The global Champagne Market size is expected to reach USD 7.2 billion by 2025, according to a new report by Grand View Research, Inc., registering a 4.0% CAGR during the forecast period. Increasing traction among consumers on account of changing lifestyles, rising brand awareness, online sales, and its evolving use in various cocktails and cuisines is expected to have a positive impact on market growth.
The market has been receiving increasing interest from celebrities and public figures, who have been teaming up with leading brands to launch new products. For instance, in January, 2019 Aubrey Drake Graham, the Grammy award-winning Canadian singer, launched his champagne range under the French label Mod Sélection, a company that has been producing the finest champagnes since 1892. The launch has been made in collaboration with Brent Hocking, founder of DeLeón Tequila and Virginia Black Whiskey. The products are available in two variants, Mod Réserve and Mod Rosé, which are both available in 750 mL metallic brown bottles. These bottles are decorated with handcrafted flowers, unique to each bottle. The Mod Réserve is flavored with lively aromatics and vibrant white fruit. It offers freshness along with minerality and is available for USD 300; the Mod Rosé is priced at USD 400.
Similarly, Usain Bolt, the Olympics champion sprinter launched his signature champagne Mumm Olympe Rosé in January 2019. The product is available in a slender necked bottle for aromatic development of the beverage. Furthermore, this bottle contains a mix of vanilla and caramel, which lends the drink a lively and fresh taste.
Champagne manufacturers have been striving to innovate the containing bottles to stand out and create their own signature. In March 2019, a French winemaker launched a bottle for champagne packaging that changes color when cooled enough, to indicate that it is ready to be served. The original color of the bottle is white, but when chilled, appears to be covered in musical notes and butterflies. The Infinite Eight Champagne is produced in northeastern France and was first launched in Japan, followed by France. Similarly, Mumm Grand Cordon redesigned its packaging by replacing its front label with an original red ribbon that has been laser cut into the glass, resembling the signature Mumm sash. The design is complimented by the G.H.Mumm logo and eagle emblem inscribed directly onto the glass.
Some of the key players operating in the global market are Centre Vinicole – Champagne Nicolas Feuillatte, LANSON-BCC, Laurent Perrier, LVMH Moët Hennessy – Louis Vuitton SE, and Pernod Ricard. Other prominent players include Piper-Heidsieck, Pommery, Taittinger, Thiénot Bordeaux-Champagnes, and Veuve Clicquot Ponsardin.
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Further key findings from the report suggest:
- On the basis of product, the Blanc De Blancs accounted for the dominant share of close to 26.0% in 2018. It is widely preferred by consumers owing to its good natural acidity ad distinct minerality
- By distribution channel, off trade held the leading share of more than 85.0% in 2018, owing to the high market visibility of liquor shops as a key buying source among consumers
- Europe accounted for the largest revenue share of more than 65.0% in 2018, with demand predominantly stemming from consumers in U.K., France, Belgium, and Germany
- Asia Pacific is expected to be the fastest growing champagne market, registering a CAGR of 6.6% from 2019 to 2025. This is attributed to increasing consumption of champagne at social gatherings and corporate events in countries such as Japan, South Korea, and Australia.