EXCLUSIVE: Sparkling Wine Drives Industry Growth In 2014January 5, 2015
Due to a still sluggish on-trade environment, the total U.S. wine market is estimated to have inched ahead a mere 0.3% in 2014, to volume of 321.8 million nine-liter cases, according to the current edition of The U.S. Wine Market: Impact Databank Review and Forecast. The sparkling wine segment paced industry growth, with an estimated volume gain of 3% to 16 million cases, accounting for a 5% share of the total wine market. Last year marked the sixth consecutive annual increase for sparkling wines, which suffered a temporary blow during the financial crisis of 2008.
Imported sparkling wines once again fueled the segment’s growth last year as they rose by 6.6% to 7.1 million cases, while domestic brands were estimated to be stable at 8.85 million cases. Import growth is being driven primarily by Italian offerings, particularly Prosecco. Freixenet USA’s flagship Cava and Bacardi’s Martini & Rossi remain the largest-volume imported sparkling wines—while Champagne brands Veuve Clicquot and Moët & Chandon lead in retail sales terms—but the fastest-growing import labels include Prosecco brands from Mionetto, La Marca, Zonin and Riondo.
On the domestic side, Constellation’s Cook’s, Gallo’s Andre and Brown-Forman’s Korbel remain the largest-selling brands by volume, but the segment received a boost in 2014 from Barefoot’s new Fusion line. According to IRI, a Chicago-based market research firm, sparkling wines grew 8.4% in volume terms for the year-to-date period ending November 30th. Imported sparklers grew 12.5% year-to-date, led by Italian brands (+17.5%) and Prosecco’s surge (+41.8%). IRI channels account for 40% of the total U.S. sparkling wine market by volume, as measured by Impact Databank.
For more information and to order The U.S. Wine Market: Impact Databank Review and Forecast, go to www.impactdatabank.com.
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Tagged : Andre, Bacardi, Barefoot, Brown-Forman, Constellation Brands, Cook's, E.&J. Gallo, Freixenet USA, Fusion, Korbel, La Marca, Martini & Rossi, Mionetto, Moet & Chandon, Riondo, Veuve Clicquot, Zonin