Champagne Vinegar Market to Reach $31 Mn, Globally, by 2031 at 3.8% CAGR: Allied Market Research

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Sep 06, 2022, 19:30 ET

Surge in the number of hotels and an increase in the number of tourist activities across the emerging economies drives the growth of the global champagne vinegar market.

PORTLAND, Ore., Sept. 6, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Champagne Vinegar Market by Type (Organic, Conventional), by Application (Household, Commercial), by Distribution Channel (Offline, Online), by Champagne Type (Pinot Meunier, Pinot Noir, Pinot Gris, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global champagne vinegar industry was estimated at $21.4 million in 2021, and is set to reach $31 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Drivers, restraints, and opportunities

Surge in the number of hotels and an increase in the number of tourist activities across the emerging economies drives the growth of the global champagne vinegar market. Increasing demand for a healthy diet among consumers boosts global market trends. Moreover, immense demand for natural and organic products is projected to create new growth opportunities for the industry across the globe. In addition, a prominent rise in the launching of new and customized products has generated new avenues of expansion for the global market globally. However, the easy availability of substitute products such as white wine vinegar at reasonable costs can impede the growth of the market.

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Covid-19 scenario:

The COVID-19 pandemic negatively impacted the growth of the global champagne vinegar market due to the closure of foodservice establishments during the COVID-19 pandemic.
Reduction in demand for champagne vinegar in the commercial sector due to the lockdown imposed during the COVID-19 pandemic severely impacted the global market surge.

The conventional segment to dominate the global market in terms of revenue in 2031

Based on the type, the conventional segment contributed to the highest market share in 2021, accounting for more than four-fifths of the global champagne vinegar market share. In addition, the conventional segment is predicted to contribute majorly toward an overall market share in 2031, contributing more than four-fifths of the global market share. The growth of this segment over the forecast period is owing to the adoption of traditionally grown grapes and their increased penetration as a raw material in the preparation of champagne vinegar. However, the organic segment is also likely to register the highest CAGR of nearly 6.0 % during the forecast timeline. The growth of the organic segment over the forecast period can be attributed to rising health awareness among consumers along with knowledge about the negative impacts of chemical-based food products on the health and environment.

The commercial segment to hold the major market share from 2022 to 2031

On basis of the application, the commercial segment contributed to the highest market share in 2021, accounting for more than four-fifths of the global champagne vinegar market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The segmental growth over the forecast timeline can be attributed to the massive demand for champagne vinegar in hotels and restaurants in preparing various kinds of dishes and salads. However, the household segment is anticipated to record the highest CAGR of 4.4% during the forecast period. The growth of the segment over the forecast timeline can be credited to the rising penetration of social media and involvement of people in cooking as a hobby. Furthermore, the escalating awareness regarding the new dishes, champagne vinegar, and applications of champagne vinegar and other types of vinegar in various dishes will propel the growth of this segment in the years ahead.

The offline segment to dominate the global market by 2031

In terms of the distribution channel, the offline segment contributed to the highest market share in 2021, accounting for more than four-fifths of the global champagne vinegar market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The expansion of this segment over the forecast timeline can be due to the enhanced penetration of these offline channels across the globe serves as a popular and easy medium for buying and selling champagne vinegar. Furthermore, the easy access to these offline stores and conveniences to the customers has boosted the growth of this segment. However, the online segment is set to record the fastest CAGR of 4.9% from 2022 to 2031. The growth of this segment can be credited to easy accessibility and heavy discounts & offers provided by online platforms resulting in their acceptance. Apart from this, online tools serve as a popular medium for the purchase of champagne vinegar. In addition, presently, online shopping has become a macro trend due to the high internet penetration rate across the globe, especially in developing countries.

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Europe to retain global market domination over 2022-2031

By Region, Europe contributed notably toward an overall market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly half of the global champagne vinegar market share in 2021. The region is projected to dominate the global market even in 2031. The growth of the market in the region over the forecast timespan can be credited to the presence of several top champagne manufacturers in the region ensuring the sufficient availability of raw materials for producing champagne vinegar in Europe. However, the Asia-Pacific region is anticipated to record the fastest CAGR of 4.5% from 2022 to 2031. The growth of the regional market over the forecast period can be attributed to the rising penetration of various fast food and quick service restaurants along with the rising number of hotels and resorts in the Asia-Pacific region. The report also analyzes other segments including LAMEA and North America.

Major market players

Antichi Colli Srl
Bellindora Vinegar
Charbonneaux Brabant
Cibaria International
Classic Wines Vinegar
Evoolution
Fiore Artisan Olive Oil and Vinegar
Fleischmann's Vinegar
Hillstone Olive Oil
Kimberley Wine Vinegars
O Olive Oil and Vinegar
Olive Oil and Beyond
Sparrow Lane
Stonewall Kitchen
Wellspent Market

The report analyzes these key players in the global champagne vinegar market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

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