- Rose wines also leading market expansion, Vinexpo says
- Chinese market is showing signs of recovery after downturn
Sparkling wines are poised to lead growth in the global wine market from 2015 to 2019, with rose wines and premium labels also driving expansion, according to the Bordeaux-based international wine and spirits exhibition Vinexpo.
While worldwide wine consumption looks set to rise 1.4 percent over the period, sparkling wines, which account for 8 percent of the total, will advance 7.4 percent, according to an e-mailed study released this week from Vinexpo. Rose wine consumption, which accounts for 9 percent of still light wines consumed, will grow by 2.2 percent and premium still light wines are forecast to rise 12 percent, Vinexpo said.
The prediction for renewed growth comes after global consumption of still light wine fell 1.2 percent in 2014 to 2.4 billion 9-liter cases, led by declining consumption in Europe and the Asia-Pacific region, according to Vinexpo, which drew on International Wine and Spirit Research data. North America remains a growing market. Sluggish growth in world economies, combined with stricter laws against drinking and driving in many regions and broader publicity over health issues, have contributed to the decline.
“What we’ve seen in the last survey is the emergence of sparkling wine globally,” Vinexpo Chief Executive Officer Guillaume Deglise said in a telephone interview. “Mainly prosecco is driving the category. Rose wine is also quite strong.”
Deglise said demand in China is picking up again after a downturn sparked by government measures against gift-giving, with consumers now driving sales rather than corporate buyers.
“The market is recovering, but in a different way from before,” Deglise said. “It seems Chinese consumers are real consumers, which creates a lot of opportunity for exporters.”
Vinexpo is holding a wine trade fair in Hong Kong in May and another in Tokyo in November.