Global Champagne Market Size, Share, Growth Analysis, By Price Point(Economy, Mid-Range), By Distribution Channel(Supermarket, Specialty Stores), By Product Outlook(Prestige Cuvee, Blanc De Noirs) - Industry Forecast 2022-2028

Champagne Market was valued at USD 6.11 Billion in 2021, and it is expected to reach a value of USD 9.3 Billion by 2028, at a CAGR of 6.20% over the forecast period (2022 - 2028).

Champagne is a sparkling wine made in the Champagne region of France. Certain grape types, including Pinot Noir, Pinot Meunier, Chardonnay, Pinot Blanc, and others, as well as unique agricultural techniques are used to create this alcoholic beverage.

For many years, champagne has been served at athletic events, milestone anniversaries, parties, weddings, happy occasions, and business gatherings. Over the projected period, the expanding economies of developing nations may be a significant driver of the worldwide champagne market's expansion in other regions. Manufacturers have created a variety of flavours to satisfy a variety of palates in order to suit the growing customer demand for champagne.

The COVID-19 epidemic has had a particularly negative influence on Champagne more than any other wine category. The industry's sales decreased by almost $2 billion, or one-third, between April and August 2020. Champagne was not purchased in the amount of 100 million bottles. Particularly heavily hurt were premium brands. Nonetheless, sales of champagne are now increasing.

The drop wasn't shocking. Champagne is frequently used to mark pleasant moments. During a widespread pandemic, there wasn't much to celebrate. Even if there were, it was practically difficult for big crowds to assemble due to the global lockdowns.

Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Champagne Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

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 Cuvee, Blanc De Noirs, Blanc De Blancs, Rose Champagne. Based on Region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Recently, the champagne industry has recognised emerging markets as a critical opportunity. Alcohol consumption is becoming increasingly accepted, and there is an increasing need for little amounts for special occasions, which will support growth in emerging economies. In addition to a rise in nightlife and a culture that is centred on social approbation, alcohol acceptance on nonreligious grounds is also growing. Furthermore, younger children are being exposed to the lifestyle thanks to the growing popularity of social media, which is also fostering peer relationships and information sharing among young people who haven't had much exposure to alcohol.

Restraint

Obstacles in the champagne sector include rigorous government limitations on marketing and promotion as well as the limited distribution of champagne products.

Market Trends

The market for alcoholic beverages and champagne is mostly driven by the premiumization of the sector, especially with regard to spirits and wine. Because of the wide selection of brands and varieties available as well as the immediate customer assistance, consumers prefer to purchase champagne from physical locations.

As if it adds a sense of dignity to purchase champagne, buying through offline retail establishments is also seen as a trend. Hence, offline retail outlets recorded the most market share in the champagne industry. Due to the wide choice of brands and products offered at these locations, as well as the quick customer service, consumers prefer to purchase champagne from offline retailers.

The desire of customers for luxury goods and services is anticipated to increase as global living standards grow. The foodservice sector, which is anticipated to drive the champagne market over the forecast period, has seen champagne acquire appeal as an ingredient in a number of dishes and beverages.