One path of wine history could follow the developments and science of grape growing and wine production; another might separately trace the spread of wine commerce through civilization, but there would be many crossovers and detours between them. However the time line is followed, clearly wine and history have greatly influenced one another. Fossil vines, million-years-old, are the earliest scientific evidence of grapes.
In this latest report, he says that successful wineries 10 years from now will be those that adapted to a different consumer with different values — a customer who uses the internet in new and interactive ways, is frugal and has less discretionary income than their generational predecessors.
This consumer rotation, along with several other indicators that point to reduced direct-to-consumer success, has specific implications for small wineries.
Action is required now to stay ahead of these changes. Download Report Forecasts for Consumers are leaving the lower price segments in favor of better-quality offerings, but after more than 20 years of straight-line growth trends, total volume growth is leveling off.
Retiring baby boomers and frugal millennials are driving a rotation of consumer preferences. Premiumization will continue, but softening is likely on the luxury end for wineries without preexisting strong brands. The premium wine segment will grow in the range of 4 to 8 percent, down from the estimate of 10 to 14 percent in For the industry as a whole, sales will rise by 2 to 4 percent, while volumes will increase slightly.
Acquisitions will cool somewhat from the torrid pace of the past three years as many of the major buyers digest their recent purchases. We will still see foreign purchases of US wineries and significant transactions for vineyard properties.
When totals are calculated, California will have crushed about 3. But sustaining routine increases may be difficult for wineries given the low-growth, low-inflation environment. Price increases will be hard to pass through inso overall pricing will be flat. He also offers perspectives on how the industry may sustain growth by embracing new demographic segments.
Videocast replay The report findings were discussed in a January webinar featuring Rob McMillan. Premiumization is still the dominant trend, so volume drops in lower-priced generics are part of the explanation for flattening volume; but in a more recent development, even premium wine growth is slowing.
They are evolving to lower-price premium segments in place of the higher-price segments they previously dominated. Their presence has been below the radar, but their consumption continues to increase.
They are perfectly positioned to surpass baby boomers as the dominant cohort in fine wine consumption around Love them or loathe them, millennials are becoming an increasingly important and influential demographic in the global wine market, which is now worth €29 billion.
Wine Market Council and Nielsen Explore Industry Trends The wine industry association teams with the data and analytics powerhouse to look at the current state of wine in , where we've been.
Nowadays, China is the seventh largest export market of wine and is expected to reach 4,,kl in Moreover, the wine consumption in China expected to triple from gallons per capita to gallons per capita in Consuming million cases of wine in , the United States was the only market among the Top 10 wine-drinking countries to show growth compared with the previous year, according to the London-based source for wine and spirits analysis.
With China’s middle class rising fast, the demand for imported wines is set to see rapid growth within the next few years. But what are the wines Chinese drinkers are looking to buy, and which. PROSPECTS Sparkling wine continues to see double-digit growth.
The high popularity of lower alcohol and sparkling drinks continued to lead to the strong double-digit increase of sparkling wine in total volume and value terms over the review period.