Bubbly Times: Champagne Season Hits Record $5.7 Billion In Sales

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By CultureBanx Team

  • Champagne 2021 sales hit $5.7B 14% above the pre-pandemic high
  • The U.S. market has grown in each of the past 10 years, apart from the slump suffered in 2020 because of lockdown measures

Relaxation of pandemic-related lockdowns has fueled a surge in champagne exports to the U.S. Located exclusively in the Champagne region of northeast France, the industry confirmed 2021 sales hit $5.7 billion, 14% above its pre-pandemic high. So what makes the consumption of champagne an accurate assessment of consumer confidence?

Why This Matters: The U.S. is champagne’s top export market and soared up 31% compared with 2019, reaching a record 34 million bottles. When consumers are drained politically, economically and emotionally they tend to drink liquor. On the other hand, when people are in jubilation the drink of choice is more likely to be wine, beer and champagne and it shows in the strong sales.

Demand for champagne appears to be bouncing back quickly following a global sales decline of 18% in 2020. Specifically, the U.S. market has grown in each of the past 10 years, apart from the slump suffered in 2020 because of lockdown measures, according to UMC data. Not to mention the Millennial pink obsession has spawned rosé into a goldmine, with the table version making 48% of its sales in the warmer months, according to research company Nielsen.

Situational Awareness: After the Great Recession, the industry bounced back and saw seven consecutive years of growth in Champagne shipments to the U.S., according to the Champagne Bureau, USA. The fall in supply should not affect champagne’s availability, as producers will be able to use their stocks. Champagne is typically made from a combination of wines produced the previous year and earlier.

CBx Vibe:Cheers (Drink to That)” Rihanna

CONTRIBUTOR

CultureBanx Team

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