major factor driving the growth of the MEA sparkling wine market.
The MEA sparkling wine market is segmented on the bases type, packaging type, and distribution channel, and country. Based on type, the market is segmented into white, red, and rose. The white segment dominated the market in 2020 and red segment is expected to be the fastest growing during the forecast period. On the basis of packaging type, the sparkling wine market is segmented into bottles and cans. The bottles segment dominated the market in 2020 and cans segment is expected to be the fastest growing during the forecast period. On the basis of distribution channel, the sparkling wine market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market and online retail segment is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the sparkling wine market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bacardi and Company Limited; Chandon; Constellation Brands, Inc.; Henkell Freixenet; and Treasury Wine Estates Ltd are among others.
The Middle East and Africa Sparkling Wine Market is valued at US$ 1,577.95 Million in 2021, it is projected to reach US$ 1,729.90 Million by 2028.
As per our report Middle East and Africa Sparkling Wine Market, the market size is valued at US$ 1,577.95 Million in 2021, projecting it to reach US$ 1,729.90 Million by 2028. This translates to a CAGR of approximately 1.3% during the forecast period.
The Middle East and Africa Sparkling Wine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Sparkling Wine Market report:
The Middle East and Africa Sparkling Wine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Sparkling Wine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Sparkling Wine Market value chain can benefit from the information contained in a comprehensive market report.
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