French wine and spirits exports sank to their lowest volume in at least 25 years last year, battered by rising trade barriers, weakening demand in key markets and the impact of a strong euro,
according to industry group FEVS.
Export volumes fell 3% year-on-year to 168 million cases — the weakest level since the turn of the century — while export value dropped 8% to €14.3 billion ($17.03 billion), a five-year low, a FEVS spokesperson said on Tuesday.
Once France’s second-largest export sector, wine and spirits have slipped to third place behind aerospace and cosmetics as global trade tensions intensified, particularly with the United States and China.
FEVS Chair Gabriel Picard warned that relief is unlikely in the short term. While new EU trade agreements with the Mercosur bloc in South America and India could eventually support exports, he said 2026 may still prove challenging without improved market access.
U.S. sales slump as tariffs bite
Exports to the United States were among the hardest hit. Higher tariffs and the threat of further hikes — potentially up to 200% — sharply cooled demand, especially in the second half of the year. Sales to the U.S. plunged 21% in 2025 to €3.0 billion, with volumes slipping below 30 million cases.
“There is a real decline in the United States,” Picard said ahead of the Wine Paris exhibition. “The volume correction may not have been sufficient, and we could see another adjustment in 2026.”
China crackdown hits cognac hard
Sales to China fell 20% to €767 million in 2025 as anti-dumping duties severely curtailed shipments of cognac, armagnac and other wine-based spirits.
Cognac, the industry’s flagship export, emerged as one of the biggest casualties of escalating geopolitical tensions. Export volumes plunged 15%, while value collapsed 24%.
“Geopolitical tensions between France and China marked the end of cognac in China,” Picard said. “Stopping something doesn’t take long, but rebuilding takes a long time.”
Europe shows resilience, but champagne feels currency pressure
Within Europe, exports remained broadly stable at €4.1 billion, supported by resilient demand in markets such as the UK, where volumes rose 3% despite fiscal pressures.
Champagne exports — accounting for 35% of total wine export value — edged up slightly in volume but fell 4.5% in value. Industry leaders blamed the decline on the euro’s sharp rise against the dollar early last year.
“We hope to see a rebound in sales in 2026,” said David Chatillon, co-chair of the Comité Champagne. “But it’s unlikely to be significant because the overall environment hasn’t changed much.” Photo by Fred Romero from Paris, France, Wikimedia commons.