Global Sparkling Wine Consumption Set to Grow 2% per Annum
According to the latest Vinexpo/IWSR report, sparkling wine sales are forecast to grow by an average 2% year-on-year to 2021.
The market will be driven predominantly by North America, but is also showing strong growth in the UK and Asia-Pacific countries such as Australia and Japan. Those two countries helped to push sparkling wine in Asia-Pacific to a total value of $2.79 billion in 2016 for 9 million cases.
By 2021 that figure is forecast to rise to $3.73 billion (15.8 million cases).
Prosecco will outstrip other major categories such as Champagne and Cava by 2021 when world Prosecco consumption is set to reach 40 million cases. In the UK, the world’s largest sparkling wine importer, Prosecco is an outstanding success. Nonetheless, the USA is expected to show the most growth in consumption of Prosecco by 2021, while remaining number two behind the UK.
Champagne’s shift in focus from Europe to emerging markets looks set to accelerate. Europe’s share of global Champagne volume is forecast to have decreased by 4 percentage-points on the 2021 horizon, from 80% recorded in 2016.
Again this year, Vinexpo will give an excellent cross-section of the sparkling wines market, and you’ll find some of the highlights in the next pages.