Capping several years of steady, modest growth for both domestic and import wines, the wine market in the United States continues to grow, experts note. Fueled by consumers’ interest in fine wine and increased product launches, the market has grown “at mid-single-digit rates on dollars [and] smaller single-digit rates on volume as consumers continue to trade up to more expensive wines,” says Danny Brager, senior vice president of beverage alcohol for New York-based Nielsen. “Sparkling wines in particular continue to grow dynamically at double-digit rates.”
A recent IWSR survey commissioned by international wine and spirits exhibition Vinexpo has found that the United States is driving global wine consumption as the alcohol category’s largest wine market.
After ringing in the New Year with a glass of Champagne or sparkling wine, there’s no better time than the present to take a look at the future of this growing segment. And according to New York-based global market research firm TNS, the sub-category has a lot to look forward to this year.