Champagne Market Industry Analysis And Forecast, 2019 - 2025

01/mar/2021 10:19:53 Grand View Research Contatta l'autore

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A recent report by Grand View Research has projected the global champagne market to witness healthy growth over the coming years, owing to changing lifestyles and traditions across the globe, the rise in number of pubs, bars, and restaurants, and innovations on the part of manufacturers.

 The global champagne market size is projected to reach USD 7.2 billion by 2025, advancing at a CAGR of 4.0% during the forecast period, as per a report by Grand View Research, Inc. Factors such as rapid shift in lifestyles, growing brand awareness, online sales, and evolving use of champagne in various cocktails and cuisines is expected to positively impact the market growth in the coming years. With an increasing number of bars and restaurants have been focusing on expanding their inventory of wines and spirits, the market is expected to further expand at a healthy pace. Furthermore, there has been an increased involvement of celebrities and public figures in this space, who have been teaming up with leading brands to launch new products, which has enhanced the market scenario in recent years. Some of the notable names in this space include Aubrey Drake Graham, the famed singer, who launched his champagne range under the French label Mod Sélection in January 2019, in collaboration with Brent Hocking, founder of DeLeón Tequila and Virginia Black Whiskey.

There has been a rising spending by bars, hotels, lounges, and airline services to keep champagne with various flavor variants on their menus to cater to individual tastes, which has led to a steady market growth. Champagne has become a major celebratory drink on various occasions such as weddings, anniversaries, baby showers, and house-warming parties, which has caused a continued increase in the product demand in major economies such as the U.S., Europe, Australia, and Southeast Asian economies such as India and China, which have slowly embraced these trends. Additionally, the rapid development of airports around the globe have provided growth avenues to manufacturers to sell their offerings at bars and lounges, effectively adding another stream for healthy revenue. A growing infusion of different flavors such as peach, strawberry, blueberry, orange, pineapple, apple, pear, citrus, cream, vanilla, and nutty, has also aided in driving industry advancement.

 The champagne market is broadly segmented on the basis of product and distribution channel. Major product segments include Prestige Cuvée, Blanc De Noirs, Blanc De Blancs, and Rosé, among others. The notable distribution channels include on-trade and off-trade channels.  Champagne manufacturers have been striving to innovate the containing bottles to stand out and create their own signature. Some of the key players operating in the global market are Centre Vinicole - Champagne Nicolas Feuillatte, LANSON-BCC, Laurent Perrier, LVMH Moët Hennessy - Louis Vuitton SE, and Pernod Ricard. Other prominent players are Piper-Heidsieck, Pommery, Taittinger, Thiénot Bordeaux-Champagnes, and Veuve Clicquot Ponsardin.

Further key findings from the report suggest:

 1        As per data by OIV, the global sparkling wine production witnessed an increase of 57% for the period 2002-2018, with the Western European nations of Italy, Germany, Spain, and France leading in the production

2        The major grape varieties used in preparing champagne include Pinot Noir, Pinot Meunier, and Chardonnay; Pinot Noir accounts for 38% of all grape plantings, with Pinot Meunier and Chardonnay being joint-second at 31%

3        On the basis of product, the Blanc De Blancs accounted for the dominant share of close to 26.0% in the champagne market in 2018. It is widely preferred by consumers due to its good natural acidity and distinct minerality

4        In terms of distribution channel, the off-trade segment held the leading share of more than 85.0% in 2018 in the champagne market, with the high market visibility of liquor shops being a key buying source among consumers

5        Europe accounted for the largest revenue share of more than 65.0% in 2018, with demand predominantly stemming from consumers in U.K., France, Belgium, and Germany; furthermore, these economies are the major exporters of champagne, which leads to substantial revenue generation

6        Asia Pacific is expected to be the fastest growing champagne market with regards to consumption, registering a CAGR of 6.6% from 2019 to 2025. This is attributed to the increasing prominence of champagnes at social gatherings and corporate events in countries such as Japan, South Korea, and Australia

7        Usain Bolt, the Olympics champion sprinter from Jamaica, launched his signature champagne Mumm Olympe Rosé in January 2019. The product is available in a slender necked bottle for aromatic development of the beverage

8        In March 2019, a French winemaker launched a bottle for champagne packaging that changes color when cooled enough, to indicate that it is ready to be served. The original color of the bottle is white, but when chilled, appears to be covered in musical notes and butterflies

9        Mumm Grand Cordon redesigned its packaging by replacing its front label with an original red ribbon that has been laser cut into the glass, resembling the signature Mumm sash. Such developments are expected to enhance consumer interest and demand, thus positively expanding the market

Grand View Research has segmented the global champagne market on the basis of product, distribution channel, and region:

Champagne Product Outlook (Revenue, USD Million, 2015 - 2025)

·       Prestige Cuvée

·       Blanc De Noirs

·       Blanc De Blancs

·       Rosé

·       Others

What questions do you have? Get quick response from our industry experts @

https://www.grandviewresearch.com/request-free-consultation/6358/rfc

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