Is Champagne in crisis?
Exports to several major markets, including the UK and Australia, dipped dramatically in 2024.
Imports of Champagne to the UK fell by almost three million bottles in 2024 – taking the market back to its size in 1997.
The total amount of Champagne sent to the UK in 2024 was 22.3 millon bottles, down 12.7% on the year before.
And in Australia, the number of bottles arriving fell to 7.29 million, a drop of 17.6%.
The only years when UK shipments to the UK have been lower than in 2024 were in 2000 – when the country was overstocked from an excessive amount of Champagne imported in advance of Millennium celebrations – and 2020, when the first wave of Covid-related lockdowns took their toll, trade media outlet the drinks business reported.
But the market performance of 2024 means that the UK retained its position as second-biggest export market for Champagne behind the US, while Australia ranks No.7.
The Comité Champagne has said that the political and economic climate that has led to a reduction in sales.
Shipments in 2024 - as opposed to consumption - were also negatively impacted by an excess of stock in the market at the start of last year, as sales over the festive period in 2023 were not as high as expected.
In 2024, Champagne shipped a global total - including the domestic market - of 271.4 million bottles, which was down 9.2% compared to the previous year.
While 80% of Champagne is sold in eight countries, new markets such as Canada, South Africa and South Korea are showing growth, the Comité Champagne says.
The top 10 markets are: 1. US, 2.UK, 3. Japan, 4. Germany, 5. Italy, 6. Belgium, 7. Australia, 8. Switzerland, 9. Spain, 10. UAE.
Image: Andrii Omelnytskyi, Scop.io
No comments:
Post a Comment