U.S. Poised to Become World’s Largest Wine-Consuming Market by 2012
Jan. 28, 2009, marketwire
NEW YORK, NY – Within three years, the US will become the world’s biggest consumer of still wine, according to the VINEXPO study conducted by leading London-based drinks research organization International Wine & Spirit Record (IWSR). The study also revealed American consumption is expected to grow over the next five years despite the economic downturn, reaching 330 million cases or 3.96 billion bottles. Mr. Xavier de Eizaguirre, Chairman of VINEXPO and Mr. Robert Beynat, Chief Executive of VINEXPO presented these results and others at a press conference held earlier today at the Four Seasons Hotel in New York City.
Key Findings (In Our Opinion) From the Study:
- The U.S. is the fourth largest wine producing country in the world (362.4 million cases), behind Italy, France and Spain
- The U.S. is the #1 Market in the World for wine sales over $10 per bottle.
- The U.S. ranks #3 in the world in terms of wine consumption (274.1 Mill. Cases) – Consumption per person is predicted to grow by 1 liter every 5 years (right now its 12.1 liters per person, by 2012, the forecast is 13.1 liters).
- Over the next five years, wine drinking in the U.S. is predicted to grow at a rate of 12%.
- Red wine is the driving force behind consumption in the US. In 2008, Americans were estimated to have consumed more than 1.47 billion bottles of red wine. This number is projected to rise to 1.74 billion over the next five years.
- Consumption of rosé wine is forecast to rise by nearly 10% from 565 million bottles to 620 million bottles.
- Consumption of white wine is forecast to rise only by 5.4% from 1.3 billion bottles last year to 1.4 billion in 2012.
Data compiled for VINEXPO on the global and US wine & spirits market is part of VINEXPO’s worldwide research project in conjunction with IWSR in 28 wine producing countries and 114 wine and spirits consuming markets. VINEXPO is the world’s largest wine and spirits exhibition and is expected to attract nearly 2,400 exhibitors from 45 countries and 50,000 visitors from more than 150 countries at this year’s exhibition in Bordeaux from June 21st through June 25th. For more information on the show and to register, please go to www.vinexpo.com.