Global Champagne Market Forcasted for Accelerated Growth by 2024
Champagne is largely produced in the region of France. In order to produce the champagne, specific types of grapes are used such as Pinot Meunier, Pinot Noir, and Chardonnay. These grapes undergo the fermentation process after which the wine is produced that contains nine percent of alcohol. Champagne also has an alternative name as sparkling wine. All sparkling wines are not champagne, but all champagnes are sparkling wines.
Global Champagne Market: Segmentation
The champagne market is globally fragmented into the type of wine, grape type, distribution channel, and flavor. Based on the type of the grape used, the global market is segregated into Pinot Meunier, Pinot Noir, and Chardonnay. Based on the wine type, the market is categorized into blanc de noirs, rosé champagne, prestige cuvee, and Blanc de Blancs. Depending on the distribution channel, the market is bifurcated into specialty stores, supermarkets/hypermarkets, and online stores. The largest market share is held by supermarkets/hypermarkets. Depending on the flavors, the market is divided into the fruity and brut flavor. Fruity flavor segment is sub-divided into a pear, strawberry, cream, apple, nutty, citrus, and vanilla. The nutty flavored champagnes are common and the oldest world champagnes. The brute flavored champagnes have a dry taste but are popular.
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Global Champagne Market: Growth Factors
In the recent years, the champagne market is growing at a significant rate in the emerging economies. The growth in the approval of the alcohol consumption in the consumer’s cultural beliefs has triggered the growth of the market. The lounge and bars are specialized in providing a variety of alcoholic drinks that can be consumed by the consumers in the social environment, thus propelling the champagne market to grow. Many lounges also provide the consumers with inexpensive champagnes that are flavored which have become popular in many of the social gatherings. All these factors are supporting the growth of the bars and lounge culture in the society, which in turn, is triggering the growth of the champagne market. Another factor that is driving the growth of the market is the availability of several flavored champagnes which results in mounting the consumer base thus driving the champagne market. The introduction of flavors such as candy, fruity, and nutty has been leading to an increasing number of individuals to try and consume champagne.
Global Champagne Market: Regional Analysis
The market for champagne is geographically diversified into North America, the Middle East & Africa, Eastern Europe, Western Europe, Latin America, and Asia Pacific. The region that holds the maximum market share and is ruling the champagne market is Europe. The reason due to which the region is dominating the market is that majority of the champagne is consumed and produced in this region. The countries that are making the major revenue from this market in the European region are France and U.K. Other regions such as North America and Asia Pacific are also contributing a good market share in the champagne market.
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Global Champagne Market: Competitive Players
The key market players that are involved in the champagne market include LANSON-BCC, Champagne Laurent-Perrier S.A.S., Rémy Cointreau, Martel, Taittinger, Moët Hennessy USA, Vranken – Pommery Monopole, Pernod Ricard, Centre Vinicole Champagne Nicolas Feuillatte, and Louis Roederer.
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