Spanish and Italian bubbles continue to top Champagne worldwide
Wednesday 06 October 2010
On October 5, the International Wine & Spirit Research (ISWR) and just-drinks.com jointly published the "Global Market Review of Sparkling Wine - Forecasts to 2015" report detailing the global demand for bubbles.
"The continuous growth of non-Champagne sparkling wine has been one of the less well-publicised developments of the wine world," found ISWR/just-drinks.com.
"The global non-Champagne sparkling wine market has risen by around 2.6% CAGR [compound annual growth rate] between 2004 and 2009 to reach 169.2m nine-litre cases. Even last year in the throes of the global recession, sparkling wine outperformed most global categories, falling by just 0.9%."
To provide some context, "champagne sales by comparison fell by 3.6%. Markets such as the United States, Australia, France and Russia have seen growth throughout the past few years."
In July ISWR surmised in their Snapshot Trends Report 2010 the demand for Spanish and Italian bubbles was based on the global economic crisis: "An obvious example of trading down is the correlation between the huge falls in Champagne and the uptake in many markets of lower-priced alternatives such as prosecco and cava."
Italians are working to capitalize on this trend by implementing trademarks on Italian-grown sparkling wine.
The Prosecco Council has been successful in Europe and Australia with an eye on Brazil.
According to just-drinks.com, Aldo Franchi, the director general of the producers association Cantina Produttori di Valdobbiadene added, "Very few producers suffered in 2009 because of the recession. Most were able to maintain their volumes, although profits were trimmed."
And, in 2009 exports of Prosecco "exceeded domestic consumption for the first time according to the Italian farmers' union Coldiretti."
Additionally Hong Kong expects to witness continued growth in the sparkling wine market at the third annual Hong Kong International Wine and Spirits Fair taking place November 4-6. In 2009, exhibitors doubled from 2008 and included 34 sparkling wine regions worldwide.
To learn more about the fair, go to: http://www.hktdc.com/fair/hkwinefair-en/HKTDC-Hong-Kong-International-Wine-and-Spirits-Fair.html
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