Wine Consumption Grows In US, Russia And China
The production and consumption figures recently released by the UK’s International Wine and Spirit Research body make for interesting reading as a picture of the 2010 wine market. But the IWSR also predicts a very different wine industry emerging over the next half decade.
Cabernet Sauvignon Wine was the drink of choice in the French halls of Wine pressing power as it was revealed that France was once again the king of wine production in 2010. 2009 figures had shocked the French industry when it was revealed that Italian wine production was somehow more prolific. In 2010, France produced 419 million cases of wine of all varities, and regardless of destination. Italy take second place and Spain remain third, reflecting the tradition status quo. These three nations are likely to be similarly in demand until well into the next decade. However, in the long term they are likely to be challenged by pushes from Argentina, Chile, China and South Africa
The total 2010 output of wine, 36 billion bottles. You won’t necessarily find the big producers among the biggest consumers of wine. The world’s largest wine importer is still the United Kingdom. It is technically a wine producing region, but the industry has yet to catch on. The UK consumer isn’t typically a connoisseurship, and the majority of sales are of cheap white rather than premium reds like Tempranillo wine. France remains the world wine capital in that it consumes the largest amount of ‘higher priced wines’ (those valued at 6.15 GBP and above). The UK is however, second.
But the true upheaval in the wine world is happening outside of Europe. Russians are one such emerging consumer market: with 5.5 million more cases being consumed by 2014. However, the largest growth is likely to happen in the Chinese and US markets. China will likely be demanding 20 million more cases, the US 27 million. There is also increasing demand for more expensive White and Red Wine brands and growths for the increasingly sophisticated Asian consumer. Though the US will overtake the UK within the next five years as a consumer, the long term picture is that they will in turn be overtaken by China.
Tags: business, consumer, trade, wine
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