Jan 18: New global data from Vinexpo 2016 released by (International Wine and Spirits Review (IWSR) reveals that the US remains the firm leader in global value of around $34 billion in both still & sparkling wine categories, according to a Report that forecasts that the US wine market will increase its global lead over the next five years. By 2021 US sales of still and sparkling wines are expected to reach just over $45 billion in a global market expected to reach 2.66 billion cases worth over $224 billion
Not only is the USA the biggest consumer of wine in the world so far but is also expected to lead world wine volume growth in 2017 for the 23rd consecutive year when final results are revealed and announced later this year. The data, compiled for Vinexpo by IWSR, is considered among the most reliable of all market data for the wine and spirits sectors.
By contrast, the wine markets of Europe’s heavyweights like France, Germany and Italy, declined in value and volume in 2016, in continuation of a long-running trend, since the early 2000s.
Top Six Import market leaders
Consumption is forecast to continue to grow to 2021, at a CAGR (Compound annual growth rate) of 1%. Both local and imported wines will grow. New Zealand will be the standout performer in terms of exports to the US with a CAGR of around 10%, with French wines also performing strongly at a growth rate of 2.8%. Both the South American exporters would score a flat +.5% growth. Australia will continue the decline at 1.4%, as will Italy (-1%).
- Italy (25.5 million 9-litre cases imported in 2016. CAGR 2016-2021: -1%)
- Australia (15.7 million 9-litre cases imported in 2016.. CAGR 2016-2021: -1.4%)
- French (10.4 million 9-litre cases imported in 2016. CAGR 2016-2021: +2.8%)
- Chile (6.8 million 9-litre cases imported in 2016. CAGR 2016-2021: +0.5 %)
- Argentina (6.1 million 9-litre cases imported in 2016. CAGR 2016-2021: +0.5 %)
- New Zealand (5.2 million 9-litre cases imported in 2016. CAGR 2016-2021: +9.9 %)
US is sparkling
Sparkling wine is forecast to grow by on average 2% yearly in 2017-21, driven predominantly by North America. In Europe, the world’s largest regional consumer of sparkling wines, the outlook is also generally positive. Even though the UK (the world’s largest sparkling wine importer) is expected to develop strongly, it will nonetheless be overtaken by the US as the world’s most important export destination by 2021. Prosecco is expected to grow most in the US, which is likely to become the category’s second largest export destination, after the UK.
Vinexpo future growth
After its success in Asia with Vinexpo Hong Kong, now established over 20 years, its sister expo Vinexpo Tokyo and, most recently, the launch of Vinexpo New York scheduled on March 5 – 6, 2018 , Vinexpo as a group has consolidated its ongoing expansion strategy.
Future growth is planned with the launch of Vinexpo Paris. The first Paris exhibition will take place 13-15 January, 2020 at the Paris Convention Centre (Porte de Versailles). The advantages of holding an international wine and spirits exhibition in the French capital, in addition to the long-established expo held biennially in Bordeaux (every odd year) are many; not the are its attraction as a city, accessibility and its neutrality as a venue for a wine event of this magnitude.
The Group boasts over 30 years’ B2B experience and thus has an in-depth understanding of the market as well as strong relationships with key distributors across the world. It runs exhibitions in five locations (Bordeaux, Hong Kong, Tokyo, New York and soon Paris), and one touring show (Vinexpo Explorer). Thus it covers the three continents with the highest consumption rates and claims to be the market leader for wine events as a group.
Subhash Arora
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