Bright future forecasted for wine industry

World wine consumption is forecasted to increase in volume and value between 2008 and 2012. A report by Vinexpo and the IWSR predicts that wine consumption will increase 6% in volume to 2.81 billion cases, and 8.92% in value to US$166.177 bn.

The UK will continue to be the biggest importer of still light wine, but its overall consumption will slow down. Volume is predicted to increase 5.96% compared to 12.42% between 2003 and 2007.
 
Within this, rosé (+47.64%) and white wine (+7.71%) consumption is predicted to grow more than red wine, which will decrease 4.57%.
 
Elsewhere, the US is predicted to become the highest still light wine consuming country in the world, overtaking both Italy and France. It is suggested that 314 million cases will be consumed by the US in 2012.

Chief executive of Vinexpo, Robert Beynat, said: “The world is drinking more, and the world is drinking better”, and added that the forecasts show this will continue.
 
These forecasts were made in September and October last year by looking at long term trends and speaking to trade figures in 130 countries.
 
Alistair Smith from IWSR said: “At that point no-one had a clear idea of what was going to happen,” and believes that they are perhaps a “little bit too optimistic.”
 
This does not bode well for the spirits industry. Total world spirits consumption is forecasted to rise a modest 0.36% between 2008 and 2012, although this will be higher at 5.86% in the UK.
 
While vodka is set to extend its dominance in the UK spirits market with a 21.01% increase in consumption. Whiskey (- 6.93%) and rum (- 4.89%) are predicted to fall further behind the market leader.

Dan Macadam, 16.01.08