The latest study from Vinexpo/ International Wine and Spirit Research is out, and it makes for interesting reading. According to this research our friends across the pond are buying more wine than ever, and they’re spending more on it too.
America has dominated the market for quite some time: it has been the largest wine consuming nation for the past 23 years and has shown consistent growth. Not only are American wine drinkers buying more wine than ever, they are also spending more than ever, with the average price spent on a bottle increasing from around $6 in 2011 to more like $10 in 2017. What’s more, this study predicts that it will continue to hold this position for the next 5 years.
So what are the Americans buying? Current figures show that Italy currently holds the top spot for the most imports: 25.5 million 12 bottle cases were imported in 2016 while Australia is the second biggest importer at 15.7 million 12 bottle cases. However, these rankings are predicted to change drastically as both Italy and Australia are expected to see imports drop by -1% and a -1.4% respectively in the U.S.
France and New Zealand (who are currently the 3rd and 5th biggest importers respectively), on the other hand, will see imports increase significantly over the next 5 years as red blends and Sauvignon Blanc become increasingly fashionable. This study also reveals that more and more millennials (defined as 21 – 38 year olds) are buying wine and they’re spending more than their parents to boot. Research from the WMC (Wine Markets Council) revealed that 17% of this age range had bought a bottle costing over $20 in the last month. This figure amongst baby boomers was only a measly 5%. What’s more, millennials seem to have a taste for foreign wine and buy far less American wine compared to the older age groups.
It’s worth noting, however, that although the United States might be the highest wine consuming country by volume, France remains the highest wine consuming country per habitant: the average French person consumes 44 litres per year while in the States this figure is only 10 litres per habitant per year.
Here at iDealwine we have plenty of American customers. We have noticed that their average spend is indeed higher than European wine buyers and their buying preferences are fascinating! Our American friends are indeed partial to a nice bottle of something French and, even though they love Bordeaux and Burgundy like the rest of us, they don’t let a few thousand miles of ocean stop them from sniffing out some of the quirkier wines. The Americans can be savvy and know how to spot a good bottle from some of the lesser known regions. For example, the vins jaunes from the Jura, such as those de Jacques Puffeney and wines from the great Beaujolais producer Yvon Métras have proved very popular. Be sure to try these two outstanding wines yourself!
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