(RaboBank) -Europe’s three major producers (the Champagne region, Italy and Spain) supply roughly 80% of global trade volumes of sparkling wine, and this export trade has become increasingly important as demand and pricing has steadily deteriorated in main stay domestic markets. As price conscious consumers in traditional European markets have sought to explore the value on offer for champagne at lower price points, previously overshadowed wines such as prosecco and cava have made a strong comeback in the European and US markets.