
Champagne shipments worldwide took a significant hit in 2024, falling 9.2% to 271.4 million bottles.
Economic uncertainties, inflation, and global political tensions have all contributed to a downturn in celebratory occasions, causing many consumers to rethink their spending on luxury items like Champagne.
In France, the heart of Champagne consumption, the market dropped 7.2%, while exports fared worse, declining 10.8%. The downturn was also reflected in the performance of LVMH, the luxury giant behind several Champagne brands, which reported a 15% dip in sales for the first half of the year.
The industry has also been impacted by weather challenges, including frost and excessive humidity, which damaged grape harvests and further complicated production.
As consumer confidence remains low, the Champagne sector faces a tough road ahead.
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