At Vinexpo last week, the IWSR (International Wine and Spirit Research) presented a study of the latest figures in the wine market. We tell you all you need to know 😊.
An overview of global consumption
- Between 2017 and 2022, the global wine market should grow by 2.15% in volume
- Consumption is increasing faster in value than volume
- The United States have reinforced their position as number one market in terms of value (34.8 billion dollars in 2017) and volume (318 million 9-litre cases consumed every year)
- France is the second market in terms of value, (16.7 billion USD), closely followed by China (16.5 billion USD). China should surpass France by 2020 (19.5 billion USD expected in 2022).
- In volume, Italy is second after the US (266 million), followed by France (250 millions), Germany (224 millions) China (156 millions).
- Germany is the world’s biggest import market (126.3 million cases), followed by the United Kingdom (114 million cases), the US (79.9 million) and China (61 million).
The products behind the growth
- By 2022, Premium wines (between 10 and 20 USD) will be the principal motor for growth in value of still and sparking wines (+15% between 2017 and 2022)
- Red wine is the most consumed wine, but this will reduce from 55% to 54% by 2022
- Sparkling wines (especially prosecco) will increase from 28.9 billion USD to 32.9 billion, a market driven by the US. On the other hand, British demand will reduce
Buying wine online
- On a global scale, the frequency at which wine is bought online is relatively low but is on the rise
- Only in China and the United Kingdom do more than 50% of wine consumers buy wine online more than once a month (56% and 50% respectively)
- In France, 35% of wine consumers buy online at least once a month; 33% in Germany and Italy and 28% in Spain
- The primary motivation for buying wine online is its ease, rather than the price or product availability
- Of all alcoholic drinks, wine is the number one product to be sold online, representing 60 to 70% of the total