Exclusive: U.S. Wine Market to Rise for 21st Consecutive Year, Reports Impact DatabankNovember 13, 2014
The U.S. wine market is expected to continue its long-term growth streak in 2014, albeit at a modest 0.3% projected increase to 322 million nine-liter cases. The market is expected to add just over 1 million cases this calendar year, according to the current edition of The U.S. Wine Market: Impact Databank Review and Forecast. Last year, the U.S. became the number-one wine-consuming nation in the world for the first time ever, surpassing France.
Overall growth has been sluggish for the past three years due to lackluster economic conditions. Before the latest recession, the wine market rose an average of 3.1% annually for the five-year period from 2003 to 2008, but growth slowed dramatically to just 1.2% annually from 2008 to 2013. Still, consumption has increased nearly 80% over the past two decades, despite two major recessions in that time span and the lingering impact of the global financial crisis.
Sparkling wine is projected to outperform still/table wines and the U.S. wine market overall for the sixth consecutive year, with an expected increase of 2.9% in 2014 to 16 million cases, a new all-time high. This will surpass the previous record of 15.7 million cases set in 1999, resulting from Millennial celebrations. Recent growth for the sparkling wine sector has come predominantly from the continuing success of Prosecco. Sparkling wines are projected to account for 5% of the U.S. market this year.
Among table wines, Chardonnay remains the largest-selling varietal in the country, followed by Cabernet Sauvignon. But recent dynamic growth has come from Moscato, Pinot Noir, Pinot Grigio and Sauvignon Blanc. Domestic brands have outperformed imported wines the past six years, and now account for more than 75% of the table wine market.
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