New figures have shed light on global Champagne figures throughout 2015. Exploring these statistics, Ideal Wine Company uncovers the world’s biggest Champagne markets.
Champagne is a signature sparkling wine produced in the French region of Champagne. This ultimate luxury tipple has traditionally proven popular with British consumers, with the UK often ranking as one of the world’s biggest Champagne markets. Yet when the UK’s economy crashed in 2007 – 2008, many British consumers swapped Champagne for Italian Prosecco, which is more cost effective.
When the UK’s economy started to recover, British consumers began to return to Champagne. Figures from the Office for National Statistics indicate that British consumer spending on Champagne increased by 20% from 2013 to 2014. Meanwhile the UK was Champagne’s largest export market last year, with shipments increasing by 4.5%. The British Champagne sector expanded at three times the rate of its global equivalent in 2015, indicating that the UK really loves Champagne!
An article on Glass of Bubbly, an industry publication, sheds more light on the UK Champagne export sector. In terms of volume of sales, the UK was still Champagne’s largest market last year. Around 34.2m bottles of this signature French drink were sold in the UK in 2015, compared with 20.5m for the US, the next biggest market in terms of volume of sales.
But in terms of value of sales, the US eclipsed the UK in 2015. Last year, the value of Champagne sales in the US increased by 38%, hitting €515m. In the UK, the value of Champagne sales came in at €512m last year. Glass of Bubbly explains: “One of the reasons [for this change] is the weak euro against the strong dollar, meaning Americans are more likely to go for a premium bottle.”
The publication added that US consumers are now more eager to spend over US$100 on a bottle of Champagne. Top-end brands are rising in sales, especially major players such as Veuve Clicquot and Moët & Chandon (which comprised 60% of US market share in 2015). Dom Perignon, Perrier-Jouët and Nicolas Feuillatte also proved popular with American consumers last year.
If you look at how much Champagne people drink, the UK is still the world’s biggest Champagne market. But when people have more money, they want to buy more luxurious goods, so it looks as though the US is fast becoming the world’s most prominent Champagne sector by value.