USA: Burgundy wines could take better advantage of the economic recovery

Tuesday May 06 2014 by Vitisphere

 

The U.S market remains the top export market for Burgundy, a position it has held since 2011, and it is continuing to grow despite an unfavourable exchange rate. In 2013, it represented 21.7% of exports by value. By volume, the UK remains the top destination country for Burgundy wines (20.5% in 2013 compared to 17.8% for the U.S.). The growth of Burgundy wines in the U.S. (+6.9% by volume to 16.4 million bottles, and +7.5% by value to €168.9 million, in 2013 compared to 2012) has been achieved against a backdrop of recovery in U.S. wine imports, after the sharp decline of 2008-2009.

White wines dominate Burgundy’s U.S. exports (64% of volume, +9.4% in 2013, while the reds declined by -1.4% compared to 2012). This strong presence and growth has been primarily driven by Chablis wines as part of the particularly strong export growth of the regional appellation white wines, which represent the majority of the exports, and which were up +13.7%, compared to +2.1% for the red wines.  Crémant de Bourgogne has benefited from a catch-up effect, growing by +21.6% in 2013 and representing 8% of Burgundy export volume.

The Interprofession des Vins de Bourgogne stated  "However, Burgundy’s growth potential in this market is hampered by a strong euro against a weak U.S. dollar"       In fact, Burgundy’s growth was lower than the overall increase in wine imports into the U.S. (+ 8% in 2011/2010 and +15% in 2012/2011) against a backdrop of rising Burgundy prices, which is worrying the industry (click here to read our report in french) .

[Vitisphere - Source: BIVB]

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