Rabobank’s global Food and Agribusiness Research and Advisory department published a new report on the wine industry predicting that sparkling wine will continue to face challenging consumption trends in traditional European markets and the growth of emerging economies will provide support for the leading suppliers of champagne outside Europe and the U.S. Previously overshadowed wines such as prosecco and cava have made a strong comeback as European markets are exploring the offer of champagnes at lower price points. In the UK consumption of sparkling wines is just short of its historical high while consumption of non-sparkling wines is down 9% from its peak. In the U.S. Italian and Spanish sparkling wines are experiencing growth because of lower price points. Demand for traditional champagne has been gaining however in Russia, Brazil, China, Mexico and Nigeria as well as Japan, Canada and Australia. The report also discusses updates on production and marketing trends, import trends for U.S. markets, bulk wine pricing and a forecast for key currencies in the wine sector.