For the first time since 2010, the price of PDO vines will fall across the board in 2024, reflecting the structural crisis facing French winegrowing. The average price of PDO vines excluding Champagne has fallen by 3.3% to €79,500/ha, marking a turning point in an upward cycle that has lasted for more than a decade.
We take a closer look at the figures released by the SAFER (Analysis of rural land markets - May 2025), which reveal that French winegrowing is facing up to the challenges of climate and trade.
In 2024, the French wine market will experience its first widespread fall in prices since 2010. This downward trend affects all categories of vines:
| Type de vignes | Prix 2023 (€/ha) | Prix 2024 (€/ha) | Évolution (%) |
|---|---|---|---|
| Vignes AOP (avec Champagne) | 178 400 | 176 400 | -1,1% |
| Vignes AOP (hors Champagne) | 82 200 | 79 500 | -3,3% |
| Vignes hors AOP | 15 000 | 13 800 | -8,0% |
| Vignes Eaux-de-vie AOP | 56 600 | 51 100 | -9,7% |
This price correction can be explained by a combination of factors: repeated vagaries of the weather, a trade crisis affecting red wines in particular, and a fall in consumption both in France and abroad.
Despite this fall in prices, the vineyard market remains active in terms of transactions. The SAFER recorded 8,650 sales in 2024, representing a limited decline of 1.4% compared with 2023.
| Indicateur | 2023 | 2024 | Évolution (%) |
|---|---|---|---|
| Nombre de transactions | 8 770 | 8 650 | -1,4% |
| Surface échangée (ha) | 16 000 | 16 000 | 0,0% |
| Valeur totale (millions €) | 1 170 | 1 111 | -5,0% |
The stability of the area traded (16,000 hectares) reflects a degree of resilience in the market, even though the overall value of transactions fell by 5.0% due to the fall in prices.
An analysis by wine-growing region reveals a wide range of trends, with some regions doing well while others are feeling the full brunt of the crisis:
| Bassin viticole | Prix moyen 2024 (€/ha) | Évolution 2024/2023 (%) |
|---|---|---|
| Champagne | 1 121 800 | +1,7% |
| Bourgogne-Beaujolais-Savoie-Jura | 238 500 | +8,0% |
| Vallée du Rhône-Provence | 85 700 | 0,0% |
| Alsace-Est | 117 000 | -0,7% |
| Bordeaux-Aquitaine | 101 100 | -18,4% |
| Charentes-Cognac | 51 100 | -9,8% |
| Val de Loire-Centre | 39 900 | +1,3% |
| Sud-Ouest | 13 400 | -9,1% |
| Languedoc-Roussillon | 12 600 | -5,1% |
| Corse | 22 200 | 0,0% |
Burgundy confirms its exceptional status, with spectacular growth of 8.0%. The Côte d'Or appellations continue to soar, with the white Premier Crus now exceeding 2.5 million euros per hectare (+13%). Burgundy Aligoté is even up 17% in Saône-et-Loire, driven by demand for crémants.
Champagne remains stable, with a measured rise of 1.7% to an average price of €1,121,800/ha. However, Champagne houses reduced their land acquisitions in the second half of the year, in the face of falling shipments.
Bordeaux-Aquitaine recorded the most spectacular fall, down 18.4%, bringing the average price down to €101,100/ha. Paradoxically, this major correction was accompanied by an increase in transactions (+7.2%), revealing a distressed market where owners are selling their vines at knock-down prices.
Charentes-Cognac also suffered a sharp correction (-9.8%) after the euphoria of previous years. The brandy sector, which had seen its prices multiply by 2.7 between 2004 and 2022, is now experiencing a real downturn.
The year 2024 was marked by particularly difficult weather conditions. Hail devastated the Chablis region, with some plots unable to be harvested at all. Incessant rain and mildew affected the Côte d'Or, particularly the Côte de Nuits.
In Languedoc-Roussillon, the drought continued to affect yields, prompting many winegrowers to grub up the least productive vines. Irrigation potential is becoming a decisive factor in land valuation.
The SAFER notes that the upward cycle in prestigious appellations has "come to a halt". After an increase of 69% between 2006 and 2022 for AOP vines excluding Champagne, the market for prestigious appellations is showing signs of running out of steam.
In Bordeaux, the most famous appellations have not escaped the correction: Pauillac is down by 17%, Saint-Estèphe by 20% and Margaux by 7%. Only a handful of Burgundy appellations are continuing to rise, buoyed by the scarcity of supply and sustained international demand.
At the same time as prices have been falling, we have seen a rise in the number of sales through partnerships. Farming companies account for only 13% of the number of sales, but capture 55% of the value of vines transferred.
This phenomenon is a response to a number of entrepreneurial objectives: separation of land and farm assets, recourse to outside capital, preparation for family or extra-family transfers.
Faced with these challenges, French wineries are adapting in different ways:
With inflation expected to reach 2.0% in 2024, the fall in vineyard prices represents a significant erosion in asset value. This contrasts with the period 2010-2022, when vineyards significantly outperformed inflation.
For AOP vines excluding Champagne, the loss in real value will reach 5.3% in 2024, marking a major reversal of trend for this investment, traditionally regarded as a safe haven.
The wine market in 2024 reveals a French wine industry in a state of flux. The widespread fall in prices, the first in over a decade, marks the end of a cycle and raises questions about the future of the sector.
The prestige vineyards (Burgundy, Champagne) remain attractive thanks to their international reputation and the scarcity of their land. Conversely, volume vineyards are facing major structural challenges: climate change, changing consumer tastes and international competition.
This growing differentiation between vineyards could become even more pronounced in the years to come, creating a two-speed market for wine-growing land: on the one hand, exceptional terroirs that retain their power of attraction, and on the other, vineyards undergoing forced conversion to other economic models.
For a detailed analysis of your wine region or appellation, we invite you to consult our specialised articles by vineyard, available on our blog in the Vine prices section.
