Britain faces a champagne shortage because vineyard owners in eastern France are refusing to sell tens of millions of bottles stocked in their cellars.

Their unwillingness to give up what they see as their retirement nest eggs has left the country’s most prestigious champagne houses struggling to keep pace with a rise in demand in the US and developing countries.

Champagne experts say that producers will soon be unable to supply emerging markets in Russia, China and India as well traditional customers in countries such as Britain.

Patrick Le Brun, head of the union of champagne vineyard owners, said that Britons would be the losers in that case. “If there isn’t enough to go around, the producers will prefer the places where there is growth,” he said.

Frédéric Cumenal, president of Moët & Chandon, said: “The industry has always succeeded in coping with demand. Today, it’s no longer the case. Yields are at a maximum and we will soon hit a wall.”

The champagne industry is a victim of commercial success, tight bureaucratic regulation and the deeply conservative mentality of those who grow its grapes.

Global sales have risen from 287 million bottles in 2002 to 321 million in 2006. They are likely to reach 330 million this year, with exports to Russia growing by 39 per cent, to China by 50 per cent and to India by 125 per cent. But only 32,600 hectares of vineyards are authorised to produce the black grapes for champagne.

Experts say that the maximum number of bottles to be wrung out of the land is 350 million – and many even doubt whether this can be attained. They say that the region’s grapes are already being pushed to the limit as owners await official approval to plant more vines in 2017.

The problem could be solved if grape growers sold the estimated 100 million bottles in their cellars. But they are reluctant to do so. The average grower in the Champagne region owns just 2.5 hectares of land.

These small, independent vineyard owners supply up to 90 per cent of the grapes. Their bounty has accumulated over the years as they put aside about 10 per cent of their harvest to sell when they retire. Mr Le Brun said that the custom was ancient and unlikely to be overturned without significant cash incentives. “Agricultural pensions are very poor in France and a lot of these people will lose more than 50 per cent of their revenue when they retire. So they keep back some of their champagne to sell.”

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