Champagne producers are breathing a cautious sigh of relief as export markets show modest signs of recovery in the first half of 2025, according to provisional shipment data released by the Comité Champagne.
Despite a sluggish start to the year, total global shipments of Champagne reached 105.4 million bottles between January and June—down just 1.25% from the 106.6 million bottles shipped during the same period in 2024.
Domestic Demand in France Still Falling
The primary source of decline continues to be the domestic market in France, where shipments dropped by 5.2% to 41 million bottles. French consumption of Champagne has been waning for several years amid changing consumer habits, economic uncertainty, and increasing competition from other sparkling wine categories.
Overseas Exports Offer Glimmer of Hope
In contrast, international markets are offering a much-needed boost. Exports rose by 1.6% to 64.5 million bottles in the first half of the year. The real momentum came from non-European markets, particularly the United States, United Kingdom, and Japan, which together account for the largest volume of Champagne shipped outside of France.
- Exports to non-European countries increased by 3.8% to 46 million bottles.
- Shipments within Europe fell by 3.4% to 18.5 million bottles.
These gains are especially welcome given recent turbulence at leading Champagne houses like Moët Hennessy, which has faced significant layoffs and profit challenges in recent months. However, early signs from the U.S. market indicate a turnaround:
- Veuve Clicquot saw volume growth of 6.9% and a 5.7% increase in value, rebounding from a 5% volume drop in 2024.
- Moët & Chandon posted even stronger gains, with volume up by 9.1% and value increasing by 7.6%, reversing a 7% decline last year.
Export Markets Rebound, But Uncertainty Remains
The top fifteen export destinations showed consistent growth in both volume and value across the first six months of 2025. In June alone, these countries recorded a 10.9% rise in volume and an 11.3% increase in value compared to June 2024. The UK market, in particular, posted a strong 8.9% growth in volume, although value slipped by 1.2%, hinting at possible discounting or premium fatigue.
What’s Next? All Eyes on the CIVC
This cautious recovery comes at a pivotal moment, as the Comité Champagne (CIVC) prepares to meet on July 23 to determine the maximum allowable yield for the upcoming harvest. The decision will be informed by:
- Shipment trends
- Record stock levels—now exceeding five years' worth of supply
- High reserves in cellars across Reims and Épernay
This oversupply remains a key challenge. Champagne houses are cautious about increasing stock levels further, while growers who sell grapes by weight typically support higher yields.
In 2024, with sales down 9.3% year-on-year and total shipments just over 271 million bottles, the CIVC reduced the yield to 10,000 kilograms per hectare. For 2025, some are proposing a cut as low as 8,000 kilograms per hectare, which would equate to about 230 million bottles—a conservative approach to match supply with current demand.
Conclusion: A Delicate Balance Ahead
The Champagne industry is navigating a complex post-boom environment. While export markets—especially the U.S., UK, and Japan—are showing signs of stabilization, the domestic market continues to drag on overall performance. Strategic decisions around harvest yield and stock management will play a crucial role in preserving Champagne’s economic and symbolic value in the months ahead.
Source: Champagne