Tuesday, February 27, 2024

Canada: Sparkling wine is good, Prosecco is strong

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More than 50 percent increase in demand Canadian sparkling wine In the last five years. And it is expected to expand by three more in the next five years. The Prosecco Ride the wave and, according to me IWSR dataIt went from almost one in five bottles of sparkling wine in 2016 to more than one in three in 2021. He writes it WineMeridian.

According to data from Alcohol IntelligenceThere has been a 21 percent growth in sparkling wine consumers over the past three years, with a major expansion in popularity among millennials, with nearly one million new consumers entering the 25- to 39-year-old segment in 2019. Old, in 2022, they represent 42 per cent of sparkling wine consumers compared to 37 per cent in 2019. The number of Canadian sparkling wine consumers who consume it once a week has increased from 16 in 2019 to 25 per cent in 2022.

From a formal context, even in Canada, we drink sparkling wine on more relaxed occasions. So the occasions of consuming it have increased. Prosecco, along with sparkling rosé, has high consumption events and is associated with informal social situations, as well as celebrations. 46 percent of sparkling wine drinkers consider Prosecco a “good drink for celebrations,” with a similar number considering it “perfect for a party.”

Competitive pricing plays a decisive role in sparkling wine consumption in Canada; Although Prosecco has been overtaken by sparkling wines from Canada, the US and other countries, a third of consumers believe Prosecco has a better quality-price balance. Brand awareness and recommendations from friends and family also score high. “Brand I know” is the number one factor behind buying a prosecco-based product, while “recommendations” is second. And, among millennials, no sparkling wine is considered more fashionable than prosecco.

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Rising inflation and a global financial slowdown threaten the sector, which could impact sparkling wine consumption.

Bruno Lawrence
Bruno Lawrence
"Total coffee junkie. Tv ninja. Unapologetic problem solver. Beer expert."
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