UK wine market sees steady growth
The light wine market has grown faster than any other major category of alcoholic drinks over the last 10 years, according to a consumer survey.
The Key Note survey, Wine Market Report Plus has estimated that the UK consumer spent a record amount on wine in 2009, which accounted for 20% of all household spending on drinks and 28% of the alcohol market.
It said, the UK market for wine has experienced steady growth between 2005 to 2009, with a peak of 5.6% growth in 2007 and 1.3% growth in 2009 despite the recession.
In 2009, the UK wine market is estimated to be worth £11.65bn, having grown in value by 13.4% over the last five years.
Prospects for future growth in value remain good, with a double-digit increase in the market by value between 2010 and 2014.
Key Note predicts, that value growth will exceed volume growth as consumers trade up to a better average quality and wine will increasingly be seen as the most civilised way to drink alcohol.
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