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Champagne Market Size, Growth Analysis, Opportunities, Business Outlook And Forecast By 2026

06-14-2021 07:05 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Champagne Market

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." According to the report, the global champagne industry was estimated at $5.96 billion in 2019, and is expected to hit $7.4 billion by 2026, registering a CAGR of 3.2% from 2019 to 2026.

Increase in demand for premium quality luxury products and rise in disposable income due to rapid urbanization fuel the growth of the global champagne market. On the other hand, implementation of stringent government policies toward advertisement and distribution and selective distribution of products impede the growth to some extent. Nevertheless, increase in the drift of vending standardized premium products among retailers and other distributors are expected to create numerous opportunities for the key players in the industry.

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Covid-19 scenario-
• The outbreak of the pandemic brought forth a lot of restrictions and the global champagne market had its reasonable part of hurdles in terms of growth.
• Also, there have been huge shifts in the consumption pattern from bars and taverns to the living room.
• Simultaneously, closing of supermarkets created huge disruptions in distribution of the products.
• Nevertheless, government bodies across the world are coming up with several relaxations and the market is expected to retrieve its position soon.

Based on distribution channel, the supermarket/hypermarket segment accounted for nearly two-fifths of the global champagne market revenue in 2019, and is projected to rule the roost till 2026. This is attributed to rise in availability of huge varieties of products at supermarkets. Moreover, these stores serve as one-stop destination for low-priced products, thereby offering increased convenience to consumers. At the same time, the on trade segment would grow at the fastest CAGR of 3.9% during the forecast period, owing to increase in bars and lounge culture.

Based on price point, the economy segment contributed to around two-thirds of the global champagne market share in 2019, and is expected to lead the trail by the end of 2026. The same segment is anticipated to grow at the fastest CAGR of 3.3% throughout the forecast period. This is due to to rise in disbursements by bars, hotels, lounges, and airline services to keep champagne with various flavor variants on their menu. The report also analyzes segments including luxury and mid-range.

Based on region, Europe, followed by North America, garnered the highest share in 2019, generating nearly three-fourths of the global champagne market. This is because majority of champagne is produced and consumed in the region. The Asia-pacific region would register the fastest CAGR of 4.7% by 2026, owing to increase in consumer income in the province. Also, premium pricing of products has provided untapped opportunities for the market participants.

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.

Access Full Report Summary: https://www.alliedmarketresearch.com/champagne-market-A05938

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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