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Vinexpo to explore African wine boom
Vinexpo Bordeaux 2015 will host a conference dedicated to opportunities in the African market, where wine consumption is predicted to rise by a third in the decade to 2018.
The event will bring together key players in the African market who will highlight the risks and opportunities of doing business in a continent where wine consumption is currently growing five times faster than the global average.
According to IWSR data, 2013 saw total African wine consumption reach 864 million bottles, a 17.3% increase on 2009 levels, with the continent expected to hit 981m bottles by 2018, a further 11% rise.
This growth is being driven by an expanding middle class, greater political stability, a rise in external investment and improved economies for many African countries. Earlier this year, Pernod Ricard’s new CEO highlighted Africa as the next big growth region for his group’s wine and spirits portfolio.
Meanwhile beer sales continue to soar alongside wine, as African consumers trade up from home-brewed drinks to commercial brands. As a result Canadean has predicted an average annual growth rate of 5% for this category here between 2013 and 2017, making Africa the fastest growing beer market in the world.
Wine consumption in Africa is currently dominated by red wine, which rose by 28% between 2009 and 2013 to hit 384m bottles, overtaking white wine at 381.6m bottles in 2013. The rosé category is seeing the largest growth at 92% over that four year period, although from a much smaller base that saw 2013 consumption sit at 20.4m bottles.
Within the African market, South Africa is the dominant wine consuming country, accounting for 436.8m bottles in 2013. In second place by some distance sits Angola at 126m bottles, followed by Morocco at 43.2m. In fourth place is Nigeria, where consumption has rose particularly sharply by 26.2% between 2009 and 2013.
Moderated by “a renowned speaker of a famous African TV channel,” the Vinexpo conference will take place on Wednesday 17 June from 10am-11.30am in Amphitheatre C at the Palais des Congrès.