The old adage goes that people drink to recognize both good and bad times. This, unfortunately for the beer, wine and spirits industry, is not the case. As with many other consumer packaged goods (CPG) segments, wine industry growth rates have dropped during the last three recessions (1991, 2001 and 2008-2009) and immediately after these recessions ended, industry growth resumed.
Based on a detailed analysis of past recoveries, Chicago-based SymphonyIRI predicts several years of 3 percent volume growth once consumer expectations have stabilized.