North America Sparkling Wine Market 2021–2028: Market Dynamics & Forecast
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.
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The sparkling wines market in Canada is experiencing significant growth, driven by several key factors. A notable trend is the incr... moreNorth America Sparkling Wine Market 2021–2028: Market Dynamics & Forecast
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.
Get Full Report: https://www.businessmarketinsights.com/reports/north-america-sparkling-wine-market
The sparkling wines market in Canada is experiencing significant growth, driven by several key factors. A notable trend is the increasing practice of consuming vintage wine on special occasions and a general rise in the acceptance of wine among consumers.
Wine consumption in Canada has shown a steady upward trajectory throughout the 21st century. This surge is largely attributable to the widespread popularity and easy availability of various sparkling wine varieties, particularly through convenient online retail channels.
Furthermore, Canada is actively bolstering its domestic wine production. The country's vineyard acreage more than doubled between 2006 and 2016. While a significant portion of this land is dedicated to table grape cultivation, wine production is steadily increasing.
The Canadian market is also attracting international winemakers who are keen to establish a presence. These international players are adapting their winemaking styles and adjusting packaging designs to cater specifically to local consumer preferences. The growing consumption of grape wine, in general, is also creating valuable opportunities for domestic manufacturers.
A key cultural shift contributing to the sparkling wine market's expansion is the increasing adoption of traditions involving sparkling wine for special events. Popping champagne corks has become a common practice to celebrate milestones such as new business deals, significant financial gains, corporate gatherings, and weddings and receptions.
These combined factors indicate that Canada, along with other North American countries, presents substantial opportunities for players in the sparkling wines market.
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Market Introduction
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.
North America Sparkling Wine Market Segmentation
North America Sparkling Wine Market -By Type
White
Red
Rose
North America Sparkling Wine Market -By
Packaging type
Bottles
Cans
North America Sparkling Wine Market -By Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Online Retail
Others
North America Sparkling Wine Market -By Country
US
Canada
Mexico
North America Sparkling Wine Market -
Company Profiles North America Sparkling Wine Market
Bacardi and Company Limited
Bronco Wine Co.
Chandon
Constellation Brands, Inc.
Henkell Freixenet
Pernod Ricard Winemakers
Schramsberg Wineyards
Treasury Wine Estates Ltd
North America Sparkling Wine Market Strategic Insights
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.
North America Sparkling Wine Market Regional Insights
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.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
