Champagne exports record sharpest decline in forty years in 2023

In forty years, champagne wines have never experienced such a sharp drop in worldwide exports. However, producers managed to limit the damage by raising their prices.

 

The slowdown affecting the luxury goods sector has not spared champagne producers.

 

Worldwide, 299 million bottles were sold in 2023, down 8.2% on the previous year.

 

However, producers were able to count on higher prices, resulting from the brand premiumization strategy begun in 2018 and inflation linked to international geopolitical tensions.

 

This enabled the industry to exceed the 6 billion euros recorded in 2022.

 

Backlash against an exceptional 2022

 

Despite an 8.2% drop in foreign shipments, the Comité Champagne is adamant that, with 299 million bottles “shipped”, the sales volume of champagne wines in 2023 will be a much better vintage than in 2019. A pivotal period in the collective imagination, evoking a pre-covid era instinctively associated with the idea of abundance.

 

Yet the experts don’t share the Committee’s optimism. Firstly, because the industry has benefited from three exceptional years following the health crisis, recording record sales volume in 2022 at 326 million bottles sold.

 

Secondly, 2019 marks the end of a period of erosion in champagne sales, with 297 million bottles sold. This compares with a peak of 321 million bottles shipped in 2015.

 

In 2023, this means that we have witnessed the sharpest drop in the industry in forty years, with the exception of the Covid period.

 

The price of premiumization?

To continue reading this article, create a free account or log in.

Create your free account

I create my account

Don’t miss out on the latest luxury business news.

 

Read also > THE HOUSE OF DRAPPIER IS GOING TO TEST AN EIGHTH GRAPE VARIETY IN ITS CHAMPAGNE

 

Featured Photo: Pexels

Picture of Victor Gosselin
Victor Gosselin
Victor Gosselin is a journalist specializing in luxury, HR, tech, retail, and editorial consulting. A graduate of EIML Paris, he has been working in the luxury industry for 9 years. Fond of fashion, Asia, history, and long format, this ex-Welcome To The Jungle and Time To Disrupt likes to analyze the news from a sociological and cultural angle.
Luxus Magazine Automne/Hiver 2024

Luxus Magazine N°9

Pre-order available

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Special offer

Subscription from 1€ for the first month

Luxus Plus Newsletter