Spanish sparkling wine cava to experience slow growth, inspite of the economic slowdown |
Posted: July 2, 2014 |
Mumbai, India – June 30, 2014 – The period of recession did not bode well for the wine markets globally. In most of the key wine markets, the consumption fell, owing to very little disposable incomes in the hands of people. Especially in a country like Spain, with an increasingly conservative and saving consumer base faced with an economic turndown, the wine markets saw a trading down trend with a decline of 5% sales in 2012. However, despite the economic crisis having slowed down the wine markets, the industry is expected to continue to experience slow growth, given its worldwide demand. While in 2011, sparkling wines accounted for only 7.7% of all wines drunk in the world, the consumption is expected to grow to 8.52% between 2012 and 2016. The increase is primarily expected in the top four sparkling wine markets worldwide: Germany, Russia, US and France. The increased willingness to spend on good wine, especially amongst patrons of sparkling wine, strong demand of DOP and other premium varieties alongside the development of new markets have opened up significant sales opportunities for the Spanish still and sparkling wine markets.
This report: The Future of the Still and Sparkling Wine Market in Spain to 2018 shares an authoritative overview with granular details citing the prevalent market conditions for the still and sparkling wine market in Spain. The report dwells upon the market drivers and provides detailed product sales segmentation for volumes, as well as brand data and distribution channel data for 2010-2013, at each product category level.
Sparkling wine still enjoyed more than other alcoholic drinks The global demand for sparkling wines and champagne has been on the rise though many have been put off by the prices, thus reserving the drink as a luxury only for special occasions. Despite this, since sparkling wine are known to taste better and are enjoyed as an alcoholic beverage the world over, its overall consumption is expected to rise slowly though steadily, over the forecast period between 2014 and 2018. Having been hit by severe recession and growing health concerns, the Spanish sparkling and still wine markets are forecasted to decline by 0.4% even though the country had previously accounted for more than 8.7% of the global market consumption. However, market analysts believe that this slight drop will not affect the export oriented cava market in respect to its global positioning. As Spain coupled with France and Italy account for more than 80% of the global still and sparkling wine production, with the reduced domestic demand, the manufacturers are now exploring newer export markets, which are expected to sustain the Spanish still and sparkling wine segment.
Enjoying increased sales in US On the other hand, the popularity of moscato, cava and Prosecco, the Italian and Spanish sparkling wines are enjoying rising sales in America. Since these Spanish wines are easily accessible in terms of both flavor and price, and are versatile in taste, consumers and bars are both rapidly embracing these wines. The inclusion Spanish cava and sparkling wine based drinks in most leading chain restaurants have increased by 28%.
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