Champagne: the market stabilises following a slowdown. Champagne houses and distributors are confident of a recovery

In fact, looking at his own business, Sagna makes no secret of the challenges posed by a year of ups and downs. “The first quarter, up 8 per cent,” he explains, “saw that lead eroded in the second quarter, followed by a positive third quarter with a good July and an August that exceeded forecasts. By mid-September, excluding a house added this year, growth for Roederer alone stood at 5 per cent. And whilst the off-trade is up by 4 per cent, the on-trade stands out with an 8 per cent increase. “Champagne drinkers have cut back on their consumption, but rather than staying at home, they’re enjoying it out and about, in restaurants, spending time with friends. They’re more discerning consumers, increasingly knowledgeable, and this is positive because it means more and more high-quality products will be coming onto the market.”

There has also been slight growth for Ca’ di Rajo Group, although the market has been heavily concentrated in the final months of the year, whilst ‘stability’ is the key word for the Meregalli Group, a ‘giant’ with a turnover of around 100 million euros. In the first eight months of 2026, “turnover is in line with that of 2025,” confirms the managing director Corrado Mapelli – “and Champagne’s share of sales is identical, with a very stable average price, thanks in part to initiatives that have encouraged by-the-glass sales and stock turnover”. This stability applies to the maisons, Bollinger leading the way, “because consumer confidence in historic and well-established brands helps in a cautious market”, but also to the récoltants. Mapelli emphasises that this is not the time for new discoveries or innovations, “I certainly wouldn’t suggest to any of the maisons we work with that they launch new projects at this stage”.

Along the same lines, Andrea Girardi of Proposta Vini (turnover of 28 million in 2025) confirms that the brands in the portfolio are holding up well. “Restaurants’ wine lists are getting shorter,” he says, “and the number of Champagne options is also being reduced. So the slightly better-known labels are holding their own, but at the same time, people are opting for products that offer good value for money.”

The distributor Sarzi Amadè has reported very positive figures for the first eight months. “Champagne accounts for 5 per cent of our turnover (around 12.5 million in 2025, ed.) – explains Alessandro Sarzi Amadè – and we have seen a rise in sales in line with the general trend, so around 12 per cent in terms of turnover and number of bottles”. However, a breakdown by product line shows that growth has been concentrated in the lower-to-mid-range of the catalogue: “The trend towards spending less has probably driven demand towards slightly less expensive Champagnes,” observes Sarzi Amadè, given that Italian consumers have historically favoured top-of-the-range cuvées and vintage Champagnes.

For Compagnia del Vino, the benchmark is Pol Roger. “If we manage to maintain this trend,” says Roberta Cenci, “we expect 10 per cent growth by value and 8 per cent by volume. Growth in value exceeding that in volume is what distinguishes quality growth. Far from the superbrands – mainly due to size constraints – we are now in the segment immediately below, where 5–7 brands compete, and Pol Roger has firmly established itself in this segment.”
The trajectory described by Cenci is common to many distributors. “By 2026, we’re seeing a slight recovery,” she explains, “even though we’re not regaining the volumes we’ve lost, we’re starting again from a solid foundation.”

Similarly, Elemento Indigeno, a project by Compagnia dei Caraibi, paints a picture of 2026 characterised by a quest for ‘resilience’. ‘The major brands and the low-cost segment, where the bulk of sales is concentrated – the group explains – are offsetting the decline with ongoing promotions that affect the perceived price, whilst the hospitality and catering sectors are still showing tentative growth and interest in smaller brands, which represent an attractive segment for consumers but a more marginal one for the category’.

Not everyone interprets the channel in the same way. Alberto Massucco has recorded, over the last two years as a result of Covid, steady growth in sales to private customers and a decline in the hospitality sector (i.e. restaurants, ed.), linked to costs and the ‘fear instilled by the Highway Code’. Consumption is thus shifting towards the home, although Massucco notes that ‘the price lists of Champagne houses and vignerons have not fallen, but restaurants have moderated their mark-ups. It was about time they did so, not least because it allows Champagne lovers to drink less, but better. And those who are passionate about it, including young people, choose quality’.

The most striking example of a counter-trend is that of Velier. Up until mid-September, Billecart-Salmon recorded a +42 per cent increase in Italia, following a negative performance in 2025. The reasons? On the one hand, a strong commercial drive – as reported by the company’s Giacomo Bombana – “on the other, the house has adapted its style, reducing the dosage to create a drier wine more in line with contemporary tastes”. Velier’s ‘flagship’ house is taking part in Champagne Experience for the first time this year, but the Genoa-based company’s story also extends to its ‘natural’ Triple A. It is precisely on this front that the company has chosen to expand, pairing Domaine Augustin with three small vignerons: Insu, Champagne Ecume and Vouette & Sorbée. “This involves meticulous work on very small volumes, often managed on an allocation basis,” explains Bombana, “so the few bottles produced are easily snapped up by wine bars that appreciate this style.”

Indeed, the quintessential French champagnes continue to attract attention. In recent weeks, there has been the announcement of the acquisition of Hoxxo Champagne by the Swiss group Gabriel & Spirits (turnover of 44 million) and the integration of Maison Odyssée into the distribution network of the Marilisa Allegrini Group, thereby re-establishing a link with France.
“Entering the Champagne region, starting from Avize and the Côte des Blancs, represents an important step for us: not merely an expansion of our range, but the beginning of a new journey of discovery. It is precisely this curiosity, together with our constant pursuit of excellence, that allows us to continue to evolve whilst also highlighting the stories we choose to bring to Italia,” explains Marilisa Allegrini.