Champagne Market size is set to grow by USD 2.51 billion from 2024-2028, Growing demand for champagne from millennials boost the market, Technavio

NEW YORK, July 22, 2024 /PRNewswire/ -- The global champagne market size is estimated to grow by USD 2.51 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6%  during the forecast period. Growing demand for champagne from millennials is driving market growth, with a trend towards expansion of the e-commerce sector. However, rising competition from other alcoholic beverages  poses a challenge. Key market players include Champagne GH Martel, Champagne Laurent Perrier, Champagne Louis Roederer, Champagne Nicolas Feuillatte, Champagne Piper Heidsieck, Champagne Taittinger CCVC, Champagne Veuve A.Devaux, Constellation Brands Inc., De Castellane, E. And J. Gallo Winery, F. Korbel and Bros, Joseph Perrier, Krug Champagne, LANSON BCC, LVMH Moet Hennessy Louis Vuitton SE, Veuve Clicquot Ponsardin, Pernod Ricard SA, Remy Cointreau SA, THIENOT SAS Co., and VRANKEN POMMERY MONOPOLE.

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Market Driver

The global champagne market experiences growth due to the expanding availability of online stores and specialty retailers. Consumers appreciate the convenience of online shopping, allowing them to compare prices and make informed decisions on champagne purchases. Vendors benefit from this trend by selling directly to consumers through online platforms, eliminating intermediaries and offering competitive pricing. Online sales channels enable vendors to target customers globally, improve operational efficiencies, and provide detailed product information. By presenting their products attractively online and offering customized offerings, vendors can increase profit margins and attract new customers, ultimately driving market growth. 

The Champagne market is thriving with trends such as "Ice bucket chill" and "Light blocking" bottles making a splash. Online retailing through e-commerce platforms and DTC channels are on the rise, allowing consumers easy access to their favorite Champagne brands. Airports are expanding their offerings, making it convenient for travelers to purchase Champagne before departing. Champagne houses and manufacturers are focusing on health-friendly beverages, offering gluten-free, low carb, vegan-friendly, and organic options. Mixologists and bartenders are experimenting with Champagne cocktails, adding flavors from grape varieties like Pinot Noir, Pinot Meunier, Chardonnay, and Pinot Blanc. The global Champagne market is booming, with celebrations, sporting events, anniversaries, weddings, and corporate gatherings driving demand. Import-export potential is high, making it an attractive business opportunity for Champagne producers. No taste additives ensure the authenticity of Champagne, maintaining its alcoholic beverage status as a premium and joyous occasion drink. 

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Market Challenges

• The champagne market faces increasing competition from other sparkling wines, particularly prosecco, due to their more affordable prices. Champagne's high cost, influenced by inflation and supply shortages, has led consumers to explore alternatives such as tequila, liqueur, schnapps, and ready-to-drink cocktails. These beverages cater to various consumer preferences, including non-alcoholic options. The growing popularity of these alternatives may negatively impact the champagne market's growth during the forecast period.
• The global champagne market is a thriving sector of the alcoholic beverage industry, with Champagne being the most famous sparkling wine. This luxury alcoholic beverage is primarily made from three grape varieties: Pinot Noir, Pinot Meunier, and Chardonnay. The flavors of champagne can vary, with notes of citrus, apple, almond, and sometimes rosé. Champagne is often associated with joyous occasions such as sporting events, anniversaries, weddings, and corporate gatherings. However, the champagne market faces challenges. Consumers prefer authentic tastes and vintage wines, making it crucial for champagne producers to maintain high-quality standards. Alcohol usage regulations and peer ties to specific brands also impact sales. Supermarkets and specialty stores are significant sales channels, but pubs, restaurants, bars, and food service restaurants are also key players. The market is competitive, with spirits and wine also vying for consumers' attention. Luxury champagnes, like Ruinart, differentiate themselves through organic/natural ingredients, vegan ingredients, and eco-friendly packaging. The alcoholic beverage market continues to evolve, requiring champagne producers to adapt and innovate to meet changing consumer preferences.

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Segment Overview 

This champagne market report extensively covers market segmentation by  

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Price Range
• 2.1 Economy
• 2.2 Mid-range
• 2.3 Luxury
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  Champagne is primarily distributed offline through individual retailers, supermarkets, hypermarkets, and beverage stores. Supermarkets and hypermarkets are the leading distribution channels due to their large shelf spaces and diverse selection of champagne brands. Major retailers like Tesco Plc (Tesco), Carrefour SA (Carrefour), and Target Brands (Target) dominate this segment. Consumers prefer these channels for their convenience and the ability to find a wide range of champagne products under one roof. The organized retail industry's growth contributes to the expansion of champagne sales through these channels. Rising disposable incomes and urbanization further boost demand, benefiting local champagne manufacturers and driving the global champagne market growth.

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Research Analysis

The Champagne market is a thriving industry centered around the production and distribution of this iconic alcoholic beverage. Known for its fine bubbles and elegant taste, Champagne is made primarily from three grape varieties: Pinot Noir, Pinot Meunier, and Chardonnay. These grapes are harvested from vineyards in the Champagne region of France and transformed into a delicious, celebratory drink. Champagne is synonymous with joyous occasions, from sporting events and anniversaries to weddings and corporate gatherings. The drink's crisp, refreshing flavor pairs perfectly with a variety of foods, including citrus, apple, and almond. Food service restaurants, bars, and mixologists frequently feature Champagne on their menus for special occasions and office parties, as well as for everyday dinners. Vintage Champagnes, such as those produced by Ruinart, are highly sought after for their complex flavors and aging potential. Whether enjoyed on its own or mixed into a cocktail, Champagne continues to be a popular choice for those looking to add a touch of elegance and sophistication to their celebrations.

Market Research Overview

Champagne is a renowned alcoholic beverage known for its luxurious and celebratory image. Produced primarily in the Champagne region of France, it is made from three grape varieties: Pinot Noir, Pinot Meunier, and Chardonnay, with Pinot Noir being the most commonly used. The flavors of Champagne can vary from citrus and apple to more complex notes of almond and brioche. This bubbly beverage is often associated with joyous occasions such as sporting events, anniversaries, weddings, corporate gatherings, and birthdays. It is also popular in food service restaurants, bars, and pubs. Rosé Champagne adds a pink hue to the celebration, while vintage wines offer authentic flavors and tastes. The global champagne market continues to grow, with an increasing demand for luxury, organic/natural ingredients, vegan ingredients, and eco-friendly packaging. Supermarkets, specialty stores, online retailers, and direct-to-consumer (DTC) channels are key players in the champagne market. Mixologists and bartenders often incorporate Champagne into their cocktails, adding to its versatility and popularity. The champagne market is not just limited to Champagne houses and producers but also includes spirits, wine, and other alcoholic beverages. With the rise of health-friendly beverages, there is an increasing demand for gluten-free, low carb, and vegan-friendly options. The import-export potential of Champagne is significant, with many countries recognizing its prestige and desirability. Champagne is a symbol of luxury and celebration, making it a popular choice for various occasions. Whether it's enjoyed in an ice bucket with friends or mixed into a cocktail by a skilled mixologist, Champagne adds a touch of elegance and joy to any gathering.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Price Range
• Economy
• Mid-range
• Luxury
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio