North America Sparkling Wine Market
North America constitutes economies such as the US, Canada, and Mexico. North America is one of the prominent regions for sparkling wines market owing to rapidly increasing consumption of sparkling wines across the region. Moreover, The US is one of the significant producers of sparkling wine in the world, and according to a report published by the International Organization of Vine and Wine, it accounted for 6% of the global sparkling wine production in 2018. The country ranks third among the largest consumers of sparkling wine, after Germany and France. Although sparkling wine traditionally serves the purpose of celebration and grandeur, Americans are rapidly welcoming it as a wine for everyday meet-ups. According to the data provided by Wine Institute, more than 300 wineries in California produce sparkling wine in various styles, ranging from bone dry to sweet. Further, growing inclination toward beverages with lower alcohol content, changing food and beverage preferences and choices of customers, increasing frequency of celebrations are among other factors boosting the consumption of sparkling wine in North American countries. In addition to the growing trend and will of celebrating small occasions such as wedding ceremonies, anniversaries, birthdays, thanksgiving, and baby showers, the practice of gifting premium wine varieties during such occasions is also triggering the sales of these wine products in the region. Additionally, the trend of going out on dates and fancy dinners is also expected to propel the market growth during the forecast period. North America is one of the lucrative regions for the manufacturers of sparkling wines, and the import volumes of sparkling wine in the region is increasing rapidly. Thus, the presence of a potential customer base with a strong affinity toward sparkling wine is opening immense growth opportunities for sparkling wines manufacturers. Rise in Popularity of sparkling wine is the major factor driving the growth of the North America sparkling wine market.
The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the food & beverage industry in the region due to restricted supply chain. In addition, lockdown, social distancing, shutdown of various supermarkets and hypermarkets, coupled with the overall disruptions in manufacturing process, supply chain disintegration, shortage of raw materials, and other factors have impacted the operations of various industries across the region leading to a significant drop in demand for sparkling wines. However, remarkable success of vaccination drives across the region is projected to have a positive impact on business activities and the economy, which is projected to favor the growth of sparkling wines market in North America over the forecast period.
Strategic insights for the North America 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$ 8,855.66 Million |
| Market Size by 2028 | US$ 11,902.84 Million |
| Global CAGR (2021 - 2028) | 4.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 8,855.66 million in 2021 to US$ 11,902.84 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The increasing practice of consuming vintage wine on special occasions and surge in the acceptance of wine are the key factors supporting the expansion of the sparkling wines market in several economies such as Canada. For instance, wine consumption in the region has risen steadily in the 21st century due to high popularity and availability of sparkling wine varieties, especial through online retail channels. Canada is scaling up its domestic wine production. Its vineyard acreage more than doubled during 2006–2016. While most of that land is being utilized for growing table grapes, wine production is gradually increasing. Moreover, international winemakers are seeking entry into the market, and they are altering their winemaking styles and adjusting their packaging designs to appeal to the local consumers. The rising consumption of grape wine is also providing opportunities for the local manufacturers. People have started adopting the tradition of popping champagne corks on special events such as completing new deals, earning large profits, corporate parties, and weddings and receptions. This has resulted in the expansion of the sparkling wine market in the country. Thus, several countries are providing enormous opportunities for the sparkling wines market players across North America.
The North America 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 North America 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; Bronco Wine Co.; Chandon; Constellation Brands, Inc.; Henkell Freixenet; Pernod Ricard Winemakers; Schramsberg Wineyards; and Treasury Wine Estates Ltd are among others.
The North America Sparkling Wine Market is valued at US$ 8,855.66 Million in 2021, it is projected to reach US$ 11,902.84 Million by 2028.
As per our report North America Sparkling Wine Market, the market size is valued at US$ 8,855.66 Million in 2021, projecting it to reach US$ 11,902.84 Million by 2028. This translates to a CAGR of approximately 4.3% during the forecast period.
The North America 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 North America Sparkling Wine Market report:
The North America Sparkling Wine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Sparkling Wine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Sparkling Wine Market value chain can benefit from the information contained in a comprehensive market report.
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