Sparkling Wine Market Introduction
Sparkling Wine contains a significant amount of carbon dioxide which gives a bubbly effervescence to it. Sparkling Wine is produced by the double fermentation process due to which the carbon dioxide gas is formed. The first fermentation process usually takes place in the steel tanks, and the second fermentation takes place in the bottle. One of the best known sparkling wine is the Champagne, which is particularly produced in the Champagne region of France. Sparkling wine is mostly used in celebrations, success, luxury, and various other occasions. It can be alcoholic and non-alcoholic in nature and is consumed by all age group.
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Sparkling Wine Market Drivers, Trends, and Drivers
According to the recent trends of premiumization, alcohol consumers are preferring sparkling wine instead of any other alcoholic drinks for celebrations and occasions. Following the recent past activities in various regions in the world, it can be concluded that consumption of sparkling wine has become an accompaniment for a number of reasons. In many developed regions such as Europe, Canada, the U.S., alcohol and sparkling wine is a socially accepted part of their daily life. Younger population of the world is influenced by their peer group or peer thinking, which is a factor driving the growth of sparkling wine market. Changing lifestyles, the influence of social media and Internet, increasing social parties, adolescents with high social network influence, greater family incomes, and others have easier access to alcoholic and non-alcoholic drinks, which is also driving demand for sparkling wine. Moreover, globally, the gender gap in terms of alcohol consumption is closing as there is increasing acceptance of female drinking in the societal norms. Because of all these factors, people are attracted towards alcohol, which is driving the growth of the sparkling wine market and this is expected to continue over the forecast period.
In spite of the growing trends of alcohol consumption and product premiumization, the high cost of various sparkling wine inhibits alcohol consumers to buy it which in result restraining the sparkling wine market to grow.
Sparkling Wine Market Key Players
The rise of demand for the Sparkling Wine in the various region is attracting key players to produce and sell sparkling wine in the market. Some the key players are ILLINOIS SPARKLING CO., The Sparkling Wine Co., Moët Hennessy USA, LANSON-BCC, Pernod Ricard, CALIFORNIA CHAMPAGNES, English Wine Producers, The Oxford Wine Company Limited, and others.