LONDON, October 21, 2015 /PRNewswire/ --
The non-Champagne sparkling wine sector is set for a period of "healthy growth" over the next five years following the category's slowdown in 2014, according to recently-released research.
The joint-report from just-drinks and The IWSR - entitled 'Global sparkling wine insights - market forecasts, product innovation and consumer trends research' - predicts consumption will rise by some 17.5m nine-litre cases over the coming five years to 2018. The forecast increase comes on the back of a fall of 0.9% in 2014 for the segment, to 212m cases.
The majority of the growth will come from sparkling wine's four largest markets, the US, Germany, the UK and Russia.
"The US will be hugely important to the future growth of the category, along with traditionally large-scale markets such as Germany and the UK," the report states. Russia offers growth potential "if and when it overcomes its current economic challenges".
The UK, in particular, was described as a "star performer" in 2014, achieving 15% year-on-year growth and a compound annual growth rate (CAGR) of 9.4% between 2009 and 2014. The "spectacular" growth in prosecco is a prime factor behind the growth in the UK. Indeed, the competitively-priced Italian sparkler has been key to the sector's fortunes across a number of markets.
"Global interest in and demand for prosecco has been growing steadily in recent years, and it shows no signs of slowing," the report says. In 2013, global prosecco sales overtook those of Champagne for the first time.
The development of flavoured variations and the "reinvention" of the aperitif occasion in a growing number of markets have been critical to the sparkling wine sector's success in recent years, and are expected to remain central to the category's progress over the coming five years.
The principal challenge sparkling wine producers face is competition from rival categories such as flavoured spirits and ciders, the report warned, adding that continued innovation is "a must" if the category is going to continue to bring in new consumers.
Established in 1999, just-drinks is the online resource for the global beverage industry, publishing
around 20 news articles, analysis features and insights every working day. Under the direction of managing editor Olly Wehring, its experienced team of journalists, consultants and analysts provide a unique and comprehensive blend of reports and interpretation of the beverage industry, including key events, trends, interviews and research that are delivered to over 92,000 business executives per month.
Through its drinks industry analysis, research, news and CONSULT bespoke market research service, just-drinks offers insight into wine, beer, spirits, soft drinks, and bottled water industry developments, statistics and key supply-chain trends.
About The IWSR
The IWSR is the leading source of data and analysis on the alcoholic beverage market. The IWSR's database, essential to the industry, quantifies the global market of wine, spirits, beer and RTDs by volume and value, and provides insight into short- and long-term trends. IWSR statistics are used by all of the largest multinational wine and spirits companies, as well as many more local companies. The IWSR's unique methodology allows them to get closer to what is actually consumed and better understand how markets work. The IWSR conducts face-to-face interviews with 1,500 companies in 118 countries each year, with further input from 350 companies. The IWSR tracks overall consumption and trends at brand, quality and category level.
For details of how just-drinks is helping decision makers make decisions, visit just-drinks.com For further information and images please contact James Lawley, Public Relations at Aroq Limited on +44 (0)1527 573 606, email [email protected]
SOURCE just-drinks.com / The IWSR