Global Champagne Market is Segmented By Product(Prestige Cuvee, Blanc De Noirs, Rose Champagne, Others), By Distribution Channel(Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others), By Price Point(Economy, Mid-Range, Luxury), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Champagne Market Overview:
The global champagne market is growing at a high CAGR during the forecast period (2024-2031).
Champagne is a sparkling wine produced in France's Champagne region. This alcoholic beverage is made with specific grape varieties such as Pinot Noir, Pinot Meunier, Chardonnay, Pinot Blanc, and specialized agricultural methods. For decades, champagne is being served at sporting events, anniversaries, celebrations, weddings, joyous occasions, and corporate gatherings. The increase in demand for high-end alcoholic beverages propels the global champagne market forward. The top 10% of the earning population accounts for most of the market's customers. As a result, people are more likely to value exquisite quality and exclusivity in items and are willing to pay a higher price, driving the champagne market's growth.
Champagne Market Scope and Summary
Metrics |
Details |
Market CAGR |
9.9% |
Segments Covered |
By Material, By Filter Module, By Application, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Champagne Market Dynamics:
Champagne demand is predicted to rise due to a growing nightlife culture
The rising socialization trend, especially among the young population, coupled with the increasing influence of cocktail culture, represents one of the key factors strengthening the growth of the market. Moreover, due to rapid urbanization and inflating income levels, there is a significant shift in consumer preferences towards premium champagne. In addition to this, the expanding food tourism and culinary services are positively influencing the adoption of champagne in luxury hotels for gourmet cooking across the globe. Increasing brand awareness, improving economic conditions, innovative branding, growth in the premium wine market, and increasing consumption in emerging economies are factors supporting the market growth of the Champagne. According to Comite Champagne (trade association of Champagne manufacturers), the global Champagne market was valued at US$ 5.6 billion in the year 2018, up by 0.3% from 2017.
Champagne Market Segmentation Analysis
Economy segment accounted for the highest share in global champagne market.
In 2021, the economy category led the global market, accounting for more than half of all sales, and this dominance is likely to continue throughout the champagne market prediction period. Increased consumption of reasonably priced champagne on special occasions for festivities has boosted market growth in developing countries as the middle and upper middle classes' incomes have risen.
In 2021, the supermarket/hypermarket segment held a significant share of the global market, depending on distribution channel. However, as customer preferences change as a result of increased disposable income, demand for on-trade distribution channels is increasing. Furthermore, the rise of the on-trade distribution channel sector is aided by an increase in the number of younger people and a shift in consumer preferences. Online sales of alcoholic beverages, particularly champagne, are increasing at a quicker rate. The driving drivers of this market are on-demand delivery apps like Drizly. To meet the growing demand from consumers, major e-commerce shops have recently joined the sector.
Champagne Market Geographical Penetration:
Europe is the dominating region during the forecast period
Champagne, native to the region, has a large market share among other alcoholic beverages. As a result, the European region accounts for a considerable portion of global champagne consumption, with most champagne made in nations such as France, the United Kingdom, and Germany being exported to more than 150 countries worldwide. Furthermore, the increasing frequency of premiumization increases the product's value sales. Due to the increased focus on health-friendly beverages, champagne variants that use descriptors like no taste additives, gluten-free, low carb, vegan-friendly, sulfite-free, low calorie, sugar-free, low alcohol, light, lighter, organic, paleo-friendly, and so on have been gaining popularity among European consumers.
Due to significant demand from markets such as Japan, Australia, and China, Asia Pacific is the fastest-growing region in the Champagne industry. Japan was the third-largest export market for Champagne producers in 2020, according to Comite Champagne. Increasing income and a higher standard of living are driving growth in this region.
Champagne Market Companies and Competitive Landscape:
The champagne market is highly fragmented, with many regional players. To grow their market share, boost profitability, and stay competitive, participants in the champagne market used product launch and market expansion as essential developmental methods. The key players in the market include Laurent Perrier, Louis Vuitton SE, Taittinger, Pernod Ricard, LANSON-BCC, Thiénot Bordeaux-Champagnes, Piper-Heidsieck, Pommery, and Veuve Clicquot Ponsardin among others. Luxury wine and spirits leader Mot Hennessy established a strategic relationship with global wine technology innovator 'Coravin SparklingTM System' in October 2021, intending to revolutionize Champagne. The Coravin Sparkling System, as part of this cooperation, would be able to preserve the flavors and mouthfeel of the former's Champagne for up to two weeks, saving restaurants and bars money by essentially eliminating the danger of waste and making prestige Champagne more accessible to consumers.
COVID-19 Impact on Champagne Market
Negative impact on the global champagne market
The demand for alcoholic beverages has declined marginally during the COVID-19 pandemic. The global shutdown hampered the distribution of alcoholic beverages. Due to the lockdown, bars, restaurants, pubs, and breweries were forced to close, and client visits were severely restricted. The COVID-19 pandemic harmed the market examined due to multiple store closures, economic volatility, and rising unemployment rates worldwide, resulting in a drop in consumer spending power and a shift in consumer preferences away from alcoholic beverages like champagne.
