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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Champagne MarketThe global champagne market size was valued at USD 5.5 billion in 2018. Increasing alcohol consumption in different parts of the world, fueled by increasing purchasing power, is expected to remain a key driving force. Rising spending by bars, hotels, lounges, and airlines services to keep champagne with various flavor variants on their menu is projected to be a prominent trend. Other factors driving the market include changing consumer lifestyles, rising brand awareness, and evolving use of champagne in various cocktails and cuisines. Over decades, champagne has been identified as a celebration drink at social gatherings, weddings, and corporate events in most developed countries, including U.S., France, U.K., and Germany. This trend is gradually making its way to a number of Asian countries, such as China, Japan, and South Korea. Over the past few years, an increasing number of bars and restaurants have been focusing on expanding their inventory of wines and spirits. Furthermore, gaining popularity of vintage wines on account of rising awareness among consumers regarding authentic flavors is expected to have a positive impact on market growth. As a result, airlines like Lufthansa and Emirates also offer vintage wines like champagne for their business-class flyers. Luxury and style have emerged as unique selling propositions among airlines to expand their reach. Airport expansions in developing economies like China, India, and Thailand now include a bar and lounge serving premium alcohol, which is a result of supportive government policies aimed at boosting domestic aviation sectors. This will open new avenues for industry participants across the value chain. To complement the growing preference and demand for champagne, manufacturers have been continuously coming up with various flavors like peach, strawberry, blueberry, orange, pineapple, apple, pear, citrus, cream, vanilla, and nutty to attract evolving palettes. This has proved to be an effective strategy to bring on board even those consumers who might find the regular classic champagne unpalatable. Chefs around the world have been using champagne as an ingredient in their signature cocktails and dishes.
Product Insights of Global Champagne MarketBlanc de blancs held the largest share of more than 25.0% in the global market in 2018. Referred to as the soul of champagne, this product variant is prepared from chardonnay alone. It is widely popular among consumers owing to its good natural acidity and distinct minerality. This amalgamation gives it an opportunity to age well. In addition, it can be paired with an extensive range of foods such as shellfish, turbot, sea bass, or even strongly flavored aged cheese. Some of the most popular varieties are Krug Clos du Mesnil, Palmer & Co Blanc de Blancs, Taittinger Comtes de Champagne Blanc de Blancs, Pol Roger Blanc de Blancs, and Chartogne-Taillet Heurtebises. Prestige Cuvee is expected to be the fastest growing segment, registering a CAGR of 4.7% from 2019 to 2025. It is made from the finest grapes and often result in premium vintage champagne. These products come under expensive varieties, where the price generally ranges from USD 140 to USD 150 a bottle, at times exceeding USD 200. Some of the renowned brands are Moí«t & Chandons Dom Perignon and Louis Roederers Cristal. These are preferred owing to their complex flavor characteristics as compared to other champagnes.
Distribution Channel InsightsOff-trade channels accounted for the largest share of more than 85.0% in the global champagne market in 2018, owing to high market visibility of liquor shops as a key buying source among consumers. The cost of a bottle is lesser when bought from a store rather than at a bar, which makes it more lucrative. Store owners have been adhering to specific laws and customer requirements to ensure maximum sales. On-trade channels are expected to witness a CAGR of 5.3% from 2019 to 2025. This segment includes wine bars, restaurants, gastropubs, and pubs that serve a wide range of drinks. Champagne is also combined with a wide variety of cuisines and this is expected to attract consumers.
Regional Insights of Global Champagne MarketEurope is the largest regional market and accounted for more than 65.0% of the global revenue in 2018. The region is expected to retain its dominance in the near future as a result of high product acceptance among consumers in U.K., France, Belgium, and Germany. Furthermore, online delivery of alcohol has been legalized in various countries, including U.K. and Germany, making the product more accessible and convenient to shop for. Trade associations, such as the Comite Champagne, have been taking efforts to promote the interests and economic growth and monitoring of winegrowers as well as houses that purchase and market the wine. As part of the efforts, the Comite launched an app for both iOS as well as android users, along with a website called Champagne Campus. The association also strives to create brand awareness among people. Asia Pacific is expected to be the fastest growing market, exhibiting a CAGR of 6.6% from 2019 to 2025. This growth rate is attributed to rising product consumption in countries like Australia, Japan, China, Hong Kong, and Taiwan, fueled by changing lifestyle, surge in disposable income, influence of pop culture, and increasing availability of international brands. Rise in social and corporate events on a grand scale has also contributed to product demand.
Champagne Market Share InsightsSome of the key players are Centre Vinicole - Champagne Nicolas Feuillatte, LANSON-BCC, Laurent Perrier, LVMH Moí«t Hennessy - Louis Vuitton SE, and Pernod Ricard. Other prominent participants include Piper-Heidsieck, Pommery, Taittinger, Thienot Bordeaux-Champagnes, and Veuve Clicquot Ponsardin. Companies are focused on innovating their product line by introducing various flavor variants in order to maintain a competitive edge over each other.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Champagne Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global champagne market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Prestige Cuvee
- Blanc De Noirs
- Blanc De Blancs
- Rose Champagne
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...