The global champagne market size was worth around USD 6.0 Billion in 2021 and is predicted to grow to around USD 8.2 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2022 and 2030.
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➤ Boosting the market’s development by increasing the sale of alcohol online
The expansion of online alcohol sales, particularly champagne, is accelerating. On-demand delivery applications such as Drizly are the primary factors driving this global champagne market. In order to satisfy the expanding consumer market, numerous prominent e-commerce merchants have recently entered the sector. An increasing number of Champagne manufacturers have established direct-to-consumer portals in order to increase their online sales in response to the Covid-19 outbreak.
➤ The substantial expense of champagne serves as a significant impediment.
During the forecast period, the market’s development is significantly impeded by the exorbitant price of champagne. Champagne is a representation of luxury and prosperity. It is frequently priced at twice the rate of other effervescent wines, such as cava or prosecco. A bottle of respectable grade can be priced between $50 and $300, and vintages often fetch thousands of dollars. Consequently, they serve as a significant impediment to market expansion.
➤ An appealing opportunity is presented by the increasing demand from emergent markets.
Champagne is already receiving recognition as a substantial market opportunity in emerging markets. In emerging markets, it is anticipated that the demand for minute doses on special occasions and the increasing acceptability of alcohol consumption will drive growth. The increasing acceptance of alcohol on non-religious grounds is inextricably linked with a culture that is driven by peer approbation and an increased nightlife.
➤ The market expansion is challenged by the progressive transition of consumers to alternative alcoholic beverages.
The manufacturers of alcoholic beverages have been compelled to introduce audacious and innovative new varieties of their products as a result of global factors such as increasing modernization and rising alcohol consumption. Liquors, spirits, beers, and other intoxicating beverages are experiencing a consistent change in consumer preference as a result of their affordability. Consequently, it is anticipated that this will pose a significant obstacle to the market’s expansion during the forecast period.
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The Global Champagne Market is segmented based on product, application and region
Global Champagne Market: Product Segment Analysis
● Prestige Cuvee
● Blanc De Noirs
● Blanc De Blancs
● Rose Champagne
● Others
Global Champagne Market: Application Segment Analysis
● Pinot Noir
● Pinot Meunier
● Chardonnay
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The global Champagne market profiles key players such as:
● Champagne GH Martel & Co
● LANSON-BCC
● Moet Hennessy USA Inc
● Taittinger
● Vranken – Pommery Monopole
● Pernod Ricard
● Louis Roederer
● Veuve Clicquot
● Pommery
● Piper-Heidsieck
● Andre Champagne Cellars
● Alumiceal
● Centre Vinicole – Champagne Nicolas Feuillatte
● G.H. Mumm et Cie
● Bollinger
● Artwinery
???? Recent Developments:
• The Coravin SparklingTM System, which was eagerly anticipated, was released in October 2021. Mot Hennessy, the world’s foremost producer of luxury wine and spirits, has announced a strategic alliance with them as the “Official Preservation Partner of Mot Hennessy Champagnes.” This partnership will revolutionize the consumption of Champagne and sparkling wines by the glass. The two partners will collaborate to ensure the global distribution of the product, with a focus on restaurants, wine bars, and other establishments that serve exquisite beverages on-premise.
• Ruinart Champagne introduced new eco-friendly Second Skin packaging for champagne in April 2021. The new 100% paper case is recyclable and can withstand the cold of an ice pail for several hours before degrading. The wine’s quality is safeguarded by the innovative design, which remains environmentally conscious and obstructs incoming light.
➤ The market is anticipated to be dominated by Europe during the forecast period.
In 2021, Europe held the largest revenue share of over 60% and is anticipated to maintain its dominance in the global champagne market throughout the forecast period. The product’s high level of consumer acceptance in Germany, Belgium, France, and the UK is the primary reason for the region’s growth. Furthermore, the commodity’s accessibility and convenience have been enhanced by the legalization of online alcohol delivery in numerous countries, including the United Kingdom and Germany.
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