French wine and spirits exports in 2024 have shown signs of struggle, with a reported 4% decline in value, reaching €15.6 billion, according to figures released by the Fédération des Exportateurs de Vins & Spiritueux de France (FEVS) last Tuesday. However, despite this drop, the industry remains cautiously optimistic, acknowledging both the challenges and the silver linings.
Gabriel Picard, president of FEVS, attributed the slowdown to “inflation and geopolitical uncertainties,” which have dampened the premiumisation trends that had previously boosted the sector’s performance. These factors, coupled with ongoing trade tensions—especially with China—have led to significant concerns among French wine and spirits producers and global businesses alike.
However, Picard urged the industry to consider the bigger picture, asking whether the decline should overshadow the fact that 2024’s export value still ranks as the fourth highest in history. While acknowledging the ongoing dip in both volume and value, he questioned whether the sector should “be satisfied” with such a performance given the challenges faced.
It’s important to note that, while French wine and spirits exports have fallen in recent years, they are still coming down from record highs. In 2022, exports peaked at €17.2 billion, setting a new benchmark for the industry. Despite the current downturn, the sector’s overall performance remains robust when compared to historical figures.
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