We don't mean to alarm you but your favourite bubbly may soon run out.

Image: Bridesmaids

It’s the drink that instantly transports you to the Italian coast, makes you feel a little bit fancy, and (most importantly) is more socially acceptable than Passion Pop but cheaper than champagne.

But in devastating news for prosecco lovers, those sunny fizz-filled afternoons could soon become a thing of the past as experts warn that stocks of the Italian favourite have dropped drastically.

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According to Robert Cremonese, export manager of Italian prosecco producer Bisol, a bad harvest is to blame – and as a result we could see prices of the Italian-grown fizz rise significantly if not disappear in just two months until a new harvest rolls around.

“Last year’s harvest was very poor, and down by up to 50 per cent in some parts. so there is a very real possibility of a global shortage,” he told magazine The Drinks Business. (Post continues after gallery)

Another wine seller told Harpers that increased demand was also responsible, pointing towards supermarkets who had been fuelling demand by driving down the price which had put significant pressure on suppliers.

It’s news that has the wine lovers in the UK particularly worried ahead of summer.  The recession saw so many people swap over to the less expensive prosecco that in 2013, prosecco actually outsold champagne for the first time ever and Britain became the number one market.

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Paul Bourke of Australian wine suppliers Wine Selectors says they’ve also seen significant growth in the popularity of prosecco.

“Over the last few years demand has definitely increased, particularly because it’s such a food wine,” he says.

"Because of the low alcohol content, you can have it lunch or even before lunch for a special breakfast or brunch, and people like that."

"We're also seeing people becoming more educated about it and learning about these new varieties which is great because you need newer varieties - you can't just have chardonnay all the time!," he says.

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Since 2009, the Italian white sparkling wine has to have been made in the Conegliano-Valdobbiadene area of North-west Italy to use the name Prosecco, but the Independent reports that since the 2000s the grapes have been grown as far afield as South America.

Luckily, it looks like Australians can rest easy.

Bourke reassures us that prosecco will remain in plentiful supply for us, thanks to the growing number of winemakers producing the sparkling down under.

"Brown Brothers and Tempus Two are some examples of wine companies with Italian or Spanish heritage producing this emerging variety here in Australia," he says.

"So we won't be short of the sparkling here, that's for sure."

I'll raise a glass to that.

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Do you drink prosecco? Are you concerned about the shortage?