Champagne's premium status has been tested over the past 15 years.
In key global markets, including the UK, retail and on-trade sparkling wine lists have diversified, and consumers are increasingly price-sensitive amid the cost-of-living crisis.
The result is a complex market evolution for Champagne, mixing pain with opportunity.
Access to this article is restricted.
A valid subscription is required to access this content.
Author's summary: Champagne's future is uncertain.