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Article: French champagne dries up.(Facts & Figures)(Brief Article)
- Article from:
- Food Engineering & Ingredients
- Article date:
- September 1, 2004
CopyrightCOPYRIGHT 2004 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Research agency Mintel estimates that by 2007 the size of the French champagne market will have shrunk to just 120 million litres, worth some [euro]3.26 billion, which means a decline of around eight per cent between 2003 and 2007.
"The future for this mature market does not look healthy. Due to the current French economic situation, the French are unlikely to spend on discretionary indulgences," explains analyst Michelle Strutton.
"Therefore, many French suppliers have turned to the more attractive export markets. The UK is France's largest customer for champagne, and the British taste for the prestige fizz continues to grow."
Mintel ...