NEW
YORK, July 22, 2024 /PRNewswire/ -- The
global champagne market size is estimated to grow by
USD 2.51 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 6% during the forecast period. Growing demand for
champagne from millennials is driving market growth, with
a trend towards expansion of the e-commerce sector.
However, rising competition from other alcoholic beverages
poses a challenge. Key market players include Champagne GH
Martel, Champagne Laurent Perrier, Champagne Louis Roederer,
Champagne Nicolas Feuillatte, Champagne Piper Heidsieck, Champagne
Taittinger CCVC, Champagne Veuve A.Devaux, Constellation Brands
Inc., De Castellane, E. And J. Gallo Winery, F. Korbel and
Bros, Joseph Perrier, Krug Champagne, LANSON BCC, LVMH Moet Hennessy
Louis Vuitton SE, Veuve Clicquot Ponsardin, Pernod Ricard SA, Remy
Cointreau SA, THIENOT SAS Co., and VRANKEN POMMERY MONOPOLE.
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Champagne Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6%
|
Market growth
2024-2028
|
USD 2.51
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.52
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
Europe at
35%
|
Key
countries
|
US, China, Germany,
Italy, and France
|
Key companies
profiled
|
Champagne GH Martel,
Champagne Laurent Perrier, Champagne Louis Roederer, Champagne
Nicolas Feuillatte, Champagne Piper Heidsieck, Champagne Taittinger
CCVC, Champagne Veuve A.Devaux, Constellation Brands Inc., De
Castellane, E. And J. Gallo Winery, F. Korbel and Bros, Joseph
Perrier, Krug Champagne, LANSON BCC, LVMH Moet Hennessy Louis
Vuitton SE, Veuve Clicquot Ponsardin, Pernod Ricard SA, Remy
Cointreau SA, THIENOT SAS Co., and VRANKEN POMMERY
MONOPOLE
|
Market Driver
The global champagne market experiences growth due to the
expanding availability of online stores and specialty retailers.
Consumers appreciate the convenience of online shopping, allowing
them to compare prices and make informed decisions on champagne
purchases. Vendors benefit from this trend by selling directly to
consumers through online platforms, eliminating intermediaries and
offering competitive pricing. Online sales channels enable vendors
to target customers globally, improve operational efficiencies, and
provide detailed product information. By presenting their products
attractively online and offering customized offerings, vendors can
increase profit margins and attract new customers, ultimately
driving market growth.
The Champagne market is thriving with trends such as "Ice bucket
chill" and "Light blocking" bottles making a splash. Online
retailing through e-commerce platforms and DTC channels are on the
rise, allowing consumers easy access to their favorite Champagne
brands. Airports are expanding their offerings, making it
convenient for travelers to purchase Champagne before departing.
Champagne houses and manufacturers are focusing on health-friendly
beverages, offering gluten-free, low carb, vegan-friendly, and
organic options. Mixologists and bartenders are experimenting with
Champagne cocktails, adding flavors from grape varieties like Pinot
Noir, Pinot Meunier, Chardonnay, and Pinot Blanc. The global
Champagne market is booming, with celebrations, sporting events,
anniversaries, weddings, and corporate gatherings driving demand.
Import-export potential is high, making it an attractive business
opportunity for Champagne producers. No taste additives ensure the
authenticity of Champagne, maintaining its alcoholic beverage
status as a premium and joyous occasion drink.
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Market Challenges
- The champagne market faces increasing competition from other
sparkling wines, particularly prosecco, due to their more
affordable prices. Champagne's high cost, influenced by inflation
and supply shortages, has led consumers to explore alternatives
such as tequila, liqueur, schnapps, and ready-to-drink cocktails.
These beverages cater to various consumer preferences, including
non-alcoholic options. The growing popularity of these alternatives
may negatively impact the champagne market's growth during the
forecast period.
- The global champagne market is a thriving sector of the
alcoholic beverage industry, with Champagne being the most famous
sparkling wine. This luxury alcoholic beverage is primarily made
from three grape varieties: Pinot Noir, Pinot Meunier, and
Chardonnay. The flavors of champagne can vary, with notes of
citrus, apple, almond, and sometimes rosé. Champagne is often
associated with joyous occasions such as sporting events,
anniversaries, weddings, and corporate gatherings. However, the
champagne market faces challenges. Consumers prefer authentic
tastes and vintage wines, making it crucial for champagne producers
to maintain high-quality standards. Alcohol usage regulations and
peer ties to specific brands also impact sales. Supermarkets and
specialty stores are significant sales channels, but pubs,
restaurants, bars, and food service restaurants are also key
players. The market is competitive, with spirits and wine also
vying for consumers' attention. Luxury champagnes, like Ruinart,
differentiate themselves through organic/natural ingredients, vegan
ingredients, and eco-friendly packaging. The alcoholic beverage
market continues to evolve, requiring champagne producers to adapt
and innovate to meet changing consumer preferences.
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Segment Overview
This champagne market report extensively covers market
segmentation by
- Distribution Channel
- Price Range
- 2.1 Economy
- 2.2 Mid-range
- 2.3 Luxury
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- Champagne is primarily distributed
offline through individual retailers, supermarkets, hypermarkets,
and beverage stores. Supermarkets and hypermarkets are the leading
distribution channels due to their large shelf spaces and diverse
selection of champagne brands. Major retailers like Tesco Plc
(Tesco), Carrefour SA (Carrefour), and Target Brands (Target)
dominate this segment. Consumers prefer these channels for their
convenience and the ability to find a wide range of champagne
products under one roof. The organized retail industry's growth
contributes to the expansion of champagne sales through these
channels. Rising disposable incomes and urbanization further boost
demand, benefiting local champagne manufacturers and driving the
global champagne market growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Cold Chain Logistics Market is witnessing significant
growth due to rising demand for temperature-sensitive products. Key
players are investing in advanced technologies to enhance
efficiency. Meanwhile, the global Sparkling Wine Market is
expanding, driven by increasing consumer preference for premium
beverages. Leading producers are focusing on innovative flavors and
sustainable practices. In parallel, the global Online On-demand
Laundry Service Market is booming as convenience and time-saving
services become more popular. Major companies are integrating
eco-friendly solutions and user-friendly apps to attract a broader
customer base.
Research Analysis
The Champagne market is a thriving industry centered around the
production and distribution of this iconic alcoholic beverage.
Known for its fine bubbles and elegant taste, Champagne is made
primarily from three grape varieties: Pinot Noir, Pinot Meunier,
and Chardonnay. These grapes are harvested from vineyards in the
Champagne region of France and
transformed into a delicious, celebratory drink. Champagne is
synonymous with joyous occasions, from sporting events and
anniversaries to weddings and corporate gatherings. The drink's
crisp, refreshing flavor pairs perfectly with a variety of foods,
including citrus, apple, and almond. Food service restaurants,
bars, and mixologists frequently feature Champagne on their menus
for special occasions and office parties, as well as for everyday
dinners. Vintage Champagnes, such as those produced by Ruinart, are
highly sought after for their complex flavors and aging potential.
Whether enjoyed on its own or mixed into a cocktail, Champagne
continues to be a popular choice for those looking to add a touch
of elegance and sophistication to their celebrations.
Market Research Overview
Champagne is a renowned alcoholic beverage known for its
luxurious and celebratory image. Produced primarily in the
Champagne region of France, it is
made from three grape varieties: Pinot Noir, Pinot Meunier, and
Chardonnay, with Pinot Noir being the most commonly used. The
flavors of Champagne can vary from citrus and apple to more complex
notes of almond and brioche. This bubbly beverage is often
associated with joyous occasions such as sporting events,
anniversaries, weddings, corporate gatherings, and birthdays. It is
also popular in food service restaurants, bars, and pubs. Rosé
Champagne adds a pink hue to the celebration, while vintage wines
offer authentic flavors and tastes. The global champagne market
continues to grow, with an increasing demand for luxury,
organic/natural ingredients, vegan ingredients, and eco-friendly
packaging. Supermarkets, specialty stores, online retailers, and
direct-to-consumer (DTC) channels are key players in the champagne
market. Mixologists and bartenders often incorporate Champagne into
their cocktails, adding to its versatility and popularity. The
champagne market is not just limited to Champagne houses and
producers but also includes spirits, wine, and other alcoholic
beverages. With the rise of health-friendly beverages, there is an
increasing demand for gluten-free, low carb, and vegan-friendly
options. The import-export potential of Champagne is significant,
with many countries recognizing its prestige and desirability.
Champagne is a symbol of luxury and celebration, making it a
popular choice for various occasions. Whether it's enjoyed in an
ice bucket with friends or mixed into a cocktail by a skilled
mixologist, Champagne adds a touch of elegance and joy to any
gathering.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Price Range
-
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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