Booze sales up as economics are down
This is no surprise. Weather your happy or down, you’ll have a drink and in these times, escapism in the bottle is prevalent. Wine sales are going through the roof as well an as this article point’s out 2012 is the magic year for the US to top the market .
Notable US Rankings for 2007:
— Number one market in the world in terms of turnover for still wine sales ($21.8 billion) and sales of wine over $10 per bottle.
— Number three market in the world for still wine consumption (274.1 million cases) and number four (14.7 million cases) for sparkling wine consumption.
— Third largest world market in terms of imported still wine consumption in volume (77.6 million cases) and second largest world market in terms of turnover for the sale of these wines ($7.8 billion), behind the United Kingdom.
— Fourth largest wine producing country in the world (362.4 million cases), behind Italy, France and Spain.
Key findings of the VINEXPO/IWSR study for the US:
— In the five years from 2003, consumption of still and sparkling wines per person of legal drinking age grew from 11.1 liters to 12.1 liters. Consumption per person is projected to increase over the next five years to 13.1 liters, or 1 liter every 5 years.
— Imported wine consumption will pass the 100-million-case threshold (1.2 billion bottles) by 2012, an increase of 17.9% vs. 2008, and should generate a turnover of close to $10 billion ($9.688 billion) at retail.
— Wine drinking in the US grew more than 14% in the five years from 2003 to 2007 and is forecast to continue growing over the next five years, albeit at a slower rate of nearly 12%.
— Red wine is the driving force behind consumption in the US. In 2008, Americans were estimated to have consumed more than 1.47 billion bottles of red wine. This number is projected to rise to 1.74 billion over the next five years.
— Consumption of rosé wine is forecast to rise by nearly 10% from 565 million bottles to 620 million bottles.
— Consumption of white wine is forecast to rise only by 5.4% from 1.3 billion bottles last year to 1.4 billion in 2012.
— Still wine value is expected to rise more than 13.6% over the next five years to reach $25.5 billion.
— Spirits consumption in the USA also rose over the five years from 2003 to 2007 reaching 178 million 9-liter cases, or more than 2.14 billion bottles. By 2012, consumption is forecast to grow by more than 10% to reach 2.4 billion bottles.
— Vodka is Americans’ favorite spirit; sales rose by 27% from 2003 to 2007 to reach more than 53 million cases, or 636 million bottles. Consumption of vodka will continue to increase and by 2012 it will have grown a further 20% to 65 million 9-liter cases.
Key findings of the VINEXPO/IWSR study for the World:
— Between 2003 and 2007, worldwide wine production grew by 1.78% to reach a total of 2.828 billion 9-liter cases.
— World production will continue to grow by 3.83% between 2008 and 2012, to reach 3.022 billion cases.
— In 2007, more than 31 billion bottles of wine were consumed around the world.
— The overall trend to 2012 indicates that world wine consumption will continue to increase by 6% over the 5-year period, reaching a total of 2.816 billion cases.
— World spirits consumption reached 2.224 billion 9-liter cases in 2007.
— Vodka is by far the leading spirit worldwide and its consumption will increase by a further 5.29% by 2012.
— Cognac and Armagnac will maintain strong growth of 9.53% between 2008 and 2012.
— Rum and Scotch whiskey consumption continue to grow.