Business News
U.S. Wine Consumption Still Climbing With No End in Sight
2008-08-22 08:00:00
Favorable demographics and new twists on packaging are fueling
continued growth for wine consumption and spending in the United States
NORWALK, Conn., Aug. 22 /EMWNews/ -- Overall wine consumption in the
United States rose 3.2 percent in 2007 to 292.1 million 9-liter cases,
according the Beverage Information Group's recently released 2008 Wine
Handbook. This marks the fourteenth consecutive year of case gains,
indicating positive long-term health and sustainability for the wine
industry overall. Increased consumer spending on wine in both the on- and
off-premise channels in 2007 mirrored the increase in consumption. Total
wine retail dollars peaked at $27.9 billion last year.
"If wine continues to grow at these levels, the U.S. will surpass both
Italy and France to become both the largest wine market and biggest wine
importer in the world by the end of the decade," says Eric Schmidt, manager
of information services for the Beverage Information Group based in
Norwalk, Connecticut.
Important demographic trends cited in the 2008 Wine Handbook are quite
favorable for the wine industry. The 70 million people that make up the
"Millennial" generation (age 23 to 30) are not as sophisticated about wine
as proceeding generations and are willing to experiment with bottles at
lower price points, according to the 2008 Wine Handbook. They also prefer
to buy wine based on visual appeal and name recognition rather than
winemaking region. Conversely, the Baby Boomers, the 77 million Americans
between the ages of 43 and 61, have more disposable income and are spending
on the more exclusive, higher-priced wines. What's more, the Hispanic
demographic is emerging as an important wine consumer group and the Echo
Boomers are coming of age in rapid numbers.
Packaging trends are also boding well for the wine industry. Boxed wine
is experiencing a resurgence in the United States as it's now being used
for premium and super-premium wines in addition to traditional bulk wines
of lesser quality. Target's Wine Cube, produced by Trinchero Family
Estates, and the super-premium Black Box Wines from Constellation Wines are
prime examples. Screw cap closures are also gaining greater acceptance
stateside for their airtight seal and reseal capabilities.
The 2008 Wine Handbook is the leading source for U.S. wine sales and
consumption trends. Used by wine professionals worldwide since 1970, the
Wine Handbook includes consumption analysis by category and by state; the
top 50 metro markets for wine consumption by category; supplier
performance; advertising expenditures by brand, company and media type;
consumer drinking preferences; economic and demographic data; and more.
The cost of the 2008 Wine Handbook is $775; handbook with companion CD
is $945. Shipping and handling is $10 for U.S. and Canadian orders, $20 for
international orders. The 2008 Wine Handbook and 2008 Wine Handbook with CD
can both be purchased at http://www.beveragehandbooks.com or by calling Cynthia
Porter at (630) 762-8709.
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