Italy Set For Highest Growth Among Wine Producing Countries
The global wine market is set to see production increase by 2.4% growth in production and consumption increase by 4.3% between now and the end of the decade, according to Ismea’s Wine Outlook 2020 report.
The study, presented at the Vinitaly event annual international wine trade event in Verona, also forecasts that the highest growth in wine consumption will come from China (+21.6%), Russia (+6.1%) and the USA (5.7%).
Among wine producing countries, Italy will grow the most, with a sales increase of 10% expected in the next four years, higher than France and Chile (+6.1%), the USA (+4.3%) and Spain (+3.6%).
Ismea spokesperson Raffaele Borriello pointed out that consumption in China should reach the same level as Germany by 2020, while domestic consumption in Italy will remain stable (+ 0.9%). In terms of the average value of exports, Italian wine has grown by 20% in the period 2014-2016 compared to 2011-2013.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine