Annual Wine Market Overview - International - 2014
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This global annual market overview will provide you with an in-depth review of the key issues in the global wine market through 2013 as well as our forecast for what will happen in 2014 and beyond.
“The global wine market is going through significant changes. Previously, production and consumption was dominated by Western Europe. However, wine production and consumption in this region has declined dramatically, with wine usage and its cultural importance declining markedly among the younger generation of 18-34 year-olds.
However, just as Western Europe contracts, the rest of the world is increasingly embracing wine. The US has now become comfortably the biggest wine market in the world, with its more experimental Millennial generation buying wine in greater numbers than their parents.
Eastern Europe is also opening up to wine, especially Russia, which is a very important market for bulk exports. A wine culture is also gaining traction in Asia, where better quality wine is now being grown, while consumers are becoming more interested in learning about this “sophisticated” and “healthier” Western alcohol habit.”
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