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Champagne sales estimated to have fallen by $1.2 billion in 2020 due to pandemic

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Posted at 2:00 PM, Jan 29, 2021
and last updated 2021-01-29 15:19:07-05

Champagne sales took a hit worldwide due in large part to the coronavirus pandemic.

According to the Comite Interprofessionnel du Vin de Champagne (CIVC), an organization of persons assigned under the direction of the French government designed to regulate Champagne production, champagne sales estimated to have fallen by $1.2 billion in 2020.

That’s an 18% drop in volume.

“Faced with an unprecedented crisis, the organization of our sector has proved its resilience. Together, the Champagne winegrowers and houses made a wise decision about yields last year. The adjustment that the Comité Champagne agreed to [on January 25] will give everyone a certain room for maneuvering,” said Maxime Toubart, co-president of the Comité Champagne and president of the Syndicat Général des Vignerons in a press release.

According to Forbes, the industry was already dealing with new sales rules in France that limited special promotions in 2019 and the impact of climate change when the pandemic struck, which resulted in the closure of bars and restaurants and the cancelation of big events and parties.

“Despite the crisis, Champagne remains dear to the hearts of consumers who feel the need to keep something exceptional in their everyday lives and to choose quality products when so many other pleasures are unavailable due to the health crisis,” added Jean-Marie Barillère, co-president of the Comité Champagne and president of the Union des Maisons de Champagne in a statement. “It is the strength and power of our appellation to be the champion of prestige and, above all, quality among our consumers.”

However, the expectation doesn’t seem to be quite as bad as expected, with previous estimates showing sales projected to decline by 30%, which was not the case.

After weathering the 2009 global economic crisis, the producers said they are taking the necessary steps by adjusting grape harvest volumes so “the Champagne industry can approach 2021 with confidence.”