Champagne sales plummet: ‘people are no longer in the mood’

The popping of champagne corks is becoming increasingly rare, as the mood for the ultimate celebratory wine seems to have disappeared worldwide. A new report from the Comité Champagne shows that total champagne sales fell by almost 10% last year to 271 million bottles. It is the second consecutive year that the figures have declined.

No time for celebration

The reason? Inflation, global conflicts, economic uncertainty and a general gloom that is seriously dampening the festive mood. Do you recognize the feeling that when you look outside, you just want to go back to bed as quickly as possible instead of heading to a bubbly party? Maxime Toubart, co-president of the Comité Champagne, makes no bones about it: “This is not a time for celebration. People have enough worries on their minds.” Especially in major markets such as the US and France, consumers are tightening their purse strings.

In France itself, the home of champagne, sales fell by 7% to 118 million bottles. The Comité points to political and economic instability, such as the snap elections that resulted in a divided parliament. This comes on top of broader trends in France, where people are drinking not only less champagne but also less wine.

A difficult year for LVMH

French luxury group LVMH, owner of champagne houses such as Dom Pérignon, Krug and Veuve Clicquot, had already warned of a difficult year. Champagne sales fell by 15% in the first half of 2024. LVMH’s finance director Jean-Jacques Guiony had noticed it too: “Champagne is strongly associated with celebration and happiness. Perhaps the current geopolitical and macroeconomic situation is not the right setting for celebrating.”

Happy with alcohol-free?

At the same time, some producers are trying to adapt to new trends. Last year, for example, LVMH entered the alcohol-free bubbles market with French Bloom, a non-alcoholic sparkling wine. Other players, such as Telmont, are also looking for ways to win consumers back through sustainable initiatives.

Also read:

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• Going on a wine trip? This Italian region is much more interesting than Champagne
• Worth watching: Widow Clicquot, the impressive story behind Veuve Clicquot’s champagne

Source: CNN