The global champagne market growth is majorly driven by increase in demand for luxury alcoholic beverages of fine quality. The major share of the consumers of this market belongs to the top 10% of the earning population. Hence, they are more inclined towards fine quality as well as exclusivity of the products, and are willing to pay a premium price for the same, which further drives the growth of the champagne market. As the living standards are increasing globally, the aspiration of consumers to consume luxury goods and services is also expected to grow. As an ingredient, champagne has been gaining popularity in cuisines and variety of cocktails in the food service industry, which is expected to propel the growth of the champagne market during the forecast period. Non-vintage champagnes are the most preferred choice among the consumers, due to their superior quality and reasonable pricing. The non-vintage champagnes are widely consumed for their brand familiarity, taste and aromas of a particular brand or label.
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The global champagne market is segmented into price point, distribution channel, and region. By price point, the market is divided into economy, mid-range, and luxury. By distribution channel, it is segregated into supermarket/hypermarket, specialty stores, on trade, and others. Region wise, the champagne market analysis is carried out across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
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On the basis of price point, the economy segment was dominated the global market in 2018, which accounted for more than half of the share, and is expected to retain its dominance throughout the champagne market forecast period. Rise in income of middle–class and upper middle-class population in developing countries has increased the consumption of economically priced champagne on special occasions for celebrations, thereby boosting the market growth.
Key Benefits of the Report:
- The report provides a quantitative analysis of the current champagne market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists to determine the prevailing champagne market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the champagne industry.
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