Champagne Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Champagne Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global champagne market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 2.80% during 2022-2028. The growing popularity of wine tourism, rising number of e-commerce platforms, and increasing consumption of alcohol among the masses to cope with work stress and anxiety are some of the major factors propelling the market.

Champagne refers to a sparkling wine that is manufactured from three primary grape varieties, including chardonnay, pinot noir, and pinot Meunier. It often exhibits a range of characteristics, including crisp acidity, delicate fruitiness, toasty or yeasty notes, and an active effervescence. It is manufactured by adhering to strict regulations and traditional winemaking techniques. It is passed through an aging process where the bottles are stored horizontally on racks in underground cellars, allowing the wine to develop complexity and maturity. Furthermore, champagne is enjoyed as a celebratory drink and as a versatile companion to various cuisines.

At present, the increasing demand for champagne in various ceremonies or to celebrate victory in various competitions and occasions is impelling the growth of the market. Besides this, the rising consumption of alcohol among the masses to cope with work stress and anxiety is contributing to the growth of the market. In addition, the growing trend of gifting or serving champagne on various occasions, such as weddings, house warmings, bridal showers, birthdays, and business meetings, is offering a favorable market outlook. Apart from this, the increasing adoption of celebrities and social media influencer endorsements by champagne manufacturers to increase their sales and promote champagne as a luxurious beverage is supporting the growth of the market. Additionally, the rising utilization of champagne in bars, pubs, and restaurants to make champagne-based cocktails is bolstering the growth of the market.

Champagne Market Trends/Drivers:
Rising popularity of wine tourism

At present, wine tourism is gaining popularity globally, and the Champagne region is becoming a sought-after destination for wine enthusiasts. It allows enthusiasts to learn about wine-making processes, grape varieties, and wine pairings. It is an opportunity for people to expand their knowledge about different wines, their history, and how geography and climate can influence the characteristics of wine. It provides an opportunity to taste a variety of wines at their source, which is often seen as the best place to enjoy them. In addition, some wineries offer exclusive or limited-edition wines that are only available on-site. Furthermore, as wine tourism enables individuals to indulge in communal experiences and enjoy the scenic beauty of vineyards and taste of premium champagne, the demand for champagne is increasing among the masses.

Increasing number of e-platforms selling champagne

The growth of e-commerce and online retail platforms is transforming the champagne market by enabling consumers to have effortless access to a wide range of champagne brands and offerings from around the world. Online platforms also provide detailed product information, ratings, and reviews, empowering consumers to make informed purchasing decisions. It allows customers to browse and buy a wide variety of products, including champagne, at their convenience without having to leave their homes. This is valuable for individuals living in regions without easy access to stores with a good selection of wines. Online platforms provide competitive pricing due to lower overhead costs compared to traditional brick-and-mortar stores. Moreover, as they offer discounts, deals, and customer loyalty programs, the purchases of champagne from e-commerce sites are increasing.

Growing focus on sustainability and organic trends

At present, champagne manufacturers are increasingly focusing on sustainability and organic production methods to lower their carbon footprint and minimize the wastage of materials. Besides this, consumers are showing a preference for eco-friendly products due to growing environmental awareness. Champagne houses are adopting sustainable practices in vineyard management, energy consumption, and packaging to minimize pollution and promote their brand as a responsible producer. They are lowering the wastage of raw materials and recycling or composting the remaining products. Furthermore, they are generating sustainable energy sources, such as solar or wind power on-site, to lower their utility bills and prevent the over-expenditure of electricity.

Champagne Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global champagne market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, price and distribution channel.

Breakup by Product:

Prestige Cuvée
Blanc De Noirs
Blanc De Blancs
Rosé Champagne
Others

Blanc De Blancs dominate the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes prestige cuvée, blanc de noirs, blanc de blancs, rosé champagne, and others. According to the report, Blanc de blancs represented the largest segment.

Blanc de blancs refers to a sparkling wine that is produced using only white grape varieties. It offers a vibrant bouquet of citrus fruits like lemon, lime, and grapefruit, along with floral notes like white flowers and honeysuckle. It can be enjoyed on its own as a delightful aperitif or as a celebratory drink. Its crisp and refreshing nature, combined with elegant flavors, makes it a popular choice for toasting and special occasions. It pairs well with a variety of foods due to its bright acidity and nuanced flavors. It complements dishes, such as seafood, shellfish, sushi, and salads. Its versatility makes it suitable for both light and rich dishes.

Breakup by Price:

Economy
Mid-Range
Luxury

Economy holds the maximum share of the market

A detailed breakup and analysis of the market based on the price have also been provided in the report. This includes economy, mid-range, and luxury. According to the report, economy accounted for the largest market share.

Economy champagne is easily accessible and available at an affordable price range allowing consumers to enjoy high-quality champagne. Champagne houses and producers are responding to the growing demand by expanding their offerings and introducing more affordable options. The increasing production is making economy champagne readily available in markets around the world. Moreover, advancements in logistics and transportation are making it easier to distribute champagne to a wider audience and improving its accessibility in terms of geographical reach. Furthermore, the increasing trend of serving champagne on various occasions and celebrations is raising the demand for economy champagne among the masses.

Breakup by Distribution Channel:

Supermarket and Hypermarket
Specialty Stores
Online Stores

Supermarket and hypermarket hold the largest share of the market

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarket and hypermarket, specialty stores, and online stores. According to the report, supermarket and hypermarket accounted for the largest market share.

Supermarkets and hypermarkets are focusing on providing a one-stop shopping experience to their customers. These stores provide a wide variety of products, including groceries, beverages, household items, and more. Champagne is considered a premium product and is often perceived as a luxury item. By including champagne in their product offerings, supermarkets can enhance the perceived quality of their store, attracting customers who value the convenience of finding all their shopping needs in one place. Additionally, selling champagne provides supermarkets with an opportunity to differentiate themselves and stand out from their competitors. Champagne is a product category that is associated with prestige and offering a range of champagne options allows supermarkets to cater to different consumer preferences and budgets. By curating a selection of champagnes that vary in price points, brands, and styles, supermarkets are attracting a broader customer base and creating a competitive advantage over other retailers.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Europe exhibits a clear dominance, accounting for the largest champagne market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

Europe held the biggest market share due to the rising number of individuals consuming champagne at social gatherings and celebrations. Besides this, the increasing popularity of wine tourism in various chateaus and vineyards is propelling the growth of the market.

Another contributing aspect is the rising adoption of effective marketing methods by champagne producers to take their business to the global level is contributing to the growth of the market. In addition, the increasing influence of wine culture is propelling the growth of the market.

North America is estimated to expand further in this domain due to the rising consumption of alcohol among the masses. Besides this, the increasing number of nightclubs, bars, and pubs serving premium champagne to customers is bolstering the growth of the market.

Competitive Landscape:
Key market players are diversifying their product portfolio by introducing new cuvées, limited editions, and different styles of champagne. They are also focusing on sustainability practices to address environmental concerns and meet consumer expectations. Top companies are leveraging digital channels to reach consumers and drive sales. They are investing in online marketing campaigns, social media engagement, and influencer collaborations to create brand awareness and engage with their target audience. They are also experimenting with innovative packaging and branding concept by incorporating customized map into champagne bottles which allow consumers to track the journey of the bottle. Leading companies are actively targeting international markets to expand their reach and increase sales. They are experimenting with different winemaking techniques, including the use of organic and biodynamic practices.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Arvitis
Centre Vinicole – Champagne Nicolas Feuillatte
Champagne Piper-Heidsieck
Diageo
LANSON-BCC
Laurent-Perrier
LVMH Moët Hennessy Louis Vuitton
Pernod Ricard
Taittinger
Vranken - Pommery Monopole SA

Recent Developments:
In 2023, Pernod Ricard announced about the investment in ecoSPIRITS to scale up the distribution system for premium quality wine and spirits.
In 2022, Laurent-Perrier announced its partnership with leading department store Selfridges to launch a customization service in-store and online, offering Maison's first personalized tin for the iconic Cuvee Rose bottle.
In 2021, the Centre Vinicole - Champagne Nicolas Feuillatte and the Coopérative Régionale des Vins de Champagne merged to form a new cooperative called Terroirs et Vignerons de Champagne. The new group aims to reach a production capacity of 24 million bottles and a 5% market share within 5 years.

Key Questions Answered in This Report
1. What was the size of the global champagne market in 2022?
2. What is the expected growth rate of the global champagne market during 2023-2028?
3. What are the key factors driving the global champagne market?
4. What has been the impact of COVID-19 on the global champagne market?
5. What is the breakup of the global champagne market based on the product?
6. What is the breakup of the global champagne market based on the price?
7. What is the breakup of the global champagne market based on the distribution channel?
8. What are the key regions in the global champagne market?
9. Who are the key players/companies in the global champagne market?