Champagne Market size to grow by USD 2.51 billion from 2023 to 2028, The market share growth by the offline segment will be significant during the forecast period- Technavio

NEW YORK, Nov. 29, 2023 /PRNewswire/ — The champagne market is expected to grow by USD 2.51 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. Growing demand for champagne from millennials is notably driving the champagne market. However, factors such as rising competition from other alcoholic beverages may impede market growth. The market is segmented by distribution channel (offline and online), price range (economy, mid-range, and luxury), and geography (Europe, North America, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format 

Key Segment Analysis

The market share growth by the offline segment will be significant during the forecast period. The biggest offline delivery channels for champagne are individual retailers, supermarkets, hypermarkets, and beverage stores. Through those distribution channels, consumers can choose from a wide variety of champagne products since each brand has its own sections. Furthermore, discounts and free products are offered to consumers who buy a certain number of products at hypermarkets and supermarkets, resulting in increased sales through these channels. Consumers will flock to hypermarkets and supermarkets, as disposable income increases and urbanization accelerates. Hence, these factors are expected to drive segment growth during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Germany, Italy, and France are the most popular champagne consumers in Europe. It is also the main regional market owing to its high grape production, especially in France. Value sales of champagne products are being enhanced by the growing use of premiumization in the champagne industry. Due to the growing interest of European customers in healthy drinks, champagne varieties with descriptions such as no flavor additives, gluten-free, low-carb, vegan, Organic and paleo are increasingly popular. Hence, these factors are expected to drive market growth in the region during the forecast period.

Company Insights 

The champagne market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Champagne GH Martel, Champagne Laurent Perrier, Champagne Louis Roederer, Champagne Nicolas Feuillatte, Champagne Piper Heidsieck, Champagne Taittinger CCVC, Champagne Veuve A.Devaux, Constellation Brands Inc., De Castellane, E. and J. Gallo Winery, F. Korbel and Bros, Joseph Perrier, Krug Champagne, LANSON BCC, LVMH Moet Hennessy Louis Vuitton SE, Veuve Clicquot Ponsardin, Pernod Ricard SA, Remy Cointreau SA, THIENOT SAS Co., and VRANKEN POMMERY MONOPOLE

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

The Scotch Whisky Market size is projected to increase by USD 15.11 billion and the market size is estimated to grow at a CAGR of 9.03% between 2023 and 2028.

The Vodka Market size is projected to increase by 422.1 million L, exhibiting a CAGR of 2.49% between 2022 and 2027.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Price Range

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Email: media@technavio.com
Website: www.technavio.com

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SOURCE Technavio