google.com, pub-1971575927446776, DIRECT, f08c47fec0942fa0 US leads global value growth in still & sparkling wines, reveals Vinexpo - Connoisseur Magazine
Connoisseur Insider Wine Trade News

US leads global value growth in still & sparkling wines, reveals Vinexpo

Written by Ritenis Aksel

US leads global value growth in still & sparkling wines, reveals Vinexpo

 

January 18th, 2018 – New worldwide data from Vinexpo for 2016 reveals the US – at nearly $34bn total value in still & sparkling wines – remains firm leader in global value.

The report forecasts that the US wine market will increase its global lead over the next five years. By 2021 US sales of still and sparkling wines are expected to reach just over $45bn in a global market expected to reach 2.66bn cases worth over $224bn.

What is more, the USA is expected to lead world wine volume growth in 2017 for the 23rd consecutive year when final outcomes are revealed later this year. The data, compiled for Vinexpo by IWSR, is considered among the most reliable of all market data for the wine and spirits sectors.

By contrast, the wine markets of Europe’s heavyweights – France, Germany and Italy – declined in value and volume in 2016, continuing a long-running trend.

Top 6 Import market leaders

Consumption is forecast to continue to grow to 2021, at a CAGR (Compound annual growth rate) of 1%. Both local and imported wines will grow. New Zealand will be the standout performer in terms of imports to the US, with French wines also performing strongly.

  1. Italy (25.5 million 9-litre cases imported in 2016. CAGR 2016-2021: -1%)
  2. Australia (15.7 million 9-litre cases imported in 2016. CAGR 2016-2021: -1.4%)
  3. French (10.4 million 9-litre cases imported in 2016. CAGR 2016-2021: +2.8%)
  4. Chile (6.8 million 9-litre cases imported in 2016. CAGR 2016-2021: +0.5 %)
  5. Argentina (6.1 million 9-litre cases imported in 2016. CAGR 2016-2021: +0.5 %)
  6. New Zealand (5.2 million 9-litre cases imported in 2016. CAGR 2016-2021: +9.9 %)

US is bubbling

Sparkling wine is forecast to grow by on average 2% year-on-year to 2021, driven predominantly by North America. In Europe, the world’s largest regional consumer of sparkling wines, the outlook is also generally positive. Even though the UK (the world’s largest sparkling wine importer) is expected to develop strongly, it is will nonetheless be supplanted by the US as the world’s most important export destination by 2021. Prosecco is expected to grow most in the US, and in so doing the US is forecast to become the category’s second largest export destination, behind the UK.


The IWSR

About the author

Ritenis Aksel

Leave a Comment