Champagne set to sparkle in 2011-12

The global Champagne sector is set for a veritable turnaround in 2011-12 as Asian market continues to grow, according to Stephen Charters, Reims Management School’s chair of Champagne management.

“Champagne is a drink related to confidence," Charters said. "It’s something you drink when you have something to celebrate. With the economy in recovery, there’s now more to celebrate.”
 
2009 was a traumatic year for the industry, with worldwide sales figures tumbling 42%, but 2010 looks to have been a much better year for sales.

In the first seven months, exports of all French wines and spirits were up, with Champagne showing the strongest growth with an increase of 36%.

Champagne exports outside of the European Union have picked up significantly, most notably exports to the United States and to Asia.

While exports to the European Union have also increased compared to last year, market recovery was less substantial there, particularly in the United Kingdom and in Germany, two of Europe’s most important markets.

It is predicted that between 310 and 315 million bottles of Champagne will be sold in 2010, an increase of 5.8% to 7.5% over 2009, when 293m bottles were shipped.

“It seems likely that there will be a rebound in 2011-2012 and new markets, especially those in Asia, will continue to grow for Champagne,” said Charters, ”So the producers will continue to have the ability to price their product at an appropriate level to cover their costs and to meet all the margins that they require.”

Alan Lodge, 22.12.2010