Champagne Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2025
A recent report by Grand View Research has projected the global champagne market to witness healthy growth over the coming years, owing to changing lifestyles and traditions across the globe, the rise in number of pubs, bars, and restaurants, and innovations on the part of manufacturers. The global champagne market size is projected to reach USD 7.2 billion by 2025, advancing at a CAGR of 4.0% during the forecast period, as per a report by Grand View Research, Inc. Factors such as rapid shift in lifestyles, growing brand awareness, online sales, and evolving use of champagne in various cocktails and cuisines is expected to positively impact the market growth in the coming years. With an increasing number of bars and restaurants have been focusing on expanding their inventory of wines and spirits, the market is expected to further expand at a healthy pace. Furthermore, there has been an increased involvement of celebrities and public figures in this space, who have been teaming up with leading brands to launch new products, which has enhanced the market scenario in recent years. Some of the notable names in this space include Aubrey Drake Graham, the famed singer, who launched his champagne range under the French label Mod Sélection in January 2019, in collaboration with Brent Hocking, founder of DeLeón Tequila and Virginia Black Whiskey. There has been a rising spending by bars, hotels, lounges, and airline services to keep champagne with various flavor variants on their menus to cater to individual tastes, which has led to a steady market growth. Champagne has become a major celebratory drink on various occasions such as weddings, anniversaries, baby showers, and house-warming parties, which has caused a continued increase in the product demand in major economies such as the U.S., Europe, Australia, and Southeast Asian economies such as India and China, which have slowly embraced these trends. Additionally, the rapid development of airports around the globe have provided growth avenues to manufacturers to sell their offerings at bars and lounges, effectively adding another stream for healthy revenue. A growing infusion of different