Thechampagne market is expected to register growth at a CAGR of 5.08% and reach a valuation of US$ 11.7 Bn by 2032.
The alcohol beverage industry suffered from initial set back due to pandemic as spread of virus resulted in delays in
shipment, rise in packaging cost, and scarcity of containers. However, after the first wave subsidized and majority of
the population around the globe was vaccinated the alcoholic beverage industry bounced back due to government support
and incentives.
There has been a considerable increase in the number of brands and retailers offering wide varieties of alcoholic
beverages, the only distinction they can emphasize on is product diversification. As a result, key players are focusing
on developing niche products, specific to consumer requirements. This is expected to propel the demand for alcoholic
beverages globally which in turn will impact sale of champagne.
Pandemic affected in-store sales severely. To overcome distancing rules, companies developed their online portals and
delivered champagnes and other alcoholic beverages at consumer doorsteps. Even as the situation bounces back, many
distributors are predicted to change their business model by partnering with on-demand services that procure alcohol
from stores and deliver it to customers.
There is increase in consumption of champagne in home premises. As people are spending much time indoors, they are
expected to order premium quality champagnes from e-commerce sites. This is expected to reduce café and restaurant-based
alcohol consumption. Brands are expected to focus on offering such services to multiply sales of champagne.
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Surge in consumer spending capacity in regions such as North America, Europe, and Asia also has made it possible for
customers to splurge on alcoholic beverages during celebrations. Consumption of low alcoholic champagne is witnessing
high growth as consumers are shifting toward healthy drink options, which is expected to encourage sales of low-alcohol
champagne during assessment period.
Key Takeaways from Market StudyThe champagne market is expected to increase at CAGRs of 5.1% and 5.3% in North America and the Europe, respectively,
through 2032.Market share of Latin America and Oceania is 4.5% and 4%, respectively, in 2022.The Europe champagne market is expected to reach US$ at 1.6 BnGrowing customer preference for healthy and nourishing beverages to drive the sale of low alcohol champagne.By price range, economically priced champagne holds the highest market share and is expected to increase at a CAGR of
6.0%.
“Manufacturers of champagne will considerably gain from targeting the niche product and consumer segments in alcoholic
beverages industry. Consumer preference for nourishing drinks is expected to impact the demand for low alcoholic
beverages around the globe,”says a Future Market Insights (FMI) analyst.
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Competitive Landscape
Key manufacturers of champagne are majorly focusing on research & development to offer different varieties of alcoholic beverages. Permiumization is expected to contribute maximum
revenue generation through sale of champagnes. As key players focus on offering different flavours according to customer
preference to stand out in the competition.
Another trend that is prevalent in the champagne market is consumer preference for sustainable packaging. Consumers are
more sensitive towards adverse impacts on environment that are choosing brands that follow sustainable practices
throughout their supply chain. Brands that focus on these aspects are expected to benefit in long run.
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Champagne Market by Category
By Price Range, Champagne Market is Segmented as:EconomyMid-rangeLuxury
By Sales Channel, Champagne Market is Segmented as:Offline Sales ChannelSupermarkets/HypermarketsDepartmental StoresConvenience StoreOther Sales ChannelOnline Sales ChannelCompany WebsiteE-commerce Platform
By Region, Champagne Market is Segmented as:North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceaniaMEA
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Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses
opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel
and End Use over the next 10-years.
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