Champagne Market Anticipated to Expand at a CAGR of 3.2% during the Forecast Period 2026

Rise in demand for premium quality luxury products and Increase in disposable income due to rapid urbanization augment the growth of the global champagne market

WILMINGTON, DE, UNITED STATES, October 30, 2024 /EINPresswire.com/ -- The global champagne industry size garnered $5.96 billion in 2018, and is projected to garner $7.41 billion by 2026, witnessing a CAGR of 3.2% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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The growth of the champagne market is propelled by upsurge in demand for luxury alcoholic beverages of fine quality. In addition, use of champagne as an ingredient in wide range of cuisines is expected to drive the champagne market growth in the near future. Moreover, manufacturers are increasingly investing in R&D to provide innovative flavors of champagne to gain competitive advantage over other players in the market.

Increase in demand for premium quality luxury products and rise in disposable income due to rapid urbanization propel the growth of the global champagne market. However, implementation of stringent government policies toward advertisement and distribution and selective distribution of products impede the market growth. On the other hand, providing selected standardized premium products to retailers and other distributers and developing markets offer lucrative opportunities to the market players.

Rise in demand for premium quality luxury products and Increase in disposable income due to rapid urbanization augment the growth of the global champagne market. Based on price point, the economy segment held the lion’s share.

The key market players analyzed in the report involves

Centre Vinicole - Champagne Nicolas Feuillatte, Laurent Perrier, Pernod Ricard, LANSON-BCC, Thiénot Bordeaux-Champagnes, Piper-Heidsieck, Pommery, Veuve Clicquot Ponsardin, Louis Vuitton SE, and Taittinger.

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The champagne market is segmented into price point, distribution channel, and region. By price point, the market is categorized into economy, mid-range, and luxury. Economy category of champagne in terms of price point has been the most preferred choice of champagne among the consumers, due to the combination of quality and reasonable pricing. The economy segment accounted for more than half of the market share in the global champagne market in 2018, and the trend is likely to be followed in the near future. However, the luxury segment is projected to grow at a significant rate in the near future, owing to increase in aspiration of consumers toward experiential luxury.

The global champagne market is segmented on theprice point, distribution channel, and region. Based onprice point, the market is divided into economy, mid-range, and luxury. The economy segment accounted for around two-thirds of the total share of the global champagne market in 2019. In addition, the same segment is expected to portray the largest CAGR of 3.3% from 2019 to 2026.

Based on distribution channel, the market is segmented on the basis ofsupermarket/hypermarket, specialty stores, on trade, and others. The supermarket/hypermarket segment accounted for the largest market share with more than one-third of the total share in 2019, and is estimated to maintain its lead position throughout the forecast period. Contrarily, the on-trade segment is expected to register the fastest CAGR of 3.9% from 2019 to 2026.

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Based on region, Europe accounted for the highest share, holding nearly three-fourths of the total share in 2019, and is estimated to maintain its dominant share during the forecast period. On the other hand, the Asia-Pacific region is also anticipated to manifest the fastest CAGR of 4.7% from 2019 to 2026. The market also analyses regions including Europe, North America, and LAMEA.

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