icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

But first, champagne! Bubbly sales surge globally, edging close to pre-pandemic highs

But first, champagne! Bubbly sales surge globally, edging close to pre-pandemic highs
Champagne sales are on the rise, surging back to numbers last seen before the Covid-19 pandemic and the ensuing lockdowns sent sales plummeting, as people were banned from throwing parties.

Champagne sales are on course to reach a four-year high this year, thanks to exports to the United States and Australia, French champagne wine growers lobby SGV said earlier this month. Sales between January and August soared 11.9%, even compared to the same period in pre-pandemic 2019.

Also on rt.com Put a cork in it: France's Moët backs down in bubbling row with Russia & agrees to brand its posh plonk as plain ‘sparkling wine’

At the time, French champagne houses shipped 297.6 million bottles globally. In 2020, however, the region exported only 244 million bottles, according to data from the Comité Champagne trade association. Turnover for the sector, which is France’s second-biggest export industry after aeronautics, showed a loss in profits of $980 million.

The category was down almost 18% last year after declines of 2% in 2019,” an analyst from UK-based International Wines and Spirits Record (IWSR) told CNBC, citing the group’s Drinks Market Analysis figures. Now, based on the current increase, the firm expects champagne sales to grow about 4% this year, and continue the trend through 2025.

The forecast of the French General Syndicate of Champagne Winegrowers is even more optimistic. The group expects that the current rally in global champagne markets may propel sales to 305 million bottles worldwide in 2021, a figure last seen in 2017.

Also on rt.com French wine production falls to ‘historically low’ level after vineyards devastated by severe frost

Some experts believe that people are simply ready to party again after spending over a year locked down.

If I have to guess, I think that consumers are ready to celebrate even just the little things in life,” Natalie Pavlatos, a spokeswoman for US-based Champagne Bureau, told CNBC. While the holiday season is still ahead, Pavlatos notes that her bureau is already receiving reports of sales that are higher than last year’s levels.

So we may actually be seeing not only a return to normal but even better performance than we had in 2019,” Pavlatos said.

For more stories on economy & finance visit RT's business section

Podcasts