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Global Champagne Market Growth, Size, Analysis, Outlook By Trends, Opportunities And Forecast

Global Champagne Market

Global Champagne Market: Overview

Champagne is an alcoholic beverage made from various grapes and flavours such as citrus, almond, and apple to enhance the overall flavour. It is aged for several years to add texture and complexity, and it is available in a variety of sweetness levels. When compared to wine, it has fewer calories and sugar while having higher levels of resveratrol. Its low to moderate consumption has a variety of health benefits, including mood enhancement, lowering bad cholesterol, lowering the risk of diabetes, improving heart health, reducing blood vessel damage, and preventing dementia and blood clots. Champagne is now widely consumed as a celebratory drink on special occasions such as anniversaries, parties, weddings, sporting events, and corporate events worldwide.

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Market Dynamics:

Economic growth in developing countries is a key factor driving growth in the Champagne market, particularly in developing economies worldwide. Another factor driving the growth of the Champagne market is rising acceptance of alcohol consumption among consumers in developing economies. One of the key trends currently observed in the global Champagne market is the availability of a wide range of flavoured Champagnes. However, excessive Champagne consumption can cause nausea, vomiting, headaches, and dizziness. This is a major factor limiting the global Champagne market’s growth.

Global Champagne Market: Major Players
Piper-Heidsieck
Taittinger
Veuve Clicquot Ponsardin
Centre Vinicole – Champagne Nicolas Feuillatte
Louis Vuitton SE
Pommery
Thiénot Bordeaux-Champagnes
Pernod Ricard
Laurent Perrier
LANSON-BCC

Global Champagne Market: Types
Economy
Mid-range
Luxury

Global Champagne Market: Applications
Supermarkets/hypermarkets
Specialty stores
Online stores
Others

Trends:

The growing nightlife culture and peer approval of drinking habits are expected to drive demand for champagne. Champagne was traditionally consumed only to commemorate milestones or to celebrate shard success.
Rising consumption of champagne during casual meetings, albeit in small amounts, is expected to boost overall champagne sales. People are travelling for work and settling in different parts of the world as a result of globalisation.
They are attempting to follow customs from various cultures, and they have become more accepting of various religious practises. This has significantly reduced the stigma associated with alcohol consumption in some countries. This, in turn, is expected to have an impact on global demand for champagne markets.

Strict regulations on the use of specific grape varieties such as Pinot Noir, Chardonnay, Pinot Meunier, Pinot Blanc, and Pinot Gris, as well as processes such as Guyot, Royat, Chablis, and Vallée de la Marne, are expected to eliminate low-quality champagne production. It is expected to provide manufacturers with manufacturing guidelines. As a result, consumers will be served higher-quality drinks, and sales of champagne will increase in regional markets.
Key brands are focusing on branding and advertising champagne brands, which frequently portray them as royal drinks. As a result, the elite class is eager to experience the grandeur. The development of wine cellars and wine tasting events is expected to raise consumer awareness and demand for champagne consumption globally.

Impact of COVID-19:

Champagne sales were negatively impacted during the early stages of the COVID-19 outbreak due to the cancellation of weddings, graduation ceremonies, and other celebrations. Champagne consumer interest has declined significantly, with a loss of 18% projected by the end of 2020.
Due to travel restrictions, France, the leading exporter, saw a 90% drop in the volume of bottles shipped. However, as the economy recovered from the pandemic’s shock, demand for champagne skyrocketed in key cities such as the United States, France, Australia, and the United Kingdom.
Champagne demand is expected to increase during the assessment period due to consumer willingness to spend on high-quality wine.