According to the latest report by IMARC Group, titled "Champagne Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global champagne market is expected to grow at a CAGR of 3.2% during 2022-2027. Champagne is an alcoholic beverage that is produced from a specific variety of grapes harvested in the Champagne region of France. These grapes are fermented and aged for several years to produce wine with an alcohol content of about 9% by volume. It comprises low amounts of calories and varying levels of sugar with high levels of resveratrol. Its moderate consumption is widely associated with regulating cholesterol levels, improving heart health, reducing damage to blood vessels, lowering the risks of developing diabetes, and preventing blood clots. It is commonly consumed as a celebratory drink at anniversaries, celebrations, weddings, sporting events, and corporate gatherings.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Champagne Market Trends:
The global market is majorly driven by the rising trend of socialization among the masses. This is supported by rapid urbanization, inflating disposable income levels of individuals and their shifting lifestyle preferences. Moreover, the growing trend of weekend parties and gatherings across the corporate sector is also providing a boost to the demand for premium alcoholic beverages, including champagne. Furthermore, significant growth in the hospitality sector is also creating a positive outlook for the market. Also, since champagne is widely utilized in the preparation of gourmet food preparations across luxury hotels, the rising popularity of food tourism is facilitating its uptake on the global level. Apart from this, multiple key players are increasingly participating in the production of champagne by combining advanced technologies and traditional hybridization techniques to gain a competitive edge in the market. Some of the other factors contributing to the market growth include the advent of canned champagne and the growing preference for purchasing unique and exotic flavored champagne through online retail channels.
- On the basis of the product, the market has been divided into prestige cuvée, blanc de noirs, blanc de blancs, rosé champagne, and others.
- Based on the price, the market has been classified into economy, mid-range, and luxury.
- On the basis of the distribution channel, the market has been categorized into supermarket and hypermarket, specialty stores, and online stores.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Arvitis, Centre Vinicole – Champagne Nicolas Feuillatte, Champagne Piper-Heidsieck, Diageo, LANSON-BCC, Laurent-Perrier, LVMH Moët Hennessy Louis Vuitton, Pernod Ricard, Taittinger and Vranken - Pommery Monopole SA.
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