A shortage of high-end champagne could threaten your New Year’s Eve celebration if you’ve not yet done your shopping.
Supply chain issues, the ongoing Covid pandemic, and climate events are to blame for the lack of bubbly this holiday.
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CNN reports that brands like Moet & Chandon and Veuve Clicquot could be noticeably absent from liquor stores as the year comes to a close.
But not all champagne brands may be affected, so those who don’t mind drinking a less expensive bottle can still ring in the New Year with a traditional toast.
How has the champagne industry fared throughout the pandemic?
According to the Comité Interprofessionnel du Vin de Champagne (CIVC), champagne sales decreased 18% in 2020 when compared to 2019 sales.
CIVC is the group that represents the Champagne region.
In 2019, CIVC reports having sold an estimated 300 million bottles.
In 2020, that number fell to 245 million.
While figures for 2021 are not yet available, CNBC reports that the industry could see a rebound.
The surge in demand could see a return to pre-pandemic levels for the champagne industry, with some guessing that the 2021 numbers could rival the most recent high of 307million bottles in 2017.
But that same surge could also contribute to a prolonged champagne shortage if suppliers can’t keep up and if the other challenges persist.
How long could the shortage last?
As champagne demand levels have fluctuated throughout the pandemic, it’s unclear how long the delays could continue.
And if you are able to find those high-end brands, they could cost even more than usual.
That’s because alcohol prices have risen about 1% since this time last year, according to the Bureau of Labor Statistics.
If the supply chain issues persist, the shortage could continue into the foreseeable future, and prices could continue to rise, too.
Other products, like cream cheese and even Cheetos, have faced similar shortages this year.
We explain how you can get $20 from the cream cheese shortage.
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