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US set to drive global wine sales in both still & sparkling wines: Vinexpo report

Friday, January 19, 2018, 11:28 Hrs  [IST]
HBI Staff|New Delhi

As per the world wide data of 2016 released by Vinexpo, US remains the firm leader with nearly $34bn total value in still & sparkling wines. US is all set to drive the global wne sales which are predicted to grow at average of 2% year-on-year up till 2021. 

The US is expected to takeover UK and to become the largest importer of sparkling wine in the world by 2021, the report notes. The forecast indicates an upward trend over the next five years. The sale of still and sparkling wines is expected to reach over $45bn in a global market by 2021. 

After IWSR reveals the data for 2017, the US is expected to top the charts yet again in volume growth for the 23rd consecutive year, leaving behind the traditional wine making countries including France, Germany and Italy that declined in both value and volume in 2016. 

New Zealand is singled out as standout performer in terms of imports to the US, with French wines also performing strongly.

 In the world of spirits too, US maintains its status of a key growth generator. Here the premium price points are performing better than value with mainstream standard brands developing at a healthy rate. From a small base, premium spirits are forecast to increase on average over 5% per year between 2016 and 2021, while ‘super-premium+plus’ categories are forecast to outstrip premium spirits, growing on average over 7%.

 Flavoured Bourbon and Tennessee whiskies remain the major drivers of growth within the category as they continue to challenge perceptions, attract new consumers and broaden consumption occasions. The rising status of US whiskey has ensured that premiumisation has been a major part of the category’s development in many regions, and will continue to be so. The two key US whiskey export markets, Germany and the UK, will continue to perform strongly while Japanese consumers are also expected to increasingly choose US whiskey.

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