Global Champagne sales rebounded in 2010, but demand failed to surpass the levels of 2008, according to trade body Comité Interprofessionnel des Vins de Champagne (CIVC).
Champagne sales rose by 9% in volume to 319.5m bottles, the CIVC said today (9 February). The figure confirms a rebound in demand for the category, following a sharp drop in demand at the peak of the global financial crisis.
Global sales by value increased by 8% to EUR4bn.
The biggest Champagne houses look to have led the recovery. Champagne group Lanson-BCC said today that the Champagne houses, rather than individual producers, saw collective export volumes increase by 20% in 2010.
However, industry volumes remain below those of 2008, when volumes reached 322.5m bottles. The 2008 figure, too, represented a 5% drop on 2007 volumes.
In contrast to the excess supply of Champagne in many markets during the financial crisis, the industry could face shortages in 2011. Both Vranken-Pommery Monopole and Moet Hennessy have warned in the last couple of weeks that supplies will be tight if the sales momentum continues.
Their comments will likely put pressure on the CIVC to relax its cap on grape harvests, put in place in 2009 in order to bring supply into balance with demand.