Global consumption of still and sparkling wine is forecast to reach $207bn by 2022, for a total volume of 2.7bn nine-litre cases, reveals the latest IWSR Vinexpo report. The total still and sparkling wine market will grow in volume by 2.15% between 2017 and 2022.
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London, UK – The US continues to inch forward as the world’s most valuable wine market, worth $34.8bn in 2017. France is the second most valuable market at $16.7bn, followed closely by China at third place at $16.5bn.
In the run-up to 2022, premium wines (priced at $10.00-$20.00) will be the biggest driver of value growth for still and sparkling wine (+15% between 2017 to 2022). The US and China will be major contributors to this trend.
Sparkling wine is putting fizz into the global market, especially in Europe which accounts for 65% of volume and 55% of value. World volume of 260.2m cases was worth $28.9bn. By 2022, volume is expected to rise to 281m cases, worth $32.9bn.
In value terms, the top five markets are the US ($4.5bn), France ($3.6bn), the UK and Germany ($2.7bn each) and Italy ($2.5bn).
While locally made spirits account for nearly 90% of consumption worldwide, international spirits are eroding this share, especially in China (baijiu) and Asia-Pacific (cane, brandy and rum). Between 2017 and 2022, consumption of imported spirits will grow by 12%, to reach 399m nine-litre cases.
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About the IWSR
The IWSR is the leading source of data and intelligence on the alcoholic beverage market. The IWSR’s database, essential to the industry, quantifies the global market of wine, spirits, beer, cider and mixed drinks by volume and value in 157 countries, and provides insight into short- and long-term trends, including five-year volume and value forecasts. The IWSR tracks overall consumption and trends at brand, price segment and category level. Our data is used by the major international wine, spirits and beer companies, as well as financial and alcoholic beverage market suppliers. The IWSR’s unique methodology allows us to get closer to what is actually consumed and better understand how markets work. Our analysts travel the world in order to meet over 1,600 local professionals to capture market trends and the ‘why’ behind the numbers.