In 2024, French wine and spirits exports reached EUR 15.6 billion, marking a slight decline compared to 2023 (-4%).
Despite this drop in value, there was a minimal decrease in volume (-0.1%), signaling a stabilization in the industry after a difficult 2023. However, the trade balance of France's wine and spirits sector continues to shrink for the second consecutive year, with economic pressures and geopolitical tensions weighing heavily on the market.
Stabilization at the Cost of Value Decline
Gabriel Picard, President of the French Wine and Spirits Exporters Federation (FEVS), notes that the decrease in value reflects broader global challenges. “After a year in 2023 marked by a sharp drop in volumes, we now see stabilization at the cost of a reduction in value,” he observes. Inflation and geopolitical uncertainties are dampening the premiumization trend that had previously supported the sector’s growth.
French Wine and Spirits Exports in 2024: Volume and Value Breakdown
The 2024 data for French wine and spirits exports reveals a mixed performance across categories:
| Category | Volume (x1000 cases) | Change (%) | Value (€ million) | Change (%) |
|---|---|---|---|---|
| Total Wines | 124,113 | +0.7% | 10,949 | -3.0% |
| of which Champagne | 12,377 | -9.7% | 3,858 | -8.0% |
| Still PDO Wines | 49,540 | -0.6% | 5,283 | -1.4% |
| Still PGI Wines | 32,547 | +0.2% | 872 | +0.2% |
| French Varietal Wines (without GI) | 9,158 | +5.2% | 253 | +2.7% |
| Other French Wines (without GI) | 9,320 | +17.1% | 204 | +18.3% |
| Total Vermouths & ABV | 3,278 | -7.3% | 128 | +2.4% |
| Total Spirits | 46,550 | -1.8% | 4,482 | -6.5% |
| of which Cognac | 13,811 | -0.6% | 2,988 | -10.9% |
| Armagnac | 146 | +16.6% | 18 | -15.4% |
| Other Wine Spirits | 8,027 | -5.7% | 167 | -0.1% |
| Vodka | 9,532 | +4.1% | 424 | +10.1% |
| Liqueurs | 4,592 | -0.7% | 377 | -2.3% |
| Calvados | 245 | -11.1% | 16 | -14.6% |
| Total Wines & Spirits | 173,941 | -0.1% | 15,558 | -4.0% |
The wine sector as a whole experienced a small increase in volume (+0.7%), but revenue decreased by 3.0%, mainly due to a sharp drop in Champagne sales (-8.0%) and a slight decrease in the value of still PDO wines (-1.4%). In contrast, French varietal wines without a geographical indication (GI) performed well, with volumes increasing by 5.2% and value growing by 2.7%.
The spirits sector faced more significant challenges, with a 6.5% decline in revenue, particularly driven by a 10.9% drop in Cognac exports, which remain a key pillar of the French spirits industry. However, vodka performed well, with both volume (+4.1%) and value (+10.1%) increasing.
Growth in the U.S. Market and Decline in China
Among the mixed results, the U.S. market stands out for its recovery. Exports to the United States grew by 5% to €3.8 billion, driven by a rebound in wine sales (+8.4%) while spirits remained relatively stable. Champagne exports saw a slight decline (-2.3%), while other sparkling wines experienced strong growth (+16.5%). This shift highlights the growing importance of price competitiveness in the sparkling wine sector.
Exports to the United Kingdom remained steady, with a slight decline of 0.7% to €1.7 billion. Wine value dropped by 3.9%, but spirits saw a significant rise of 21%, with volumes of wine up by 5.4% and spirits down by 2.5%.
However, the Chinese market faced substantial challenges in 2024, with exports falling by 20%, dipping below the €1 billion mark. This decline can be attributed to an unfavorable economic environment and an ongoing anti-dumping investigation into European brandies.
Asia Shows Mixed Results
Elsewhere in Asia, results were more varied. Japan saw a minor drop of 4%, while markets like Malaysia (+5%) and Thailand (+8%) showed positive growth. These contrasting outcomes demonstrate the nuanced state of the Asian market for French wine and spirits.
Wine Sector Stability Amid Pressure on Spirits
The wine sector remains relatively stable with a small decline in revenue (-3%) to €10.9 billion. The key contributor to this drop was Champagne sales, which fell by 8%. In contrast, still wines remained steady, with only a slight reduction in revenue (-0.5%).
The spirits sector, on the other hand, saw a significant downturn. Global revenue for French spirits fell by 6.5% to €4.5 billion, with volumes decreasing by 1.8%. This drop was particularly notable in the Chinese market, where tensions over trade practices have affected demand.
Looking Ahead: Challenges and Opportunities for 2025
As 2025 approaches, the outlook for French wine and spirits exports remains uncertain. Gabriel Picard poses a crucial question: "Should we be satisfied with a performance that remains the fourth highest in history, or be concerned about the continued decline in both volume and now value?"
He emphasizes the need for adaptability and pragmatic approaches to secure current markets and open new ones. The ongoing geopolitical instability, especially in markets like China and the U.S., presents challenges that the industry must address.
Picard also urges European and French policymakers to prioritize the support of the industry. "Our sector is a key pillar of national sovereignty, and we need our leaders to act swiftly to resolve issues like the ongoing dispute affecting Cognac and Armagnac," he stresses.
A Call for Unity and Action
Picard concludes with a call for greater unity and collaboration within the sector. "We must work together to overcome obstacles, with policymakers proactively engaging with the industry. At FEVS, we are also adapting by establishing the Maison des Vins et Spiritueux to ensure we remain strong and united in the face of these challenges."
As the French wine and spirits industry continues to navigate complex global forces, the need for resilience, innovation, and cooperation is clearer than ever.
Source: FEVS