A little jolt for champagne. The famous sparkling wine has not escaped the pressure of inflation. After a record-breaking 2022, 2023 ended with a slight chill. Fewer corks were popped in France, but also in the four corners of the world.
The verdict of the Comité Interprofessionnel du Vin de Champagne (CIVC), which groups together the houses and winegrowers of this prestigious region, was announced on Monday, January 15: The number of bottles sold in 2023 fell just below the 300 million mark, to 299 million, a year-on-year decline of 8.2%. Champagne has lost a few bubbles...
However, when the CIVC met in the summer to negotiate and set the yields for the next harvest, backed up by sales forecasts, the ambition was still to ship between 310 million and 315 million bottles. Ultimately, the already-anticipated decline became more pronounced over the course of the year.
The downturn has affected sales within France as much as exports. The French, already quibbling about toasting with champagne, are increasingly reluctant to choose this sparkling wine. Prosecco, Cava and Crémant are making their presence felt at a time of consumer arbitrage. As a result, France now accounts for just 43% of Champagne wine volume. "We've never been so low on the French market, even during Covid. Household morale and inflation have taken their toll," said Maxime Toubart, president of the Syndicat Général des Vignerons de la Champagne.
On the export front, distributors overstocked after the Covid-19 period, in response to the rapid resumption of business, before limiting their purchases in recent months in order to sell off the merchandise. "We're not worried. We're back to the same levels of shipments as before the health crisis. But we are keeping a close eye on sales trends in each country," Toubart added.
The CIVC is delighted to have maintained market value. With an average valuation of 8% of cuvées, the designation's turnover should remain above €6 billion, very close to the all-time record set by the 2022 vintage. Grape prices, meanwhile, have risen from 4% to 6%, the harvest was bountiful and winemakers were able to increase their reserves. "We've never had so much wine in the cellars," said Toubart. Muselets just waiting to be unmuzzled...