After the plummet in the sales and production of sparkling wine, a tally of almost 80% rise is led by UK’s growing demand for Prosecco and Cava in the span of five years according to UHY Hacker Young. Sparkling magnum sales also increased by 140%.
Within 12 months with its ending period last May 2016, around 31.6 million gallons of sparkling wine were produced as shown by HM Revenue and Customs’ figures. The increasing demand for Prosecco and Cava who are two of the most popular types of reasonably priced sparkling wine with variants sold at £10 or less has produced almost 191 million bottles of sparkling wine since 2011.
Most of the production of the said products was imported from wine-producing nations such as France, Spain, and Italy while more and more are now being produced and made in their homes.
Earlier this month, an English 2010 sparkling vintage was called a “landmark moment” and has appeared in Liv-ex, a fine-wine trading platform for the first time.
Meanwhile, thirty-seven wine vineyards and producers opened in England last 2015 one of the signs that showed the ever-growing and increasing home-grown products.
More income for vineyard producers
Hacker Young partner James Simmonds mentioned a “great boost” in the new figures for the producers in Britain whose products has proved to be “viable alternatives”.
“Vineyards provide businesses with numerous opportunities to diversify and offer additional services such as shops, cafes, wine tastings, events and weddings as well as producing wine.” said Young who mentioned the advantages of these new ways for the producers and makers to support their incomes further in the middle of waiting for their vineyard wine to mature.
Despite the forecast for Prosecco and Champagne imports being unclear due to Brexit, Simmonds has assured that there is a steady future for sparkling wine as it is already a practical alternative for most consumers.
By this year until 2019, the consumption and the demand for the product are likely to go up by 13% which is comparable to the 0.6% growth of wine.
Just this year, a £ 1 billion mark was hit by the sparkling wine sales in the on-trade on a two-year comparison basis and a 20% increase in the volume sales of Prosecco who is now responsible for almost fifty-percent of Britain’s sparkling wine retailers.
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