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