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(HomeGarden247.com, November 09, 2018 ) Champagne is a product produced from grapes that are grown in the Champagne region of France. The grapes that are used are very specific such as Pinot Noir, Pinot Meunier, and Chardonnay. These grapes are fermented to make wine that contains about 9% of alcohol by volume. Champagne is also known as the sparkling wine and is strictly regulated by Comité Champagne of France. Various wine producing country produces sparkling wine similar to champagne, but any other wine which might resemble champagne cannot be sold or labeled as champagne. All champagnes are sparkling wine, but all sparkling wines are not champagne. Grapes that are grown according to the appellation rules are only allowed to make champagne.
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Europe Champagne market is anticipated to grow at XX% CAGR from 2018 to 2023 and it is estimated that the Europe market was valued at USD XX billion in 2018 and is expected to reach USD XX billion by 2023.
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The rising economic growth in developing economies has been a key factor driving the growth of the Europe champagne market in recent years. The growing acceptance for consumption of alcohol in the cultural beliefs of consumers Is further aiding the market growth. Bars and lounge are those businesses which are specialized in selling a variety of alcoholic drinks that patrons can consume onsite in a social environment. More often than not, bars cater to an affluent clientele, offering expensive “premium” champagne. Many lounges also offer a wide variety of inexpensive flavored champagne, which have become increasingly popular among those who for social gathering. The above-mentioned factors are resulting in increased penetration of the bars and lounge culture which in turn is boosting the growth of the champagne market. Availability of a wide variety of flavored champagne is resulting in increasing consumer base and this is expected to fuel market growth over the forecast period. Introduction of flavors such as candy, fruit, and nutty etc. has been leading to an increasing number of individuals consuming champagne.
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Based on geography, the Champagne market is segmented into Germany, France, Spain, Italy and UK. Europe accounted for the largest share of the market in terms of revenue. In the Europe market countries like France and U.K. are generating the major revenue.
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The market is dominated by companies like Moët Hennessy USA, LANSON-BCC, Vranken - Pommery Monopole, Champagne Laurent-Perrier S.A.S., Pernod Ricard, Rémy Cointreau, Centre Vinicole Champagne Nicolas Feuillatte, Martel, Louis Roederer, and Taittinger.
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