Champagne Shipments Fall 2% in 2025 as French Demand Slumps and U.S. Overstocks Weigh on Sales

Champagne shipments in 2025 totaled 266 million bottles, marking a 2% decrease from the 271 million bottles shipped in 2024. Despite this apparent decline, industry leaders argue that the figures do not fully reflect the underlying stability of global demand. David Chatillon, co-president of the Comité Champagne and chairman of the Union des Maisons de Champagne (UMC), addressed these results last week, highlighting factors that distorted the year-on-year comparison.

According to Chatillon, the headline drop in shipments was largely influenced by unusual trading patterns at the end of 2024. In anticipation of possible tariff increases under the new U.S. administration, many Champagne producers accelerated shipments to the United States in late 2024. This move resulted in an estimated 2 million additional bottles being sent to the U.S. market ahead of schedule, temporarily inflating 2024’s shipment numbers and causing overstocking among American distributors. As a result, re-orders from the U.S. slowed in early 2025, making the year’s shipment figures appear weaker than actual consumption trends.

Chatillon stated that if these exceptional U.S. shipments are factored out, underlying demand for Champagne in 2025 was essentially stable compared to 2024. He suggested that “2025’s shipments are probably exactly the same as 2024 if you take into account the shipments to the US that were sent in December 2024.” This adjustment reveals that the apparent decline is less about falling demand and more about timing and inventory management.

Export markets outside France showed resilience during 2025. The United Kingdom, Japan, and Canada all recorded growth in Champagne imports over the year, according to data shared by Chatillon. However, overall global performance was weighed down by a significant drop in domestic French demand. France remains Champagne’s largest single market and accounted for most of the global decline. Shipments within France fell by just over 4 million bottles, from 118.2 million in 2024 to 114 million in 2025. This decrease represented more than 80% of the total global drop of 5 million bottles.

In contrast, exports declined only slightly, slipping by 1.2 million bottles from 153.2 million in 2024 to 152 million in 2025. The relative strength of export markets helped offset some of the weakness seen at home.

When measured by value rather than volume, Champagne’s performance was somewhat better. The provisional value for global shipments in 2025 stands at €5.7 billion, down just 1.7% from €5.8 billion in 2024. This smaller decline suggests that pricing remained firm even as volumes slipped.

Chatillon linked Champagne’s recent performance to broader consumer sentiment rather than economic fundamentals or spending power. He described Champagne as “a good barometer of the global mood,” noting that ongoing geopolitical tensions and inflation have dampened celebratory consumption worldwide over the past two years. In France specifically, political instability has further discouraged consumers from purchasing luxury goods like Champagne. Chatillon pointed out that French household savings are at their highest level in three decades, indicating caution rather than lack of means.

Looking ahead to 2026, Chatillon does not expect a dramatic rebound in shipments but hopes for modest growth as market conditions stabilize. He cautioned that forecasting remains difficult due to unpredictable trends in consumer sentiment and ongoing pricing pressures. The strong euro is making Champagne more expensive for buyers using other major currencies such as the pound sterling, U.S. dollar, yen, and Australian dollar, which could limit export growth even if production costs remain steady within France.

Historical data shows that while Champagne’s value peaked at €6.3 billion in 2022 and €6.2 billion in 2023, it has since declined but remains above pre-pandemic levels seen between 2015 and 2019.

Industry observers will be watching closely to see whether consumer confidence improves enough to support renewed growth for Champagne producers in both domestic and international markets over the coming year.