Champagne producers expect to celebrate record sales in 2022
Champagne sales are expected reach a new record by the end of the year, despite inflation increasing costs.
After sales hit an all-time high of €5.7 billion in 2021, more people than ever look to celebrate with a glass of bubbly this holiday season. David Chatillon, chairman of the Union of Champagne Houses (UMC) told Reuters that 2022 was predicted to be another record-breaking year for the premium tipple. “We will very likely beat this record again and 2022 will be the new Champagne record in terms of turnover,” he said.
320 million bottles were sold last year, after exports soared following the relaxation of pandemic-related restrictions. The volume sold this year is estimated to exceed that number, but will not beat the impressive 2007 record of 339 million bottles sold.
Export sales are also expected to pop off at record highs. According to Chatillon, the timing of the increase suggests people are embracing life after the pandemic.
He said: “We have consumers who are perhaps less impacted by inflation than others and we have noticed since the end of the pandemic crisis that people want to have fun, they want good products and opening a bottle of Champagne is in itself a celebration.”
“Our first three markets, the United States, Britain and Japan, are doing very well and so are the other European destinations,” he added.
Champagne prices have gone up this year due to a rise in production costs, with winemakers paying out more for their bottles and transportation. According to Liv-ex, their Champagne 50 indices were up by nearly 22% for the first 11 months of 2022. However, manual harvesting means the industry has been spared the impact of increasing energy costs.
Chatillon also deemed this year’s wine harvest in Champagne to be “miraculous”, after coming in 45% above the five-year average. Official data demonstrated it had doubled from 2021, when vineyards were devastated by frost and mildew fungus.