According to the Federation of French Wine and Spirits Exporters (FEVS), French wine and spirit exports hit a new record last year, with a rise of 11% mainly due to increased prices. The trend is expected to continue this year, as Chinese consumers return to restaurants and resume travel.
The overseas sales of wine and spirits reached 17.2 billion euros (USD 18.42 billion) in 2022, up 10.8% from the previous year, with the United States as France’s largest market for wine and spirits, accounting for over a fourth of total exports in value.
Cesar Geron FEVS chairman said” The United States confirmed its role as driving force behind French wine and spirit exports” and added ” Restaurants and hotels are full, people want to see each other so I expect to see rebound in the coming months in terms of Wine and spirits in China “
However, the volumes sold fell 3.8% mainly due to poor wine production in 2021, linked to frost damage and logistical problems. Champagne exports, on the other hand, set a record last year, with an 8.5% increase in volume and a 20% increase in value. Sales of Cognac, France’s most exported spirit, gained more than 9% in value but fell 4% in volume.
Exports to Britain, France’s second-largest market, rose nearly 7% in value last year to 1.7 billion euros ($1.8 billion), helped by inflation. Restrictions related to the COVID-19 pandemic in China weighed on wine and spirits exports to the region last year, but there is an expected rebound in 2023 after Beijing relaxed curbs.
The war between Russia and Ukraine cut exports to Russia by half, but the market was relatively small compared to total exports. The war had an indirect impact due to the rise in energy prices and grain to vodka.
