The global Champagne Market Growth Accelerated by Increasing Adoption in Social Gatherings




Champagne is a sparkling wine produced from grapes grown in the Champagne region of France with specific production methods. It is renowned worldwide for its fine taste, premium quality and noble status. Champagne helps in adding charm and celebration to social events, parties and gatherings. The increasing socialization and celebrations across regions have propelled the demand for Champagne.

The global Champagne Market is estimated to be valued at US$ 7.67 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing trend of social gatherings such as wedding ceremonies, formal parties, birthdays and corporate events have accelerated the adoption of Champagne globally. The perception of Champagne as a symbol of luxury, wealth and sophistication has prompted its use in enriching the lifestyle events and celebrations. Various innovations such as premium packaging, novel blends and limited-edition varieties by major players as per the changing consumer preferences are also propelling the market growth. Expanding organized retail and e-commerce channels have further ensured wider availability and accessibility of Champagne to consumers across regions.

Segment Analysis

The global champagne market is dominated by sparkling wine segment. This is due to the high demand for bubbles and festivity associated with sparkling wine. The sparkling wine segment accounted for around 80% value share in 2023 led by its widespread popularity in events and celebrations. Rosé champagne is emerging as the fastest growing segment in the recent years on account of rising number of young consumers preferring fruits over dry flavors.

Key Takeaways

The global champagne market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising disposable incomes and increasing social drinking habits. The global Champagne Market is estimated to be valued at US$ 7.67 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.

Regional analysis shows Western Europe dominating the global champagne market with around 60% value share in 2023. France accounted for the largest share led by Champagne region which contributes 97% of total French sparkling wine production. North America is the second largest market for champagne driven by extensive consumption especially in United States.

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

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