Prosecco has become the best-selling sparkling wine in the world by volume, with sales skyrocketing ahead of Champagne.
The popular bubbly white wine, made in the north-eastern hills of Italy, has gained global popularity while the market share of Champagne is eroding, experts say. This could be because of the French wine having a much higher price tag, resulting in a more difficult winemaking process.
What are the sales like?
Prosecco’s production surpassed Champagne for the first time five years ago and the Italian wine now has sales topping 75% more than Champagne at 544 million bottles.
However, due to the hefty price tag of Champagne, it helps the wine stay at the top of revenues. The sales of Champagne have cashed in a record of 4.9 billion euros last year on 307 million bottles, compared to Prosecco that revenues at 804 million.
The lower price tag of Prosecco has helped play a big role in its bursting popularity, and has had an increase of 40% in sales. The average production cost of the Italian bubbly is 3.70 euros per bottle, whereas Champagne averages at 10.24 euros per bottle.
The wine’s success
The producers of prosecco have been taken by surprise by their wine’s popularity. Armando Serena, head of the Asolo Consortium of Prosecco makers, has said:
“As the old innkeepers used to say, even the fountain outside the bar is competition. But it is certainly not a phenomenon that we expected. It is cause for reflection for (Champagne producers) perhaps.”
There has been a growing competition between the two sparkling wines.
“The quality of Champagne at the moment has never been higher because it has to be. The danger is the competition, so it has to be better,” Michael Edwards, an expert wine judge for Decanter magazine, said.
What do you think of the increasing sales of Prosecco?
Like the producers, were you taken back by the wine’s success? Let us know what you think in the comments below!
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