Prosecco Market Size, Share, Growth, and Industry Analysis, By Types (Spumante, Frizzante, Others) , Applications (Offline Sales, Online Sales) and Regional Insights and Forecast to 2032

Prosecco Market Size

The Global Prosecco Market was valued at USD 242.22 million in 2023 and is projected to reach USD 266.68 million in 2024, expanding to USD 575.36 million by 2032, growing at a CAGR of 10.1% during the forecast period (2024-2032).

The US Prosecco Market is anticipated to be a major contributor to this growth, driven by the increasing popularity of Prosecco as an affordable, high-quality sparkling wine choice among consumers. Rising demand from millennials, along with expanding distribution channels and marketing efforts targeting premium consumers, will support the continued expansion of Prosecco in the region.

Prosecco Market Growth

The global Prosecco market has experienced significant growth over the past decade and is expected to continue expanding in the coming years. This sparkling Italian wine, made primarily from the Glera grape, has captured the attention of consumers worldwide due to its affordable pricing, light and refreshing taste, and versatility. As a result, Prosecco has positioned itself as a dominant player in the global sparkling wine market. The Prosecco market growth is driven by the rising demand for sparkling wines, particularly in regions like North America, Europe, and Asia Pacific, where Prosecco is gaining popularity over traditional champagne. Prosecco’s appeal lies in its affordability compared to champagne, making it a more accessible option for a broader consumer base.

In addition, the increasing trend of casual drinking, social gatherings, and celebrations has contributed to the increased consumption of Prosecco. With its mild sweetness and crisp character, Prosecco has become a preferred drink at various occasions, from casual dinners to upscale events. Another important factor contributing to the market growth is the expanding availability of Prosecco in international markets, facilitated by increasing export activities and distribution networks. Prosecco’s versatility in both traditional and modern cocktail recipes has also increased its appeal among younger consumers who are exploring new drink experiences.

Moreover, innovation in product offerings, such as Prosecco with lower alcohol content or organic Prosecco, has further fueled market growth. This innovation is catering to changing consumer preferences for healthier, more sustainable, and natural options. The growing focus on premiumization has also played a role in the market's expansion, with consumers willing to pay a premium for high-quality Prosecco from renowned producers in Italy. As a result, the Prosecco market continues to witness growth, driven by evolving consumer preferences, increasing global consumption, and continuous product innovation.

Prosecco Market Trends

The Prosecco market is witnessing several trends that are shaping its future growth. One of the most notable trends is the increasing demand for premium Prosecco. As consumers’ palates become more sophisticated, there is a noticeable shift toward high-end Prosecco options, particularly from the DOCG (Denominazione di Origine Controllata e Garantita) region of Italy, known for producing the highest quality Prosecco. Premiumization is driving both volume and value sales in the Prosecco sector, with many consumers now seeking out superior quality offerings rather than opting for the more budget-friendly variants.

Additionally, sustainability is becoming a significant trend in the Prosecco market. Producers are increasingly focusing on sustainable viticulture practices, including organic farming, reducing the carbon footprint, and using environmentally friendly packaging. The demand for organic Prosecco is rising as more consumers seek natural and eco-conscious products. This trend is not only appealing to environmentally aware consumers but is also in response to the growing desire for clean-label products in the food and beverage industry.

Another trend impacting the Prosecco market is the innovation in flavor profiles and product offerings. In addition to traditional Prosecco, flavored versions, such as Prosecco with fruit infusions, are becoming more popular, especially among younger consumers. The rise of ready-to-drink Prosecco cocktails and spritz drinks also supports this trend, making it more convenient for consumers to enjoy Prosecco-based beverages on-the-go. Furthermore, the increasing popularity of Prosecco in non-traditional regions, such as parts of Asia and South America, is contributing to the market's global expansion. These trends highlight the evolving nature of consumer preferences and the opportunities for growth within the Prosecco market.

Prosecco Market Dynamics

Drivers of Market Growth

The Prosecco market is being driven by several key factors that are influencing its growth trajectory. One of the primary drivers is the growing global consumption of sparkling wines. Prosecco, with its affordable price point and approachable flavor, has gained a significant share of the sparkling wine market, especially in comparison to more expensive alternatives like champagne. Its versatility as a drink for a wide range of occasions, from casual to formal, has made it the go-to sparkling wine for consumers worldwide.

Another driver is the rising preference for healthier alcoholic beverages. Prosecco is often considered a lighter and less caloric option compared to other wines or spirits, appealing to health-conscious consumers. Additionally, the trend towards low-alcohol and alcohol-free drinks has led to the introduction of lower-alcohol Prosecco variants, catering to a market segment that prioritizes moderation. This shift in consumer preferences is contributing to the sustained growth of the market.

The expansion of distribution channels is another key driver of the Prosecco market's growth. Prosecco’s increasing presence in international markets, especially in North America and Asia, has boosted its global reach. Retailers, both online and offline, are making it easier for consumers to access Prosecco, and the rise of e-commerce platforms is also contributing to higher sales volumes. Furthermore, the growing trend of gifting alcoholic beverages, particularly during holidays and special occasions, has further fueled the demand for Prosecco. This multi-faceted growth driven by affordability, health-conscious consumption, and expanded distribution is helping Prosecco maintain its momentum in the global market.

Market Restraints

Despite the rapid growth of the Prosecco market, several restraints could hinder its long-term expansion. One significant challenge is the limited production area for authentic Prosecco, which is strictly regulated in Italy. The Prosecco DOC (Denomination of Controlled Origin) and DOCG (Denomination of Controlled and Guaranteed Origin) regions are the only approved zones where Prosecco can be produced. This limitation on production regions can result in supply constraints, potentially leading to higher prices and limiting the market's ability to meet increasing demand. As global interest in Prosecco continues to grow, these production restrictions may present a challenge for suppliers trying to scale up to meet demand.

Another restraint is the intense competition within the sparkling wine segment. While Prosecco has gained significant popularity, it faces competition from other sparkling wines, including champagne, cava, and new world sparkling wines from regions like Australia and New Zealand. These alternatives often have a similar appeal to Prosecco, and with champagne being traditionally seen as a more premium product, Prosecco’s lower price point may sometimes be perceived as an indicator of lower quality, which can limit its market penetration in premium sectors.

Furthermore, the growing concern around health and wellness could negatively impact the alcohol industry as a whole. Consumers becoming more health-conscious may seek to reduce alcohol consumption, which could limit the growth of the Prosecco market. In addition, fluctuations in raw material costs and the impact of climate change on grape production could lead to higher prices and supply chain disruptions, further affecting market dynamics.

Market Opportunities

The Prosecco market presents several opportunities that could propel its growth over the next few years. One of the primary opportunities is the increasing demand for Prosecco in non-traditional markets such as Asia-Pacific, South America, and the Middle East. As global consumption of wine, especially sparkling wine, rises, emerging markets are becoming significant contributors to the Prosecco market's expansion. As younger generations in these regions embrace Western lifestyle trends and socializing culture, the demand for Prosecco as a celebratory drink continues to grow.

Another key opportunity lies in the rising trend of product diversification. Prosecco producers can tap into consumer demand for innovation by offering variations like organic Prosecco, reduced-alcohol versions, and flavored Prosecco. These innovations can appeal to a broader audience, especially health-conscious consumers looking for lighter or more sustainable alternatives. The increasing popularity of sparkling wine-based cocktails also presents opportunities for Prosecco producers to collaborate with the cocktail industry, further enhancing its visibility and consumption among younger demographics.

Furthermore, with a growing number of consumers interested in premium and high-quality products, there is an opportunity to promote Prosecco as a luxury product. Marketing Prosecco from renowned producers in regions like Veneto and Friuli Venezia Giulia could help to position it as a sophisticated, high-end offering, which can boost its appeal in the premium wine sector.

Market Challenges

While the Prosecco market is poised for growth, several challenges could impact its trajectory. One of the most pressing challenges is the impact of climate change on grape cultivation. Prosecco production relies heavily on the climate conditions of its designated growing regions in Italy. Unpredictable weather patterns, such as droughts, excessive rainfall, or early frosts, can negatively affect grape yields and quality, potentially resulting in lower production volumes and higher prices for consumers. This unpredictability poses a significant challenge to producers who rely on stable and favorable weather conditions to maintain a consistent product.

Another challenge for the Prosecco market is the potential for market saturation. As more producers enter the market, particularly from outside of Italy, the competition in the sparkling wine sector intensifies. This could lead to an oversupply of Prosecco, particularly in low- and mid-tier price segments, potentially driving down profit margins and making it difficult for individual producers to stand out in a crowded marketplace.

Additionally, changing consumer preferences, particularly among millennials and Gen Z, may challenge traditional marketing approaches for Prosecco. These generations are increasingly attracted to products that emphasize sustainability, organic ingredients, and clean labels. Producers who do not adapt to these demands may struggle to retain market share. Finally, the global economic uncertainty and potential regulatory changes related to alcohol consumption in various regions could pose risks to the market, affecting both production and consumption patterns.

Segmentation Analysis

The Prosecco market is segmented based on various factors, including product type, distribution channel, and region. By product type, Prosecco is primarily classified into Brut, Extra Dry, and Dry variants. The Brut Prosecco is characterized by its dry taste, which has gained popularity among consumers who prefer less sweetness. Extra Dry Prosecco, known for its balanced sweetness and dryness, is the most widely consumed, appealing to a broad audience. The Dry Prosecco, which has a higher level of sweetness, is typically preferred by those looking for a more approachable and fruity sparkling wine.

The Prosecco market is also segmented geographically into regions such as North America, Europe, Asia-Pacific, and the Middle East & Africa. Europe remains the largest market for Prosecco, with Italy being the primary producer. However, North America and Asia-Pacific are emerging as key markets, fueled by the growing popularity of sparkling wines in these regions. The segmentation of the market allows for targeted strategies to meet consumer demands across various regions and demographics, enabling producers to focus on specific market niches for growth.

By Type

Prosecco is available in different types, each catering to specific consumer preferences. The main types of Prosecco are Brut, Extra Dry, and Dry, with each offering varying degrees of sweetness and dryness. Brut Prosecco is the driest variant, containing less than 12 grams of residual sugar per liter. It is favored by consumers who prefer a crisp, refreshing taste with a clean finish. Extra Dry Prosecco, on the other hand, is slightly sweeter, containing between 12 and 17 grams of sugar per liter, making it the most popular choice among consumers for its balanced taste. Dry Prosecco has a more noticeable sweetness, with sugar content exceeding 17 grams per liter, appealing to those who enjoy a fruitier, more approachable sparkling wine.

These variations allow Prosecco producers to cater to a diverse range of consumer tastes and preferences. The demand for Extra Dry Prosecco is particularly strong in markets like North America and the UK, where it is commonly served as an aperitif or in sparkling cocktails. However, Brut Prosecco is gaining traction among more discerning wine drinkers who prefer a less sugary option. As consumers continue to explore different flavor profiles, Prosecco producers are likely to introduce more customized products to meet the evolving needs of the market.

By Application

Prosecco is consumed across various applications, from casual social gatherings to formal events. The most common application is as a celebratory drink, typically consumed during holidays, weddings, and special occasions. Its effervescence and light, refreshing flavor make it a popular choice for toasting and raising a glass at events. Additionally, Prosecco is increasingly used as a base for cocktails, such as the popular Aperol Spritz or Bellini, making it an essential ingredient in the modern cocktail scene.

The versatility of Prosecco is another factor that contributes to its widespread appeal. It is also used in culinary applications, such as in cooking or as an ingredient in various dishes, where it adds a unique flavor and effervescence. This expanding range of uses helps Prosecco appeal to a broader audience, not only as a drink but also as a key component in lifestyle and social experiences.

Prosecco Market Regional Outlook

The global Prosecco market shows varied dynamics across different regions, with key regions contributing to its growth and presenting unique opportunities and challenges. Europe remains the largest market for Prosecco, particularly in countries like Italy, the UK, and Germany, where Prosecco is an integral part of the sparkling wine culture. The market's rapid growth in North America, driven by rising interest in sparkling wines, presents substantial opportunities for brands to expand their presence. Additionally, the Asia-Pacific region is emerging as a key market due to changing consumer preferences and the adoption of Western drinking habits. In the Middle East and Africa, Prosecco's popularity is on the rise, though market growth is slower due to cultural and regulatory factors. Each of these regions offers distinct prospects for producers and distributors of Prosecco to tap into an expanding global market.

North America

In North America, the Prosecco market has experienced robust growth, particularly in the United States, where the demand for sparkling wines has surged in recent years. Prosecco has become a popular alternative to champagne, especially among younger consumers seeking a more affordable, yet sophisticated, sparkling wine option. The rising trend of casual and celebratory drinking occasions, such as brunches and social gatherings, has further bolstered Prosecco's appeal. The growing preference for Prosecco in the ready-to-drink cocktail sector also presents additional growth opportunities for producers.

Europe

Europe remains the largest market for Prosecco, with Italy being the primary producer and exporter of this sparkling wine. The Prosecco DOC and DOCG regions in Italy continue to dominate the production of authentic Prosecco. Outside Italy, the UK is one of the largest consumers of Prosecco, where it has gained a significant market share, particularly during celebratory occasions and festive seasons. Other European countries, such as Germany and France, also show growing interest in Prosecco, further contributing to its overall growth in the region.

Asia-Pacific

The Asia-Pacific region is witnessing an increasing demand for Prosecco, driven by changing lifestyles, rising disposable incomes, and growing acceptance of Western drinking habits. Countries such as Japan, China, and India have seen a rise in consumption, particularly among younger urban consumers who are exploring international beverage trends. The increasing popularity of sparkling wines in luxury dining establishments and social events has contributed to Prosecco's growing presence in this region. However, market penetration remains in its early stages, and there are substantial opportunities for brands to expand their presence.

Middle East & Africa

The Prosecco market in the Middle East and Africa is growing, although at a slower pace compared to other regions. Cultural and regulatory factors in some countries, where alcohol consumption is restricted or heavily regulated, limit the market’s potential. However, in countries like the UAE and South Africa, Prosecco is becoming increasingly popular, particularly in high-end restaurants, hotels, and social gatherings. 

List of Key Prosecco Companies Profiled

• Adami
• Bottega Spa
• Sorelle Bronca
• Col Vetoraz
• Il Colle
• Josh Cellars
• La Marca Prosecco
• Mongarda
• Santa Marina
• Val de Cune
• Vera Wang Party
• Zardetto
• Tesco Groceries
• The Emissary
• Sacchetto
• Ruffino
• Carpenè Malvolti
• Mionetto
• Zonin
• Chloe
• Cupcake Vineyards
• Bartenura

COVID-19 Impacting Prosecco Market

The COVID-19 pandemic significantly impacted the global Prosecco market, as it did with many sectors of the beverage industry. During the initial stages of the pandemic, the closure of bars, restaurants, and social venues, combined with lockdowns and restrictions on public gatherings, led to a sharp decline in demand for Prosecco. Celebratory and social drinking occasions, which typically drive Prosecco sales, were severely limited. Additionally, the disruption of international travel and tourism caused a reduction in the consumption of Prosecco in key markets, such as Italy, the UK, and the US, where tourism plays a substantial role in sparkling wine sales.

However, as restrictions eased and consumer behavior began to shift, the market saw a recovery. The growth of online sales channels helped mitigate some of the losses, with consumers purchasing Prosecco for home consumption. Furthermore, the renewed interest in casual home gatherings and virtual events contributed to a revival of Prosecco demand. While the pandemic caused short-term disruption, the market has demonstrated resilience, and consumption is now stabilizing, with Prosecco continuing to remain a popular choice among sparkling wine enthusiasts.

Investment Analysis and Opportunities

The Prosecco market presents several investment opportunities for stakeholders across its value chain, including producers, distributors, and retailers. One of the primary opportunities lies in the expansion of Prosecco’s footprint in emerging markets. Regions such as Asia-Pacific, Latin America, and the Middle East show significant potential for growth, driven by changing consumer preferences, rising disposable incomes, and increasing adoption of Western drinking habits. These markets, where Prosecco’s penetration is still in its early stages, offer a promising avenue for new product introductions and brand expansions.

Investors can also capitalize on the premiumization trend within the Prosecco market. As consumers become more discerning and seek higher-quality products, there is a growing demand for Prosecco from DOCG regions, known for producing premium variants. Investing in high-end Prosecco production or distribution can yield substantial returns, particularly as affluent consumers seek premium wine experiences. Additionally, the increasing demand for organic and low-alcohol Prosecco presents opportunities for producers to tap into the health-conscious and environmentally aware consumer base.

The market’s potential for growth also makes it attractive to strategic acquisitions, partnerships, or collaborations between established wine companies and emerging Prosecco producers. Furthermore, the digitalization of wine sales and the expansion of e-commerce platforms offer investors an avenue to tap into the growing online wine retail space.

Recent Developments

• Prosecco exports from Italy saw a significant increase in 2023, with demand expanding across international markets, particularly in North America and Asia-Pacific.
• Leading Prosecco producers have started embracing sustainable farming practices, including organic farming and reducing the environmental footprint of their production methods.
• Several Prosecco brands have introduced lower-alcohol or alcohol-free options, catering to the growing health-conscious consumer base and meeting demand for lighter alcoholic beverages.
• Prosecco has gained increased popularity as a base for ready-to-drink cocktails, leading to new product launches and collaborations with cocktail brands.
• The DOCG regions of Italy have introduced more stringent quality controls and certifications to promote the premiumization of Prosecco and distinguish high-quality products from mass-market offerings.
• In response to shifting consumer preferences, producers have innovated with flavored Prosecco variants, such as Prosecco with fruit infusions, to appeal to younger and trend-focused consumers.
• Major international retailers have expanded their Prosecco offerings, with a focus on showcasing premium brands and limited-edition products to cater to the growing demand for luxury sparkling wines.
• The rise of virtual wine tastings and online sales has led to increased Prosecco consumption at home, with direct-to-consumer shipping models gaining traction.

REPORT COVERAGE of Prosecco Market

This comprehensive report on the Prosecco market provides in-depth analysis and coverage across key segments, regions, and market dynamics. It includes a thorough examination of the market’s size, growth projections, and trends, offering valuable insights into factors driving the market’s expansion and challenges that may hinder its growth. The report delves into key market drivers such as the increasing popularity of sparkling wines, premiumization trends, and evolving consumer preferences. It also explores market restraints, including supply limitations, competition from other sparkling wines, and the impact of climate change on grape production.

Regional analysis is another crucial component of the report, providing a breakdown of market performance across North America, Europe, Asia-Pacific, the Middle East, and Africa. The report highlights the growth potential in emerging markets and discusses the opportunities and challenges faced by producers in these regions. Investment analysis is included to help investors understand the opportunities available within the Prosecco market, particularly in terms of geographic expansion, premium product offerings, and innovation in product types.

In addition, the report profiles key players in the Prosecco market, providing detailed company profiles, strategies, and insights into their market position. This information is valuable for understanding the competitive landscape and the strategies employed by leading Prosecco producers to maintain and enhance their market share. The report also includes a review of recent developments, such as new product launches, market expansions, and mergers and acquisitions, to give stakeholders a clear view of the current state and future prospects of the Prosecco market.

NEW PRODUCTS

The Prosecco market has seen an influx of new product innovations designed to meet evolving consumer preferences and tap into new trends. One of the most notable new products in recent years has been the introduction of organic Prosecco. As demand for organic and sustainably produced beverages grows, many Prosecco producers have launched organic versions of their sparkling wine. These products are made from grapes grown without the use of synthetic pesticides or fertilizers, appealing to environmentally conscious consumers who are seeking more sustainable wine options. Organic Prosecco caters to a growing segment of health-conscious and eco-aware consumers who prioritize sustainability in their purchasing decisions.

Additionally, there has been a surge in the development of low-alcohol and alcohol-free Prosecco. As the global trend toward healthier lifestyles continues, many consumers are seeking beverages that offer the same flavor and experience as traditional Prosecco, but with reduced alcohol content. Alcohol-free Prosecco is gaining traction, particularly in markets like the UK, where the demand for non-alcoholic alternatives is rising. These products are designed to provide the same crisp, refreshing taste that Prosecco enthusiasts enjoy, but without the effects of alcohol, catering to those who prefer to moderate their alcohol consumption.

Another innovative product development in the Prosecco market is the growth of premium Prosecco offerings. Producers are focusing on high-quality, small-batch wines, often from the DOCG regions of Italy, to create premium products that appeal to affluent consumers looking for a more refined drinking experience. These premium options are marketed as luxury items and are positioned as a sophisticated alternative to traditional sparkling wines, further driving the premiumization trend in the Prosecco market.

Finally, Prosecco-based cocktails and pre-mixed drinks are becoming increasingly popular. Ready-to-drink Prosecco cocktails, such as the classic Bellini or Spritz, offer convenience and appeal to busy consumers who seek an easy way to enjoy Prosecco-based beverages without the need for additional preparation. These products are often sold in single-serve bottles or cans, catering to the growing trend of portable and on-the-go beverages.