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Americans Drinking More Wines
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Americans Drinking More Wines

Sep 25, 2009
With changing perception of Americans towards wine and spreading awareness of health benefits of wine, the US wine consumption grew 0.9% in 2008.
 
The Beverage Information Group has recently published 2009 Wine Handbook that says the total wine consumption in the US surged 0.9% to 294.7 Million 9-liter cases, as reported by Reuters.
 
While the wine consumption growth rate slipped down significantly, the industry registered 2008 as its fifteenth consecutive year when case gained. Consumers have become more conscious and frugal in their expenses after the tremendous pressure of recession that have given a severe blow to high-priced wine in both off and on-premises.
 
Wines imported from foreign countries dipped 1.8% whereas domestically produced wine posted surge of 1.9%, replacement of recent trend when imported wines not only drove this sector but the whole industry.
An encouraging thing for the US wine industry is changing demographics as 70 Million people of Millennial generation (age 21-30) perceive wines differently from others. This generation is not so peculiar about wines than preceding generation and is characterized by boldness to experiment with wines of low price points.
 
Another key reason for uptrend in the US wine consumption is depreciation in the US dollar against major currencies that have made imported wine expensive. This has developed a favorable ground for the domestic vintages, which are more competitive than others.
 
Recent studies on the benefits of wine on moderate drinkers have made people more open to wine consumption. Low risk of heart diseases, stroke and cancer has encouraged health-conscious people to include wine in their diet.
 
As per a new research report “US Wine Market Forecast to 2012” by RNCOS, the annual wine consumption of Americans is projected to grow nearly 852 Million Gallons by the end of 2012 from an estimated consumption of 774 Million Gallons for 2009. The consumption will grow at a CAGR of 3% to make the US world’s largest wine consumer on account of strong support of restaurants and hotels, rising consumer interest and spreading awareness of wine drinking benefits on human body.
 
A RNCOS Research Analyst said, “The US is poised to become the world’s largest wine consumer in coming years. Besides, the fast growing wine consumption presents a plethora of opportunities for related businesses like retailers, drug store chains hotels and restaurants and grape growers.”
 
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