New York, According to a new market research report published by Global Insight Services “Champagne Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Champagne is a sparkling wine that is produced in the Champagne region of France. It is made from a blend of Pinot Noir, Chardonnay, and Pinot Meunier grapes, and is typically dry with high acidity. The wine is aged in bottles for a minimum of 15 months, during which time it undergoes a secondary fermentation that gives it its signature bubbles. Champagne is often served as a celebratory drink, and is also used in a number of cocktails.
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Key Trends
The key trends in champagne technology are:
1. Increased use of stainless steel tanks: In order to maintain the quality of the wine, many producers are now using stainless steel tanks instead of the more traditional oak barrels. This allows for a more consistent product and better control over the ageing process.
2. Use of alternative yeast strains: In order to add more complexity to the wine, some producers are experimenting with alternative yeast strains. This can add new flavours and aromas to the wine, and help to create a more unique product.
3. Increased use of disgorgement: In order to remove the dead yeast cells and other sediment from the wine, many producers are now using a process called disgorgement. This helps to improve the clarity and quality of the wine.
Key Drivers
There are several key drivers of the Champagne market. Firstly, Champagne is a luxurious product which is associated with celebrations and special occasions. This means that demand is often higher during key festive periods such as Christmas and New Year.
Secondly, Champagne is a relatively niche product, with production limited to the Champagne region of France. This scarcity can drive up prices and demand.
Thirdly, Champagne is an ageing product, with many producers releasing their products several years after harvest. This can create a sense of anticipation and excitement around new releases, driving up demand.
Market Segments
The champagne market bifurcated on the basis of price point, distribution channel, and region. On the basis of price point, it is segmented into economy, mid-range, and luxury. By distribution channel, it is analyzed across supermarket, specialty stores, on-trade, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Player
The champagne market report includes players such as Laurent Perrier, Champagne Nicolas , Louis Vuitton SE, Taittinger, Pernod Ricard, LANSON-BCC, LVMH Group, Palmer & Co, Veuve Clicquot Ponsardin, and Piper-Heidsieck
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