Champagne - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Champagne - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Champagne Market size is estimated at 264.10 Million liters in 2024, and is expected to reach 324.10 Million liters by 2029, growing at a CAGR of 4.18% during the forecast period (2024-2029).

Champagne is made from various grapes and flavors like citrus, apple, and almond. Demand for champagne is increasing in the regions like Europe and North America because of the increase in food service restaurants and bars. People used to have champagne for special occasions like achievements or weddings. But these days, casual drinking on birthdays, office parties, and dinners is increased in the region. Furthermore, vintage wines and champagnes are gaining popularity worldwide because of consumer awareness regarding authentic flavors and tastes. Over the medium term, industry premiumization remains one of the major factors driving the alcoholic beverage market, particularly spirits and wine.

Due to the increased disposable income, consumers quickly buy expensive luxury champagnes for their special occasions. Product innovations by manufacturers regarding the usage of organic/natural and vegan ingredients, as well as eco-friendly packaging in the case of champagne, are allowing deeper penetration and expansion to new markets across the globe. For instance, in April 2021, Ruinart Champagne launched the new Eco-Friendly Second Skin Packaging for its champagne. The new 100% paper case is fully recyclable and can withstand an ice bucket chill for several hours before deteriorating. The innovative design was created to maintain the wine's integrity by blocking incoming light while keeping the case conscious of the planet.

Champagne Market Trends

Online Platform to Increase the Market Growth

Online retailing of alcohol, including champagne, is growing faster. The on-demand delivery apps, such as Drizly and liquor.com, are the driving forces of this segment. Recently, prominent e-commerce retailers also entered the market to cater to the increasing demand from consumers. Traditionally, champagne brands have relied exclusively on distributors and retailers to sell their wines. Still, as the hospitality sector continues to struggle, direct-to-consumer (DTC) channels have become attractive for producers to recuperate lost revenue. Many airport expansions in the countries like China, India, and Japan are also the reasons for the champagne market growth. The number of bars and restaurants increased the online sales of champagne as it is a convenient option for off-trade purchases. Furthermore, the import-export potential of the countries is also expected to drive the market.

Europe Held a Significant Share

Being native to the region, Champagne witnesses high penetration among other alcoholic beverages. As a result, globally, the European area holds a significant share in champagne consumption, whereby most of the champagne produced in countries like France, the United Kingdom, and Germany, among others, is exported to more than 150 countries across the globe. Additionally, the growing prevalence of premiumization in the industry is boosting the value sales of the product. Champagne variants that use descriptors like no taste additives, gluten-free, low carb, vegan-friendly, organic, and paleo-friendly have been gaining prominence among European consumers due to the increasing focus on health-friendly beverages. Furthermore, growing regional tourism is also driving the market as international visitors are attracted to exotic luxury champagnes. According to UNWTO data from 2021, international tourists visiting Europe in 2021 are 303.1 million.

Champagne Industry Overview

The champagne market is fragmented and highly competitive owing to the presence of multiple global and regional players offering various products. Key players in the market include Diageo plc, La Marca USA, F. Korbel & Bros., Cook's Champagne Cellars, and Champagne Taittinger CCVC, among others. These players have been embarking on mergers & acquisitions, product innovations, and partnerships, apart from expanding their production & distribution networks and strengthening their social media presence to garner a larger market share.

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• The market estimate (ME) sheet in Excel format
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