The North America market is expected to be valued at USD 2.3 billion in 2024 and is expected to reach USD 2.89 billion by 2029 growing with a CAGR of 4.43% in period 2024 to 2029.
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% alcohol by volume. Champagne is also known as 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 that might resemble champagne cannot be sold or labeled as champagne. All champagnes are sparkling wines, but all sparkling wines are not champagne. Grapes that are grown according to the appellation rules are only allowed to make champagne.
The rising economic growth in developing economies has been a key factor driving the growth of the North American champagne market in recent years. The growing acceptance for the consumption of alcohol in the cultural beliefs of consumers Is further aiding the market growth. Bars and lounges are those businesses that specialize 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 has become increasingly popular among those who for social gatherings. 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. The availability of a wide variety of flavored champagne is resulting in an increasing consumer base and this is expected to fuel market growth over the forecast period. The introduction of flavors such as candy, fruit, nutty etc. has been leading to an increasing number of individuals consuming champagne.
Black pinot noir and Pinot Meunier are the primarily used grapes for champagne making but a few white Chardonnay grapes are also used.
Supermarkets/hypermarkets are anticipated to hold a relatively high share in the champagne market. Online stores also have a significant contribution to the growth of the champagne market over the forecast period.
Nutty-flavored champagnes are the most common of the old-world champagnes. The most popular style of champagne today is the Brut. Brut Champagne is considered as dry champagne and has a dry taste, with very low sugar levels.
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, Taittinger are some of the notable companies in the North America Champagne market.
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