(ESMMagazine) - The Italian spumante sparkling wine industry is expected to reach €1.2 billion in export sales for 2016, as it grows as the expense of rivals such as France and Spain.

This is according to a study by Wine Monitor è l'Osservatorio di Nomisma. Exports of Italian sparkling wines grew by approximately 25% last year, thanks to burgeoning Prosecco sales.

The French market remains the leader in terms of sparkling wine exports, which were valued at €2.7 billion in 2015, but declined by approximately 1% last year.

Spanish sparkling wine exports also saw a decline last year, by approximately 3%