United Kingdom: Sparkling Wine Market 2024

Sparkling Wine Market Size in the UK

The UK sparkling wine market rose sharply to $X in 2022, picking up by 14% against the previous year. Overall, consumption saw a pronounced decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sparkling Wine Production in the UK

In value terms, sparkling wine production contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production faced a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 69%. Sparkling wine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sparkling Wine Exports

Exports from the UK

In 2022, overseas shipments of sparkling wine increased by 47% to X litres, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a moderate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 58%. As a result, the exports reached the peak of X litres. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, sparkling wine exports soared to $X in 2022. Overall, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium (X litres), Denmark (X litres) and France (X litres) were the main destinations of sparkling wine exports from the UK, with a combined 50% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +44.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sparkling wine exported from the UK were Japan ($X), Hong Kong SAR ($X) and the United States ($X), together accounting for 44% of total exports. Denmark, Belgium, France, Norway, China, Ireland, the Netherlands, the United Arab Emirates, Sweden and South Africa lagged somewhat behind, together accounting for a further 37%.

Denmark, with a CAGR of +51.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sparkling wine export price amounted to $X per litre, with a decrease of -4% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sparkling wine export price increased by +48.7% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 35% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per litre in 2021, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per litre), while the average price for exports to South Africa ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into the UK

Sparkling wine imports into the UK contracted modestly to X litres in 2022, declining by -2.6% against the previous year. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 21%. Over the period under review, imports hit record highs at X litres in 2021, and then fell in the following year.

In value terms, sparkling wine imports surged to $X in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Italy (X litres) constituted the largest sparkling wine supplier to the UK, with a 73% share of total imports. Moreover, sparkling wine imports from Italy exceeded the figures recorded by the second-largest supplier, France (X litres), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.4% per year) and Spain (-10.0% per year).

In value terms, the largest sparkling wine suppliers to the UK were France ($X), Italy ($X) and Spain ($X), together comprising 99% of total imports.

Italy, with a CAGR of +17.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average sparkling wine import price amounted to $X per litre, increasing by 22% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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