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Champagne Market Maximum Business growth with custom research 2021 | Pernod Ricard SA, Champagne Cattier, Krug Champagne

12-08-2021 10:03 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Champagne is a sparkling wine from France. Champagne is a generic name for all sparkling wines, although it is prohibited to label any drink other than champagne if it was created in the Champagne area of France and belongs to the same appellation as the original within the EU and some other countries. In the remainder of the EU, however, using the title "Cabernet" if the wine does not come from the same location as champagne is completely permissible. Champagne is created by boiling juice with sugar water and then evaporating the liquid to produce a clear, sparkling, and carbonated beverage. The flavour of finished champagne is determined by the variety of used.

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Competitive Analysis
Key players operating in the Champagne market icnlude, Bollinger, Pernod Ricard SA, Champagne Cattier, Krug Champagne, Champagne Pol Roger, Champagne Lanson, Louis Roederer, Champagne Pommery, Piper-Heidsieck, Laurent-Perrier, Nicolas Feuillatte, and Moet & Chandon.

In February 2021, Jay-Z announced he is teaming up with Moët Hennessy Louis Vuitton (LVMH), to expand his luxury champagne brand. In April 2019, Moet & Chandon introduced its new collection of champagne called the Grand Vintage 2012.

Market Trends
Rapid brand awareness, innovative marketing, developing economic conditions, and an increase in champagne consumption in developing countries are the primary factors impacting the expansion of the champagne market. For example, according to Comite Champagne (a trade organisation for Champagne producers), the global champagne market generated around US$ 5.6 billion in revenue in 2018. Furthermore, the industry is predicted to rise due to the rapid increase in disposable income and good living standards.

However, the high cost of luxury champagnes, as well as a loyal audience, are the key restraints on the champagne market's expansion.

Asia-Pacific, North America, Europe, Africa and the Middle East, and Latin America are the five regions that make up this market. Due to the rise in disposable income and high level of living in the region, Europe is expected to hold a substantial portion of the champagne industry. According to National Statistics (UK), the gross average disposable income in the United Kingdom was roughly US$ 32,502 in 2018. Furthermore, the presence of major competitors in the region is projected to boost market growth. Because of the high demand for premium champagne from countries such as China, Japan, and Australia, among others, the champagne industry in Asia Pacific is expected to rise significantly.

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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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