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2020
Champagne Market

Champagne Market

by Price Point (Economy, Mid-range, and Luxury) and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, On Trade, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A05938
Pages: 190
Jan 2020 | 9512 Views
Author(s) : Shankar B , Roshan D
Tables: 84
Charts: 45
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The champagne market size was valued at $5.8 billion in 2018, and is estimated to reach $7.4 billion by 2026, registering a CAGR of 3.2% from 2019 to 2026. In 2018, France accounted for more than half of the global champagne market share.

Champagne refers to sparkling wine produced in the Champagne region in France. This alcoholic drink is produced from specific types of grapes Pinot Noir, Pinot Meunier, Chardonnay, Pinot Blanc, and others with specific vineyard practices. Champagne has been consumed for decades as a celebration drink at sport events, anniversaries, parties, weddings, joyous occasions, and corporate events.

Champagne Market

The global champagne market growth is majorly driven by increase in demand for luxury alcoholic beverages of fine quality. The major share of the consumers of this market belongs to the top 10% of the earning population. Hence, they are more inclined towards fine quality as well as exclusivity of the products, and are willing to pay a premium price for the same, which further drives the growth of the champagne market. As the living standards are increasing globally, the aspiration of consumers to consume luxury goods and services is also expected to grow. As an ingredient, champagne has been gaining popularity in cuisines and variety of cocktails in the food service industry, which is expected to propel the growth of the champagne market during the forecast period. Non-vintage champagnes are the most preferred choice among the consumers, due to their superior quality and reasonable pricing. The non-vintage champagnes are widely consumed for their brand familiarity, taste and aromas of a particular brand or label.

Champagne Market
By Price Point

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The luxury segment would witness the fastest growth, registering a CAGR of 4.0% during the forecast.

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The global champagne market is segmented into price point, distribution channel, and region. By price point, the market is divided into economy, mid-range, and luxury. By distribution channel, it is segregated into supermarket/hypermarket, specialty stores, on trade, and others. Region wise, the champagne market analysis is carried out across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).

On the basis of price point, the economy segment was dominated the global market in 2018, which accounted for more than half of the share, and is expected to retain its dominance throughout the champagne market forecast period. Rise in income of middle–class and upper middle-class population in developing countries has increased the consumption of economically priced champagne on special occasions for celebrations, thereby boosting the market growth.

Champagne Market
By Distribution Channel

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On trade segment would witness the fastest growth, registering a CAGR of 4.0% during the forecast period.

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Depending on distribution channel, the supermarket/hypermarket segment held a significant share in the global market in 2018. However, the demand for on trade distribution channels is on an increase with changes in consumer preferences, due to rise in disposable income. In addition, surge in number of younger population and change in preference (to visit bars and restaurants) of the consumers makes way for the growth of the on trade distribution channel segment.

Champagne Market
By Region

2026
Europe 
North America
Asia-pacific
Lamea

Europe is the largest market growing at a CAGR of 2.9% from 2019-2026.

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Region wise, Europe garnered the maximum share in the global champagne market. This is attributed to high per capita consumption of champagne in majority of the countries in Europe, including France, Germany, Italy, and the UK. The fast pace of urbanization globally has resulted in increased demand for luxury goods and services, especially in developing economies like China, Brazil, India and other countries in LAMEA and Asia-Pacific. Furthermore, consumption of champagne at special occasions is considered to be a status symbol, which is anticipated to offer lucrative opportunities to manufacturers to distribute and sell their products. In addition, organization of international events such as film festivals, art exhibitions, auctions, and awards shows has increased the demand for champagnes at such social affairs, thereby augmenting the growth of the champagne market.

The players in the champagne market have adopted product launch and business expansion as their key developmental strategies to expand their share, increase profitability, and remain competitive. The key players profiled in the report include Laurent Perrier, Centre Vinicole - Champagne Nicolas Feuillatte, Louis Vuitton SE, Taittinger, Pernod Ricard, LANSON-BCC, Thiénot Bordeaux-Champagnes, Piper-Heidsieck, Pommery, and Veuve Clicquot Ponsardin.

Key Benefits for Stakeholders

  • The report provides a quantitative analysis of the current champagne market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing champagne market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the champagne industry.

Champagne Market Report Highlights

Aspects Details
By Price Point
  • Economy
  • Mid-range
  • Luxury
By Distribution Channel
  • Supermarket/Hypermarket
  • Specialty Stores
  • On-Trade
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Belgium, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Center Vinicole - Champagne Nicolas Feuillatte, LVMH Group (DFS Group Limited), Lanson-BCC, Laurent-Perrier, Palmer & Co, Pernod Ricard, Piper-Heidsieck, Taittinger, THIÉNOT BORDEAUX-CHAMPAGNE, Vranken Pommery Monopole SA
 

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Rise in demand for innovative flavors of champagne is the major factor that boosts the champagne consumption. Huge demand for non-vintage champagne has been witnessed during the past years. This is attributed to increase in consumer attractiveness toward non-vintage champagnes, owing to its significant quality and reasonable pricing. The demand for flavors of champagnes have led manufacturers to invest more in R&D, thereby propelling the market growth.

The champagne consumption is led by Europe, as the region has higher per capita daily consumption of champagne as compared to other regions. However, Asia-Pacific has been offering incremental opportunities for the champagne market, owing to increase in disposable income and rise in aspiration of consumers toward experiential luxury. Furthermore, manufacturers are focused toward providing innovative and attractive product offerings, in terms of packaging, flavor, and style of the products to gain a higher share in the champagne market.

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FREQUENTLY ASKED QUESTIONS?

A. The growth rate of the champagne market is 3.2% during the forecast period

A. The global champagne market was valued at $5.8 billion in 2018 and is anticipated to reach $7.4 billion by 2026.

A. The leading manufacturing companies in the Champagne market include Laurent Perrier, Centre Vinicole - Champagne Nicolas Feuillatte, LVMH, Taittinger, Pernod Ricard, LANSON-BCC, Thiénot Bordeaux-Champagnes, Piper-Heidsieck, Pommery, and Palmer & Co

A. Product and packaging innovation and availability of new flavors of champagnes is likely to shape the future of the champagne industry in the near future.

A. Increase in demand for premium quality luxury products and increasing disposable income due to rapid urbanization are driving the champagne market and the growing demand from emerging markets is offering opportunities for champagne market

A. Stringent government policies about the advertisement and promotion and selective distribution of the champagne products are the challenges faced by champagne market

A. The on-trade channel witnessed the highest growth rate owing to increasing penetration of the bars and lounge culture, which in turn, boosting the growth of the market during the forecast period

A. Owing to the increasing consumption of champagne as a celebration drink and its growing consumption among on trade channels, the market is likely to grow at a significant rate during the forecast period.

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