Greece: Champagne Market 2024

Champagne Market Size in Greece

The Greek champagne market soared to $X in 2021, picking up by 119% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a resilient expansion. Champagne consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Champagne Exports

Exports from Greece

In 2021, overseas shipments of champagne decreased by -61.1% to X kg, falling for the sixth year in a row after four years of growth. Overall, exports saw a precipitous curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 175% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, champagne exports plummeted to $X in 2021. Over the period under review, exports faced a dramatic decrease. The growth pace was the most rapid in 2014 with an increase of 4.3% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X kg), North Macedonia (X kg) and Cyprus (X kg) were the main destinations of champagne exports from Greece, together comprising 85% of total exports.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +79.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for champagne exported from Greece were North Macedonia ($X), the United States ($X) and Cyprus ($X), together comprising 76% of total exports.

North Macedonia, with a CAGR of +79.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average champagne export price stood at $X per ton in 2021, surging by 7.2% against the previous year. In general, the export price showed a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 88% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahamas (+57.0%), while the prices for the other major destinations experienced more modest paces of growth.

Champagne Imports

Imports into Greece

In 2021, the amount of champagne imported into Greece surged to X tons, with an increase of 134% against 2020 figures. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.7% against 2019 indices. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, champagne imports surged to $X in 2021. In general, imports posted a buoyant increase. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest champagne supplier to Greece, with a 85% share of total imports. Moreover, champagne imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold. Italy (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.9% per year) and Italy (+57.4% per year).

In value terms, France ($X) constituted the largest supplier of champagne to Greece, comprising 94% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 2.7% share of total imports. It was followed by Germany, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.7% per year) and Germany (+14.9% per year).

Import Prices by Country

The average champagne import price stood at $X per ton in 2021, with a decrease of -10.5% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 36% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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