Prosecco is becoming very strong in Europe and, according to statistics, could soon reach and exceed sales of Champagne. For the last quarter of 2016, sales of Prosecco reached up to 789 million euros, while those of Champagne exceeded 1.4 billion. Analyzing the data at a glance, we could conclude that Prosecco is not even close to Champagne, but what we need to know to notice the trend is the percentage of growth that each of these drinks has been showing during the last years.
First, the value of Prosecco grows much faster than that of Champagne. In this period, this value had a growth of 24% compared to Champagne, which was barely 0.9%. On the other hand, speaking of volume, Prosecco increased its sales throughout Europe by 23%, which represent 77 million liters, while Champagne decreased its volume on the continent level by 0.3%.
Prosecco‘s favorite consumers include the UK, who consume 2.5 times more of the Italian drink and pay almost double the price per liter than the Italians themselves. More than three quarters of the Prosecco sold in Europe, were sold here, for a total of approximately 600 million euros, doubling the sales of Champagne that only reached 333 million, this despite the fact that Champagne reduced its prices by 7 % after the country votet to leave the European Union in June 2016.
One of the characteristics that has helped to increase sales of Prosecco is its “Magnum” bottling, which are larger than normal bottles for which people are willing to pay instead of buying 2 small bottles equivalent to the volume. The bigger the bottle, the better.
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