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Champagne expert foresees another sparkling new year
The Champagne industry looks set to continue its upward curve in 2012 after steady growth in 2010 and 2011.
Steve Charters, director of the Chair of Champagne Management at Reims Management School, predicts stable but encouraging growth for the New Year.
Declining exports in 2008 and 2009 signalled an end to the Champagne market’s boom years, but since rebounding in 2010, it has is regained strength and has allowed the key players a more optimistic forecast, even if Charters remains cautious in his outlook.
“Since the global financial crisis of 2008–9, the champagne business has shown signs of making its way back to the success of pre-crisis years,” said Charters. “The growth has been steady but encouraging. However, the renewed uncertainty around the Eurozone and the general international economic outlook continues to be a cause for concern, given that Champagne sales are directly linked to the health of the international economy.”
According to data published in October 2011 by the Comité Interprofessional du vin de Champagne (CIVC), shipments of Champagne within France showed 3% growth.
Foreign exports showed the most significant increases, however, with European Union sales rising by 4.2% and the rest of the world by 13.4%. The UK, the US, Germany and Belgium remain the highest importing countries, while Russia, Brazil and China recorded the best results among the emerging market economies.
According to the Union of Champagne Houses, forecasts for the whole of 2011 are expected to amount to 327–329 million bottles, up 2.5–3.1% compared to the 319 million bottles shipped in 2010.
Some experts are optimistic, saying that this result is not far from the record year in 2007 when 338.7 million bottles were sold.
Source: Reims Management School
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