USD 6.78 billion
Report ID: SQMIG30F2015 | Region: Global | Published Date: October, 2022 | Pages: 212 | Tables: 92 | Figures: 76
Global Champagne Market size was valued at USD 6.78 billion in 2021 and is poised to grow from USD 7.2 billion in 2022 to USD 12.37 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
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 others, as well as specialized agricultural methods.
Champagne has been served at sporting events, anniversaries, celebrations, weddings, joyous occasions, and corporate gatherings for decades. The growing economic growth of developing countries could pose a considerable factor that is driving the growth of the global champagne market in other regions during the forecast period. To meet rising consumer demand for champagne, manufacturers have developed a variety of flavours to appeal to a wide range of palates.
There is no single wine category that has been more severely impacted by the COVID-19 pandemic than Champagne. Between April and August 2020, the industry's turnover fell by one-third, equating to approximately $2 billion in revenue. Approximately 100 million bottles of Champagne went unsold. Premium brands took a particularly hard hit. Champagne sales, on the other hand, are now on the rise.
The decline was unsurprising. Champagne is closely associated with happy occasions. There was little to celebrate amid a global pandemic. Even if there were, the worldwide lockdowns made it nearly impossible for large groups of people to congregate.
US Champagne Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.78 billion
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The Global Champagne Market is segmented based on Price point, Distribution channel, Product Outlook, and Region. Based on Price point Champagne Market is categorized into: Economy, Mid-Range, Luxury. Based on Distribution channel Champagne Market is categorized into: Supermarket, Specialty Stores. Based on Product Outlook Champagne Market is categorized into: Prestige Cuvée, Blanc De Noirs, Blanc De Blancs, Rosé Champagne. Based on Region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Champagne Market Analysis by Distribution Channel
In 2021, the supermarket/hypermarket category held a considerable part of the worldwide market, depending on distribution channel. However, the need for on-trade distribution channels is increasing due to changes in consumer preferences brought about by an increase in disposable income. Furthermore, the increase in the number of younger people and a shift in consumer preferences (to attend pubs and restaurants) pave the way for the rise of the on-trade distribution channel sector.
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The Champagne market has been dominated by Europe, particularly France and Italy. The region is dominating the market because the majority of the champagne is consumed and produced in this region. Furthermore, online delivery of alcohol has been legalized in various countries, including the U.K. and Germany, making the product more accessible and convenient to shop. The Asia Pacific is expected to be the fastest-growing market.
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Champagne Market Driver
Champagne Market Restraint
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The market is characterized by the presence of a few well-established players. New product launches, partnerships and investing in research & development have been a key business strategy. To raise their market share, enhance profitability, and remain competitive, participants in the champagne industry have embraced product introduction and company expansion as major development tactics.
Champagne Market Top Players Company Profiles
Champagne Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Asia Pacific is predicted to emerge as a potential champagne market due to increased consumer buying capacity. The societal acceptance of alcohol consumption influences a country's drinking culture. Demand for champagnes is likely to climb as young people in countries such as India and China become more receptive to tasting new cuisines and drinks.
|Market size value in 2021||USD 6.78 billion|
|Market size value in 2030||USD 7.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Champagne Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Champagne Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Champagne Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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