There is nothing better than a glass of bubbly champagne to celebrate the end of year. These will be the top 10 markets for champagne globally in 2021 ranked by forecasted total volume consumption.
TOP CHAMPAGNE MARKETS BY TOTAL VOLUME IN 2021(MILLION LITRES) |
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| 1 | France | 102,2 |
| 2 | United Kingdom | 22,6 |
| 3 | USA | 20,5 |
| 4 | Australia | 16,0 |
| 5 | Japan | 10,7 |
| 6 | Germany | 08,4 |
| 7 | Belgium | 07,5 |
| 8 | Italy | 05,0 |
| 9 | Switzerland | 04,8 |
| 10 | Spain | 04,0 |
Source: Euromonitor International
Note: Data refers to forecasts values for 2021; Figure includes both on-trade and off-trade volume sales
France accounts for half of global champagne consumption
The dichotomy between the performances of stagnant mature and booming emerging nations has been a recurring theme across the alcoholic drinks industry. While some categories have managed to achieve a degree of geographic diversification beyond their Western bastions, champagne remains far too narrowly focused on Western
Europe, which continues to account for the vast majority (75%) of global sales. Western European penetration rates are concentrated on a very small number of markets – in particular France (49% of global volume sales) and the UK (10% of global volume sales) –, which raises the downside risks significantly in the case of a downturn in those markets.
Source: Euromonitor International
Note: Figure includes both on-trade and off-trade volume sales
Experiential luxury continues to defy the odds
Consumers have reassessed their priorities and increasingly asked themselves what they truly value in luxury goods. Preferences are shifting from ownership and acquiring new things to acquiring more meaningful experiences and from high quantity to high quality and overall value. In this scenario, fine wines/champagne and spirits is clearly outpacing all other luxury categories in terms of growth in 2017. Global sales in fine champagne will increase by an estimated rate of 7% in real USD value terms this year. This momentum further highlights a shift in consumer spending from personal luxury goods (such as luxury timepieces, jewellery and leather goods) to luxury experiences, wellness and lifestyle.