Champagne Market Finds New Ways to Keep up with Consumers Changing Tastes, says Market.us

Champagne is a white wine made by blending grapes like Pinot Meunier and Pinot Noir. It has a 9% alcohol content. Champagne is a sparkling wine created in Champagne, France. The appellation has specific rules regarding vineyard practices, grape-pressing methods, and secondary fermentation to produce carbonation.

According to research by Market.us,” The Global Champagne Market is expected to grow at a CAGR of roughly 5.6% over the next ten years and will reach USD 10.41 Bn in 2032, from USD 6.4 Bn in 2022″

The report highlights the key trends that will shape the Champagne Market in the upcoming years. It gives information on the size of this fast-growing market, along with which regions and segments are major game changers.

Anurag Sharma, a senior research analyst at Market.us, said,” The Champagne Market is evolving and is innovating at a rapid pace. From flavors to bottles, brands are focused on optimizing the process and making sure it is as per customer’s taste.”

Champagne is widely used as a celebratory drink for special occasions such as weddings, anniversaries, and corporate events. Champagne has many beneficial properties. It is low in calories and can reduce memory loss and dementia. Champagne is low in calories and sugar. However, it contains high levels of resveratrol which can be compared to wine. It is made from various grapes and flavors such as almond, citrus, and apple to enhance the taste. Along with that, it is aged for many years to enhance texture and complexity.

The growing desire for luxury goods among affluent people is the reason for a surge in the Champagne Market. According to research by investment bank Credit Suisse, 218,000 people are now classified as having an ultra-high net worth with assets of more than $50 million. This has resulted in a more advanced attitude towards luxury items like champagnes, clothes, footwear, etc.

Champagne has been a popular choice for celebrating social events, weddings, and corporate events over the past decades in many developed countries like the U.S., France, and the U.K. This trend is slowly reaching many Asian countries like South Korea, Japan, China, and Japan.

Along with the worldwide expansion, food tourism and culinary services are influencing the adoption of champagne in luxury resorts and hotels for gourmet cooking across the globe. Champagne has been used by chefs around the world in signature cocktails and dishes.

Manufacturers have constantly been inventing new flavors to appeal to changing palates, such as peach, strawberry, and blueberry. This strategy has effectively attracted even consumers who may find traditional champagne too bland.

The not-so-beautiful-looking Pinot Meunier grapes are now looking for a comeback. Usually, people skip Pinot and only refer to it as Meunier, which has now become its identity. Producers are now manufacturing 100% Meunier champagnes and making it their specialty.

Other than this, many market players use innovative strategies to produce champagne. These include combining traditional hybridization techniques with advanced tools.

To maintain a competitive edge in the market, the brands are investing in marketing campaigns. They also offer canned champagne in unique and exotic flavors via online retail channels. This, combined with the growing e-commerce market due to increasing internet penetration and growing dependence on tablets and smartphones, is creating a positive outlook on market growth.

Lately, as the Covid-19 restrictions begin to disappear, there is a suppressed demand for luxury, travel, and enjoyment. For instance., Philippe Schaus, the CEO of Moët Hennessy, mentioned that they are running out of stocks from some of their best Champagnes. Also, with Christmas and New Year’s coming up, the demand is set to rise even more. This has created pressure on the supply side. But the Champagne had an excellent harvest this year despite the severe drought in France.

Another trend in the champagne market is the main priority for brands. Rising environmental awareness has compelled champagne manufacturers to reformulate their sourcing patterns to ensure proper disposal of the bottle. Champagne is accomplishing amazing feats this year. It has successfully reduced the carbon footprint per bottle by almost 29%. Along with that, 100% of wastewater is recycled or treated. By 2025 the region aims to be herbicide free.