The figures are optimistic and if there are no climatic problems or an exacerbation of the commercial war, the consumption of wine in a bottle format will continue to grow and China will become the second most valuable market on the planet after the US.
As estimated by the IWSR in its latest report, world consumption of calm and sparkling wines will reach 207,000 million dollars by 2022, with a total volume of 24,300 million liters. In general, the total market for calm and sparkling wines will grow in volume by 2.15% between 2017 and 2022, according to estimates by the consultant.
This figure could be much higher if the categories of bulk wines (Bag in Box or BiB) and special wines are included, which are not included in this report. This, taking into account the 29.2 billion liters of calm, sparkling and special wines of world production in 2018, according to the global balance of the global wine sector presented last July by the International Organization of Vine and Wine (OIV) .
The key here is driven by the global trend of “drinking less but better.” In this sense, the growth in value will exceed the growth in volume in all regions of the world, according to the report.
This trend will be particularly evident in America (north and south) and in Asia-Pacific. He also points out that growth in both volume and value in Europe will be more moderate and, despite everything, the old continent will continue to lead consumption in both volume and value, with a world market share of 58% and 50% respectively.
The value of China will surpass France
The United States will continue to progress gradually as the most valuable wine market in the world, which currently has a market of $ 34.8 billion in bottled wines according to the report. However, IWSR research predicts that China will overtake France as the second most valuable market in the world. By 2022, the study predicts that the value of the Chinese market will exceed US $ 19.5 billion.
The study also refers to the fact that in 2022, premium wines (priced between $ 10 and $ 20) will be the biggest driver of value growth for standard bottled wines, with a 15% growth between 2017 and 2022. The United States and China will be the main contributors to this trend.
Although red wine currently dominates world consumption with a 55% share (IWSR data), it is predicted that it will fall below 54% by 2022, in favor of white and rosé wine that will increase its world consumption in the same period.
The sparkling wine will remain in “effervescence” in the global market, especially in Europe, where it currently represents 65% of the volume and 55% of the value. By 2022, the volume is expected to increase to 2,529 million liters worth $ 32.9 billion.
The United States will boost the growth of imported sparkling wine in the coming years, by increasing its consumption by 41.4 million liters. Growth in the United Kingdom will slow down, however, the report notes that the United Kingdom will increase its sparkling consumption by 16.2 million liters until 2022. Both imports of sparkling wine from the USA. UU. As in the United Kingdom, they will be promoted by Prosecco, which is consolidated as the first sparkling wine consumed in the world.
Learn more about world wine trends and the different markets where it develops.
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