As a conclusion, we can divide the analysis in three different axes. The first being the one concerning regulations and reforms. The second making an overall description of the products and the last one illustrating the global tendencies of the markets.

First of all, the European in depth reform of 2006 greatly contributed to an increase in quality of the wine produced (in France at least). It has created a situation with less producers who own more vineyard surface and thus enjoy greater economies of scale than before.

French legislation is currently steered towards a position in favour of wine exports. It is equally important to note that subsidies are hard to give on national level because they are coordinated on European level since the European commission clearly expressed its will to eliminate wasteful public intervention in EU wine markets. Moreover, the intended reform of 2004 lead by the French Minister of Agriculture in order to simplify the French wine offer came to a deadlock due to clashes between “traditionalists” and “modernists” which brings us to the second point

As it was the main subject of the proposed 2004 reform, it is obvious that the supply of French wine is very complex (with its numerous appellations) but remains tied to its tradition and identity. It cannot be changed, at least not on the short or medium term. This is a huge brake for innovation as “modernists” would say. This leads to point out that, in general, French producers are product oriented whereas New World producers tend to be more customer oriented.

Last but not least, the two big trends taking place are:

• French exports in value are increasing while they are decreasing in volume. At the world level, these exports are currently the largest by far in value but are only third in volume, lagging behind Spain and Italy.

• In France, vineyard surface area has decreased, mainly because of the EU grubbing-up premium program and the harsh entry restrictions put in place. This creates limited space for France to grow vines while New World Countries generally do not encounter such issues and are able to increase their volume produced on the long term.

These three key points lead our analysis towards the main conclusion which is that France should be focused on the growth (or conservation) of its exports in value rather than in volume. On an international level if it means losing market share, then let it be so. In contrast, on a national level losing market share is unacceptable and France should promote every quality of French wine by raising awareness of its consumers. Of course, we assume that quality comes with higher prices but also with higher added value.

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