“No time for celebration”: Champagne sales are reportedly on the decline, new report finds

It seems that consumers, both nationally and around the world, don’t feel particularly celebratory when opening bottles of Champagne, CNN reported.

A new report by Comité Champagne – an organization made up of major players in Champagne production, including growers, cooperatives and merchants – found that the total number of Champagne shipments from France fell by almost 10% last year, to 271 million bottles.

The reason for the sharp decline can be attributed to High food costsAlong with a pessimistic overview of the current state of the world. Maxime Toubart, co-chair of the Champagne Commission, told CNN that now is “not a time to celebrate, given inflation and conflicts around the world, economic uncertainty and a wait-and-see political attitude in some of Champagne’s largest markets.” United States and France.

inside France, Champagne Sales fell 7% to 118 million bottles because “the local market continues to suffer from the prevailing bleak political and economic context,” according to a statement obtained by the outlet.

In 2024, many luxury brands and major Champagne producers reported a sharp decline in sales. French luxury goods brand LVMH reported a 15% drop in sales in the first half of the year. “Champagne is absolutely associated with celebration, happiness, etc.,” LVMH CFO Jean-Jacques Guionni said on an earnings call, per CNN. “The current global situation, whether geopolitical or macroeconomic, may not prompt people to cheer up and open bottles of champagne.”

French spirits group Remy Cointreau said in a recent financial report that it also expects a decline in sales due to consumers becoming increasingly wary of food prices fueled by inflation.