Champagne sales are anticipated to set a new record this year, despite inflation that may have caused customers to avoid the pricey sparkling wine, makers said prior to the start of year-end celebrations around the globe.
Last year, champagne sales reached an all-time high of $6.05 billion, as the easing of pandemic-related restrictions fuelled a rise in exports.
David Chatillon, chairman of the Union of Champagne Houses, told Reuters in Reims, eastern France, home to the world’s most renowned Champagne producers, “We will likely break this record again, and 2022 will be the new turnover record for champagne.”
Volume-wise, sales will increase this year compared to the 320 million bottles sold in 2021, but would still fall short of the 2007 peak of 339 million bottles, he said.
Last year, champagne sales reached a record high of 5.7 billion euros ($6.05 billion).
“We have consumers that are probably less affected by inflation than others, and with the end of the economic crisis we have found that people want to have fun, they want good things, and opening a bottle of champagne is a celebration in and of itself,” Chatillon said.
It was also anticipated that export sales would reach historic highs.
“Our top three markets, the United States, the United Kingdom, and Japan, are performing exceptionally well, as are the remaining European destinations,” Chatillon said.
This year, Champagne prices have risen as winemakers have passed on rising costs, particularly for bottles and freight. As harvesting was done manually, he claimed, the energy constraint had less of an effect than on more energy-intensive sectors.
This year, Champagne prices have risen as winemakers have passed on rising costs, particularly for bottles and freight.
This year’s Champagne harvest, which Chatillon described as “miraculous,” was 45% above the five-year average due to favorable weather conditions and doubled from 2021, when frost and mildew disease devastated vines.
The war in Ukraine and sanctions against Russia had no effect on Champagne sales, according to Chatillon, since bottles were redistributed to satisfy high demand in other countries.
»Champagne producers achieve record $6.5 billion in sales despite inflation«