French wine exports by value fell for a second year in 2024, as foreign buyers preferred less expensive sparkling wines to Champagne and favoured more affordable bottles from the Loire Valley and Provence over Bordeaux wines.
The value of wine exports fell 3% to €10.9bn last year, French wine and spirits export agency FEVS said. That remains the third-highest on record, as greater export demand for regional fizz and still wine without a geographical denomination partly made up for slumping sales for Champagne and Bordeaux.
The volume of export shipments increased 0.7% to 124.1 million cases, relatively stable after plunging in 2023 to the lowest level in at least 17 years. Restocking by US importers boosted demand in the biggest export market for French wine, after an inverse effect in the previous year.
French wine exports overall faced a double impact from inflation and economic uncertainty, and a shift away from the most expensive wines to more affordable options, FEVS president Gabriel Picard told Decanter after a presentation of the data at Wine Paris on Tuesday.
‘There is undoubtedly a shift in consumption patterns, and maybe the end of a phenomenon of ultra-premiumisation,’ Picard said. ‘Products with higher added value, at least the core of the range, have held up rather well or even progressed, for example in the case of sparkling wines, whereas the very expensive Champagnes have tended to decline.’
French wine exports to the US rose around 10% in volume, while the value increased 8.4% to €2.32bn. The number was distorted by the effect of restocking, and stocking up at the end of the year in anticipation of possible US import tariffs, Picard said in a presentation.
Shipments to the UK, the second-largest export market for French winemakers, increased 5.4%, while the value of exports fell 3.9% to €1.4bn.
The value of French wine exports to China slumped 17%, and wine trade with Singapore and Hong Kong also declined. Chinese demand was hurt by weak consumer confidence, and a ‘significant comeback’ by Australia at the expense of European wines, not only from French but also from other countries such as Italy, according to Picard.
Champagne, which remains France’s biggest wine export by value, had a tough year, with shipments falling 9.7% to 12.4 million cases and export value slipping 8% to €3.86bn. By contrast, sparkling wines from other regions, such as Crémant de Loire and Crémant d’Alsace, saw export volume rising 8% to 10.3 million cases, and the value jumping 9.5% to €426m.
The FEVS defines a case as 12 bottles of wine, equivalent to 9 litres.
‘Italy has been very dynamic with its Prosecco, up to us to do the same with our Champagne and sparking wines,’ Picard said.
Bordeaux exports fell 4.5% in volume to 16.6 million cases, while the value slipped 1.4% to €5.28bn. ‘For now, there’s a low point on Bordeaux,’ the FEVS president said.
Meanwhile, Burgundy shipments rose 8.4% to 7 million cases, up 9.1% in value to €2.05bn, which Picard described as more due to the technical effect of abundant harvests in 2022 and 2023.
The Rhône Valley and Languedoc-Roussillon recorded lower export volumes for a third year, while Beaujolais shipments abroad fell for a fifth year. The Loire Valley reported higher export volumes in 2024, while Provence also sold more wine abroad.
‘We see that the mid-range tends to be more resilient, that goes for the reds and the whites,’ Picard said. ‘The other trend that we see is there tends to be some sort of decline in consumption of reds, and good resilience or progress for the white and rosé wines.’
France’s combined exports of wine and spirits fell 4% to €15.6bn, with Cognac shipments falling 11% in value mainly due to the impact of a Chinese anti-dumping investigation started in 2024.
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Source : https://www.decanter.com/wine-news/french-wine-export-value-falls-as-buyers-seek-more-affordable-wine-550818/
