Champagne sales in 2022 reached a record high of more than 6.5 billion USD, primarily due to the fading Covid pandemic, as per industry experts. As projected by the trade association, Comite Champagne, the industry’s double-digit sales growth from 5.9 billion USD in 2021 was partly a result of its shift upmarket and introduction of more expensive vintage champagnes.
In 2022 “it naturally accompanied consumers throughout the world as they rejoiced at the end of lockdowns and found the taste again for celebrating, going out, travelling,” said David Chatillon, co-president of the Comite Champagne who spoke to AFP.
At the height of the pandemic lockdowns in 2020, sales had fallen to 244 million bottles.
While domestic sales fell 1.7 per cent, exports increased by 4.3 per cent in volume to 187.5 million bottles.
Exports now make up 57 per cent of sales, compared to 45 per cent a decade earlier, as reported by AFP.
Due to the market’s annual volume of fewer than two million bottles, the suspension of shipments to Russia had little effect.
(With inputs from agencies)