French Wine and Spirits Exports Fall 4% in 2024 Amid China Sales Slump

In 2024, French wine and spirits exports declined by 4% in value, largely due to a significant drop in sales to China. Despite this, overall volumes remained stable compared to the previous year. The total value of international sales of French wines, champagnes, cognacs, and other spirits reached 15.6 billion euros, marking a 4% decrease in value and a slight 0.1% drop in volume, according to the French Federation of Wine and Spirits Exporters (FEVS). This decline follows a similar trend from 2023, with volumes stabilizing at the cost of reduced value amid ongoing economic and geopolitical tensions. Gabriel Picard, president of the FEVS, highlighted that while the sector remains France's third-largest trade surplus after aerospace and cosmetics, it is gradually eroding.

Sales of French spirits to China, the third-largest market, plummeted by 20.2% in 2024, falling below one billion euros. This sharp decline is attributed to China's real estate crisis and rising unemployment, particularly among young people, which have severely impacted domestic consumption and worsened the economic outlook. In contrast, exports to the United States, the largest international market, increased by 5%.

Wine exports saw a 3% decrease in value, influenced by a tense environment and changing consumer behaviors, including a general decline in wine purchases. However, the situation varied across different wine regions. Bordeaux wines experienced an 8.4% drop in exports, while the Rhône Valley and Beaujolais wines fell by 5.2% and 3.7%, respectively. Conversely, Burgundy wines surged by 9.1%, and Loire Valley wines grew by 5%. Champagne, which accounts for 35% of wine exports, suffered an 8% decline in international sales last year.

The spirits sector also faced challenges, with exports decreasing by 6.5%. This was due to the downturn in the Chinese market, reduced household disposable income, and stock adjustments by importers. The overall decline in French wine and spirits exports reflects broader economic challenges and shifting global market dynamics.