Posted: Aug 12, 2017
Love them or loathe them, millennials are becoming an increasingly important and influential demographic in the global wine market, which is now worth €29 billion. In the globe’s largest wine consuming country – the US – they now account for 36% of the market and are starting to ditch beer in favour of wine.
Encouragingly, wine lovers in the US are adopting a ‘less is better’ philosophy, with sales of wine over $10 a bottle on the rise. But while Americans may be spending more on wine, boxed wine brand Franzia remains the world’s best-selling wine brand with a 0.7% share of the global market, according to Euromonitor.
Global wine consumption remained stable last year at 242 million hectoliters. Both the US and China are driving the growth of the market – wine sales in the US are predicted to grow to $38.6 billion by 2020 and the country has retained its crown as the world’s largest wine consumer since 2011. Rosé is enjoying its moment in the sun in America right now, where sales of Provence pinks nearly doubled last year to 11.4 million litres.
Brits drank a third of the world’s Prosecco last year. Americans guzzled 31.8 million hectoliters of wine in 2016, while Chinese consumption rose by 7% to 17.3 million h/l, valued at US$15.5 billion. By 2020 China is expected to have leapfrogged the UK to become the second most valuable market for wine behind the US.
China imported an impressive 638 million hectoliters of wine last year, at a value of US$2.4 billon.
Proving how serious the country is about producing as well as drinking wine, China’s land under vine increased by 17,000 hectares last year to 847,000 hectares, putting it second only to Spain, which leads the way on 975,000 hectares, with France lagging behind in third on 785,000 hectares.
China has emerged as the one to watch in the wine market. Consumption is currently 60% homemade at the moment, though imports are on the rise. In terms of wine production however, Italy is out in front, having made 50.9 million hectoliters of wine last year.
France was close behind on 43.5m h/l, while Spain came in third, producing 39.3m h/l in 2016. Total wine production around the world dipped by 3% last year to 267 million hectoliters.
In the UK, Prosecco continues to dominate the headlines?and sales, as the Italian sparkler is increasingly viewed as an everyday treat. Prosecco now accounts for over half of sparkling wine sales in the UK off-trade, with Brits quaffing over a third of the total production of Prosecco DOC last year – 112.7 million litres.
Volume sales of sparkling wine in the UK are predicted to rise by 13% between now and 2019, with the category now worth over £1 billion in Britain.
China is being slated as the next big market for sparkling wine, with the category expected to grow by 43% in the country between now and 2020 as fizz moves beyond the confines of special occasions to become more of an everyday drink.
With the powerhouses of the US and China dominating the global wine game last year, it’s unsurprising that the majority of brands in our top 10 hail from these two nations – five from the US and two from China.
We’re keeping an eye on Chile’s Concha y Toro though, which is steadily rising to the top of the table with wines that outperform for their price points. Read on for our round up of the top 10 biggest-selling wine brands in the world last year. Sales figures are based on a combination of data provided by the brand owners and industry estimates.
By Lucy Shaw
August 10, 2017
Go-Wine's mission is to organize food and beverage information and make it universally accessible and beneficial. These are the benefits of sharing your article in Go-Wine.com