Champagne Tops €6 Billion In Global Value For The First TimeJanuary 19, 2023
Global Champagne shipments surpassed the €6 billion ($6.5b) threshold last year for the first time ever, according to the Comité Champagne. Global volume of the celebrated French sparkler was up 1.6% to 326 million bottles, as exports rose 4.3% to 188 million bottles to offset a 1.7% decline in domestic sales to 138 million bottles.
Now representing a majority of the Champagne market, the share of exports has risen from 45% 10 years ago to more than 57% today, the Comité noted, adding that “the sunny 2022 harvest, which was remarkable both for its quantity and quality, will play a role in rebuilding stocks to meet market demand going forward.”
According to Impact Databank, Veuve Clicquot and Moët & Chandon, both part of the Moët Hennessy portfolio, are the top two Champagne brands in the U.S. market respectively, and together account for a full two-thirds of the Champagne category. Globally, Moët Hennessy’s Champagne shipments have surpassed 5.5 million cases in recent years, placing the luxury giant about 4 million cases ahead of the next-largest players Vranken Pommery Monopole and Lanson-BCC.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.