According to IWSR 2017-2022 Forecast, the value of wine will outstrip volume growth in the five-year period. Overall, the latest report from Vinexpo and the International Wine and Spirits Research group predicts that global consumption of still and sparkling wine will reach USD $207 billion by 2022, representing a growth in volume of 2.15 percent in 2017-2022.
But after teasing out more details from the research, analysts found that consumers aren't drinking more, they're drinking better, plucking premium bottles off the shelves.
Up to 2022, the report says that premium wines priced at $10 -
$20 will be the biggest driver of value growth (+15 percent) for both still and
sparkling wine. This is especially true of the US and China.
It is interesting to note that red wine consumption dominates the pie chart at 55 percent share, which is expected to drop by one percent by 2022. In the same time frame, consumption of white wine and rose wine is expected to see a steady increase. Sparkling wine continue add to the sparkle of the wine market, where the volume is expected to rise to 281 million cases worth $32.9 billion in 2022.
Similarly, ‘premium-plus’ bottles in all categories except vodka are forecast to grow over the next five years.
In terms of value, the US remains the world's most valuable wine market at $34.8 billion, according to 2017 figures, followed by France at $16.7 billion and China, which trails close behind at $16.5 billion.
In fact, China is predicted to overtake France by 2020, with a value of $19.5 billion by 2022.
The top five markets for volume are led by the US, followed by Italy, France, Germany and China. And the world's leading import markets are Germany, the UK, the US and China.
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