The worldwide consumption of wine will continue to increase until at least 2016 and consumers are willing to pay more in order to drinkbetter quality vintages, according to a report entitled ‘The World Wine and Spirits Market with Outlook to 2015’.
The detailed study, commissioned by VINEXPO, covers 28 producing countries and 114 consumption markets.
It forecasts an increase in consumption of 6.17% between 2011 and 2015, which amounts to nearly two billion extra bottles that will be drunk internationally during that period.
The US was already the world leading market in wine retail sales but has now also become the largest market in terms of volume, while China is ranked in fifth place in the world’s top markets, ahead of the UK.
The VINEXPO report forecasts a further 54.25% rise between 2011 and 2015 for Chinese wine consumption.
In the last decade, the wine sold at retail for more than €7.5 per bottle represented a 14.65% increase and wine lovers are progressively avoiding bottles priced at less than €3.7.
France remains at the top of the table for the value of its wine exports, having achieved €6.3 billion sales abroad in 2010, up 1.86% compared to 2006, ahead of Italy with €3.8 billion and Spain with exports worth €1.8 billion.
VINEXPO is considered by the media to be the world’s main wine fair and in 2013 it will take place in Bordeaux, France, the world’s major wine industry capital, from June 16 to June 20.