US Wine Market Report 2024
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The wine market faces challenges due to reduced alcohol consumption driven by wellness trends, economic pressures and competition from alternative beverages like hard seltzers and non-alcoholic options. While celebratory wines like champagne remain stable, consumption of casual options like table wine is declining. Domestic wines are gaining appeal against imported wines, yet surplus grape acreage and inventory will remain a challenge for the industry over the next year. Value is another where the wine category will face headwinds, considering consumers’ renewed attention to inflation and value, as well as the potential introduction of tariffs on imports in 2025.
Wine brands are tasked with maintaining relevance in this shifting consumer landscape. Fortunately, among those who are drinking more wine now compared to a year ago, 60% are doing so to relax. Wine brands have an opportunity to leverage social media and battle the longstanding challenge of an ageing demographic; for younger consumers, the everyday relevance of wine lies less in celebrations and gifting and more in the dominant cultural trends of self-care, relaxation and treating oneself.
To reengage an audience that’s increasingly choosing to cut back on drinking, brands are tasked with boosting wine’s cultural relevance in everyday occasions.
Varchasvi, Research Analyst
This Report includes retail sales for domestic and imported wine for home (off-premise) and on-premise consumption. The Report covers the following types of wine:
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