Global Champagne Market Demand, Size & Share to Surpass USD 8.2 Billion by 2030, Exhibit a CAGR of 3.5% | Champagne Industry Trends, Growth, Value, Segment Analysis & Forecast Report by Zion Market Research
NEW YORK, Jan. 19, 2023 /PRNewswire/ -- As per Zion Market Research study, 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.
Champagne Market: Overview
An alcoholic beverage known as champagne is made from a variety of grapes and flavors like citrus, almond, and apple to improve the overall flavor. It comes in different levels of sweetness and is aged for several years to provide texture and depth. In contrast to wine, it has higher levels of resveratrol and fewer calories and sugar. Its low to moderate use has several health advantages, including elevating mood, lowering bad cholesterol, reducing the risk of diabetes, enhancing heart health, limiting blood vessel damage, preventing dementia, and preventing blood clots. Currently, champagne is frequently drunk as a celebratory beverage at parties, weddings, sporting events, and business gatherings all around the world.
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Key Industry Insights & Findings of the Champagne Market Reports:
- As per the analysis shared by our research analyst, the global champagne market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2022-2030).
- In terms of revenue, the global champagne market size was valued at around USD 6.0 billion in 2021 and is projected to reach USD 8.2 billion, by 2030.
- One of the primary factors supporting the market's expansion is the rising socializing tendency, particularly among young people and the growing influence of cocktail culture. Moreover, there has been a noticeable movement in consumer tastes toward expensive champagne as a result of increased urbanization and rising incomes.
- Based on the product, the blanc de blancs segment held the largest revenue share in 2021.
- Based on the distribution channel, the off-trade segment accounted for the largest market share in 2021 and is expected to continue this pattern during the forecast period.
- Based on region, Europe is expected to dominate the market during the forecast period.
Zion Market Research published the latest report titled "Champagne Market By Raw Material (Pinot Noir, Pinot Meunier and Chardonnay), By Product (Prestige Cuvee, Blanc De Noirs, Blanc De Blancs, Rose Champagne, and Others), By Distribution Channel (Off-trade and On-trade) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030." into their research database.
Industry Dynamics:
Champagne Market: Growth Drivers
- Increasing online sales of alcohol to drive the market growth.
Online sales of alcohol, especially champagne, are expanding more quickly. The main drivers in this global champagne market are on-demand delivery apps like Drizly. Popular e-commerce merchants have also recently entered the sector to meet growing consumer demand. In response to the Covid-19 outbreak, an increasing number of Champagne manufacturers have started direct-to-consumer portals to boost their online sales.
Champagne producers have typically sold their wines virtually exclusively through wholesalers and retailers. However, as the hospitality industry continues to face difficulties, direct-to-consumer (DTC) channels have emerged as a desirable means for producers to make up for lost sales. For instance, Champagne Palmer opened its direct-to-consumer (DTC) online store in April 2020. In addition, Uber Eats added alcohol delivery to its list of services. In consequence, it is projected that this component will support overall champagne sales through online retailing.
Champagne Market: Restraints
- High cost of champagne act as a major restraints.
The high cost of champagne act as a major restraining factor for the growth of the market during the forecast period. Champagne is a symbol of wealth and luxury. It frequently costs twice as much as other sparkling wines like prosecco or cava. It can range in price from $50 to $300 for a bottle of respectable quality, and vintages frequently sell for thousands of dollars. Thus, act as a major restraint for market growth.
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Champagne Market: Opportunities
- Growing demand from emerging markets provides an attractive opportunity
Emerging markets are already being recognized as a significant market opportunity for champagne. Growth in emerging markets is anticipated to be driven by rising acceptance of alcohol drinking and rising demand for minute doses on special occasions. Increased nightlife and a peer-approval-driven culture go hand in hand with a growing acceptance of alcohol on non-religious grounds.
Additionally, the increased use of social media is spreading a way of life to even younger children and creating peer connections and information sharing among young people who have not had significant exposure to alcoholic beverages. Thus, this is expected to provide a lucrative opportunity for global champagne market expansion during the forecast period.
Champagne Market: Challenges
- Consumers' gradual move to alternative alcoholic beverages poses a challenge to the market expansion.
Global factors like increased modernization and rising alcohol consumption have prodded the makers of alcoholic beverages to introduce bold and innovative new varieties of their products. There is a steady shift in customer choice toward other alcoholic beverages due to their affordability, including liqueurs, spirits, beers, and others. Thus, this is expected to be a major challenge for the market expansion over the forecast period.
Global Champagne Market: Segmentation
- The global champagne market is segmented based on the raw material, product, distribution channel, and region
Based on the product, the global market is bifurcated into prestige cuvee, blanc de noirs, blanc de blancs, rose champagne, and others. The blanc de blancs segment held the largest revenue share in 2021 and is expected to continue the same pattern during the forecast period. This product kind, which is made entirely of chardonnay, is referred to as the "soul of champagne." Due to its excellent natural acidity and distinctive minerality, it has a considerable measure of customer popularity. It has a chance to mature well owing to this fusion.
Additionally, a wide variety of meals, including shellfish, turbot, sea bass, and even old cheese with strong flavors, can be matched with it. The most well-known variations include Chartogne-Taillet Heurtebises, Palmer & Co. Blanc de Blancs, Taittinger Comtes de Champagne Blanc de Blancs, Pol Roger Blanc de Blancs, and Krug Clos du Mesnil. Thus, driving the segmental growth over the forecast period.
Based on the distribution channel, global champagne is categorized into off-trade and on-trade. The off-trade segment accounted for the largest market share in 2021 and is expected to continue this pattern during the forecast period. The growth in the segment is attributable to significant consumer awareness of liquor stores as a primary source of purchases.
Online sales of alcohol, especially champagne, are expanding more quickly. The driving forces in this market are the on-demand delivery apps like Drizly. Popular e-commerce merchants have also recently entered the sector to meet growing consumer demand. In response to the Covid-19 outbreak, an increasing number of Champagne manufacturers have started direct-to-consumer portals to boost their internet sales. Thus, off-trade is expected to hold a significant market share during the forecast period.
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List of Key Players in Champagne Market:
- 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
Key questions answered in this report:
- What are the growth rate forecast and market size for Champagne Market?
- What are the key driving factors propelling the Champagne Market forward?
- What are the most important companies in the Champagne Market Industry?
- What segments does the Champagne Market cover?
- How can I receive a free copy of the Champagne Market sample report and company profiles?
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Recent Developments
- In October 2021, the much-anticipated Coravin SparklingTM System has been released, and the world's leading producer of luxury wine and spirits, Mot Hennessy, has announced a strategic alliance with them as the "Official Preservation Partner of Mot Hennessy Champagnes," which will transform the way Champagne and sparkling wines are consumed by the glass. With a concentration on restaurants, wine bars, and other locations with on-premise fine drink consumption, the two partners will work to secure its global distribution. The Coravin SparklingTM System is the first all-purpose method for keeping sparkling wine's tastes and fizz after a single-glass serving. After the wine is served, the Sparkling Charger injects carbon dioxide into the bottle to keep the bubbles from evaporating. Its Sparkling Stopper locks securely on any half-bottle, 750ml bottle, or Magnum.
- In April 2021, new eco-friendly Second Skin packaging for champagne was introduced by Ruinart Champagne. The new 100% paper case can resist the cold of an ice bucket for several hours before degrading and is recyclable. By obstructing incoming light and remaining environmentally mindful, the creative design protects the wine's quality.
Regional Dominance:
- Europe is expected to dominate the market during the forecast period.
Europe accounted for the largest revenue share of more than 60% in 2021 and is expected to remain dominant in the global champagne market over the forecast period. The growth in the region is attributed to the high customer acceptance of the product in Germany, Belgium, France, and the UK. Additionally, the legalization of online alcohol delivery in several nations, notably the UK and Germany, has increased the availability and convenience of the commodity. For instance, according to the OECD 2021 report, sales of alcoholic beverages rose in the U.K. and Germany in 2020 compared to 2019 by 3% to 5%. Trade organizations, like the Comité Champagne, have been working to advance the goals of winegrowers, businesses that buy and sell wine, and economic development. The Comité also established Champagne Campus, a website, and an app for iOS and Android users as part of their efforts. The organization also works to increase consumer awareness of its brand.
Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This growth rate is ascribed to expanding product consumption in nations like Australia, Japan, China, Hong Kong, and Taiwan, which is stimulated by lifestyle changes, an increase in disposable income, the influence of pop culture, and the expansion of global brand availability. For instance, according to the secondary analysis, champagne exports to China reached a record high of USD 72.2 million in 2021, a staggering 69.9% increase over the previous year, while the number of bottles exported increased by 14.8% to 2.1 million bottles from pre-pandemic 2019 values. Furthermore, the popularity of large-scale social and business events has also increased the growth of the market over the forecast period.
Global Champagne Market is segmented as follows:
Champagne Market: By Raw Material Outlook (2022-2030)
- Pinot Noir
- Pinot Meunier
- Chardonnay
Champagne Market: By Product Outlook (2022-2030)
- Prestige Cuvee
- Blanc De Noirs
- Blanc De Blancs
- Rose Champagne
- Others
Champagne Market: By Distribution Channel Outlook (2022-2030)
- Off-trade
- On-trade
Champagne Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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