The US is emerging as the world’s biggest market for imported wine as gen-next of the country is not hesitating to try new tastes.
America soon will be overriding other countries in terms of per capita wine consumption, as per the Wine Market Council, reported decanter.
The study by Council gathers and interprets data from different sources showing that the US per capita wine consumption attained a three-fold increase from 1970 and reach 14.5 Liter per person in 2007.
The Council, a body of vine farmers, manufacturers, and professionals associated with wine industry revealed in its annual survey that in 2007, almost 304 Million cases of wine were sold, highest number in history and rise for the 15th time in a row!
John Gillespie, President, Wine Market Council, stated that 'most in the wine trade believe that the US passed Italy in 2007' as far as overall consumption is concerned and is expected to surpass France in wine consumption (in volume terms) by 2010, reported decanter.
Wine importers are snatching market share from their US counterparts. The reasons behind this are superior quality of wine, better product campaign, and comparative value of the imported wine. In 2007, almost 10 Million cases of wine were imported. The increasing popularity of imported products (wine) is conspicuous as it arrives at an occasion when dollar is feeble that drive prices of imported wines in the US up.
Other reasons for increasing wine import are the curiosity to taste imported wine among young drinkers leading to hike in demand for foreign wines. The young American generation is more open to foreign products in comparison to their parents and most particularly, towards foreign wine.
Principal importers of wine in the country are investing in huge marketing campaigns across the country that increases the product presence and lead to higher sales. Spain, for instance, is a country whose wine business has made high investment in advertising and promoting its wines in the US, encouraging younger wine drinkers toward Spanish wines, which they take as "erotic".
As per a Research Analyst at RNCOS “While Americans crave for superior wines has sent winery earnings surging, competition from imported wine has increased significantly. A horde of polished new wine brand names from abroad has covered the US market and trying to attract Americans for new flavor, which was beyond their reach earlier.”
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