France still reigns supreme in wine portfolios
French wine is a ‘must-stock’, according to Sopexa’s 2018 Wine Trade Monitor.
The international research study, conducted by the Sopexa Group, which promotes various French wine regions around the world, looked at future trends around the globe. The study was conducted with 781 stakeholders, including importers, wholesalers and retailers from six of Sopexa’s major markets – United States, Canada, Japan, Belgium, China and Hong Kong.
The study showed that 64% of those surveyed said that France is the most successful country of origin in terms of image. Currently listed by 92% of respondents, France remains the most popular wine-producing country in wine portfolios, followed by Italy (76%) and Spain (71%). Leading challenger countries Chile, Australia and the United States are becoming increasingly present and are now listed by 45% to 56% of operators.
The report also revealed that Spanish wines have seen significant growth in Japan and equally in Canada and the USA. In Japan, 48% of professionals named Spain among their top sales performances in 2017. The outlook for Spain was also very positive, with 30% of professionals predicting it will feature among the top three performers over the next two years.
In Canada and the US, 48% of professionals predicted a similarly positive outlook for Spanish wines over the next two years.
The report also revealed that over 41% of all respondents cited Italian wines as one of the top performing countries in terms of sales progression over the next two years. Italian wines were revealed to score most favourably in Canada, where two-thirds of professionals placed them in the top three sales performers in 2017.
According to the survey, Italian wines are enjoying increased visibility in China, where 43% of respondents see them among the top three sales performers in 2017.
More than 35% of respondents (not including China and Hong Kong) said that organic and biodynamic wines was the category with the greatest growth potential over the next two years, ahead of varietal wines.
More than one in four US professionals surveyed, and more than one in two in Canada, expected to see further sales growth in rosé wines.
Regional wines such as Bordeaux and Chianti are expected to see the greatest progression in terms of sales. This category is seen to have by far the greatest potential in both China and Hong Kong, the report said.
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