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China and the US drive boom in global premium wine consumption

Published:  13 March, 2019

Wine priced between $10 and $20 will be the biggest driver of value growth for still and sparkling wine over the next couple of years.

Newly released forecasts from the IWSR and Vinexpo track global trends over a five-year period, starting in 2017 and looking ahead to 2022.

Driven by the trend to “drink less but better”, value is outstripping volume growth across all regions, with ‘premium’ wines in the $10 and $20 range expected to help global consumption of still and sparkling hit $207 billion by 2022.

The US and China are leading the charge for these wines, which are expected to grow 15% overall over the five year period.

The US will continue to lead the pack as the world’s most valuable wine market, worth $34.8 billion in 2017.

France is the second most valuable market at $16.7 billion.

However, China – currently in third place at $16.5 billion – is due to hit more than $19.5 billion by 2022, which will put it ahead of its European rival.

The UK and Europe meanwhile are helping to lead global value growth for sparkling wines.

In Europe overall, fizz accounts for 65% of volume and 55% of value wine sales.

Although growth is expected to slow a little, the Vinexpo/IWSR report shows sales of fizz in the UK will add another 1.8 million cases between 2017 and 2022, driven mainly by Prosecco.

The UK sits behind the US ($4.5 billion) and France ($3.6 billion) as the world’s third biggest market for sparkling wine, in joint place with Germany ($2.7 billion each).

World volume of sparkling wines is expected to grow from 260.2 million cases worth $28.9 billion in 2017 to 281 million cases, worth $32.9 billion in 2022.