Euromonitor: biggest growth in rosé, sparkling, New World and private label wines
The big opportunities for the Western European wine market are in rosé, sparkling wine, New World wines and private label, according to Euromonitor.
The big opportunities for the Western European wine market are in rosé, sparkling wine, New World wines and private label, according to Euromonitor.
Speaking at a seminar at London International Wine Fair, Euromonitor's alcoholic drinks analyst Spiros Malandrakis said that Western Europe was experiencing a "precarious, volatile and uneven recovery". He predicted total volume growth for the UK in the next four to five years of more than 0.4% compound annual growth rate by volume.
He said that wine volumes in the Western European market are "basically flatlining ? growth will be there but will be really anaemic", over the next five years.
Malandrikis predicted rosé wine will lead the charge until 2015, with a CAGR of 19%. He also predicted 5% CAGR for sparkling wine, 3% growth for white wine, while red wine will continue its decline ? CAGR was predicted at -3%.
He also expects the on-trade will continue to suffer, as the "cocooning" trend of staying in looks set to continue.
He said ever since the Lehman Bros collapse, Champagne had "completely dissolved". But he added that other sparkling wines were the big benefactors. Identifying additional opportunities for the next four to five years, Malandrikis said all producers should have wine available in cartons, pouches, cans, and consider "unconventional sizes".
The figures showed that internet discount retailers showed the biggest CAGR in the last five years, at 12% and 2% respectively.
When it comes to maketing opportunities, Euromonitor identified the benefits of drinking wine for cardiovascular health as one that could be promoted in the coming years ? if it passes stringent EU legislation it could really boost companies' corporate social responsibility agenda, according to Malandrikis.
Quoting statistics from 2010, Malandrikis said 1.4 billion 9 litre cases of wine sold in 2010, while overall CAGR volume growth between 2005 and 2010 was 0.7%.
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