5 future trends for the global wine market

Sunday June 18 2017 by Vitisphere

The findings of the latest IWSR study for Vinexpo, outlining market trends between now and 2020, was presented to the press on April 27.

China, the global market’s driving force.

Over the next five years, the world wine arena will have to rely on China to drive consumption growth. The country is likely to account for 72% of consumption growth over the next five years in terms of import volumes.

Portugal, Europe’s leading consumer country

By 2020, Portugal should outstrip France by consumption volume. The growth can mainly be ascribed to the development of tourism.

The strongest surge in consumption will be India

Admittedly, the country is starting from a very low base, with consumption of 1.81 million cases in 2016, but it should surge by 49.7% by 2020, an increase which makes it the leading country for consumption growth in the world.

Three African nations in the top 10 countries for import growth

Although imports will grow most in China by 2020, it is interesting to note that three African countries are in the top 10: Ivory Coast, Namibia and Nigeria.

France is the leading exporter country by value

France’s supremacy in terms of export values should remain unchanged between now and 2020. Italy is due to remain in second place.


 

Source: Vitisphere. Photo credit: Pixabay

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