Iconic Brands: Prosecco and sparkling rosé wines are on the rise

Prosecco and sparkling rosé wines have registered high growth rates in sales, noted Iconic Brands.

According to Euromonitor International, a leading provider of global business intelligence, market analysis and consumer insights, in 2019, the “high end” and “super premium” categories experienced higher sales growth than the “premium” and “value” categories.

Within the wine category, Iconic Brands referred, there has been a shift in consumer behavior toward sparkling wine and rosé.

Iconic Brands expounded that this shift in consumer behavior toward premium offerings, sparkling wines and the search for new experiences continued in 2020 and is expected to continue in the coming years.

Despite a challenging Covid-19 environment, the alcohol e-commerce industry is seeing continued growth.

According to IWSR, a leading source of global beverage alcohol market data and research, U.S. alcohol e-commerce approached approximately $5.6 billion in 2020, up from approximately $3 billion in 2019.

This growth was largely driven by the omnichannel segment, as supermarkets and traditional retailers have sought to rapidly improve their online offerings.

Iconic Brands

Iconic Brands is dedicated to developing and selling alcohol and non-alcohol brands that are “better for you” and “better for the planet.”

According to Statista, a leading research firm for a range of consumer goods markets, the U.S. alcoholic beverage market was valued at approximately $255 billion in 2021 and is expected to grow 5.92% annually between 2021 and 2025.

Recent market data shows that between 2011 and 2019, sales increased 30%, with an average increase of approximately 4.3% annually.

Much of this growth is attributed to a shift toward spirits; sales in the spirits category have increased substantially since 2018, with sales growth averaging more than 13% annually.

According to Euromonitor Internationals, starting in 2021, the spirits market will begin to recover after the pandemic’s effect on sales in 2020.

Spirits are expected to return to positive growth in 2021.

Compared to previous years, there will be more drinking occasions at home and e-commerce sales will continue to grow.

Within the wine category, sparkling wine is expected to record the highest compound annual growth rate (CAGR) in total volume, indicating that this category will be well positioned for recovery after Covid-19.

 

Redacción Opportimes

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