Wine market is currently witnessing steady growth in consumption in most of the countries of the world. Growing disposable incomes, rising affluence and sophistication, and the resultant consumer shift towards consumption of premium alcoholic beverages are driving growth in the wine industry worldwide. Moreover, developing countries like Russia, China, Australia and India, together with other countries, are expected to drive future growth in this market.
US wine market is one of the fastest growing markets of the world. It has expanded rapidly over the past few years on the back of increased consumption, medical benefits, government support and growing young population. The market will continue growing at a rapid pace in coming years also, says our new report “US Wine Market Forecast to 2012”.
As per the report, US is all set to become the largest wine consumer globally by 2012. The wine consumption in US is forecasted to grow at a CAGR of over 3% during 2009-2012 to reach 852 Million Gallons by 2012. Moreover, wine sales in the US will be worth US$ 44 Billion by 2012. The economic recession had little impact on the US wine industry as consumers saved funds to enjoy wines at home. As a result, US food store wine volume increased by nearly 1.6% in 2008.
Anticipating the current market trends and future prospects, we have done a comprehensive analysis of the US wine industry. The report covers various aspects of the country’s wine industry. It gives detailed product wise analysis of the wine market by studying it in terms of wine produced, wine consumed, color mix and amount of wine imported and exported.
Our research also highlights the factors responsible for the growth of US wine market over the forecasted period. It says that the millennial segment is the future of the wine industry and their numbers are increasing as younger members are attaining the drinking age. Moreover, rise in the number of female wine drinkers in marginal segment is also fueling the growth of the US wine industry. This trend, coupled with government’s initiatives, is playing a greater role in promoting reforms and competitiveness in the wine industry of the US.
