February 1, 2023

Hardwood Paroxysm

All Latest News For You!

United States: Demand for premium wines will increase in 2022

According to the latest report by the wine division of Silicon Valley Bank (SVB), published by Decanter magazine, in 2022 the demand for premium wines in the US market has grown. In general, however, the total consumption of wine recorded a decline, and a decrease in volumes also due to the decrease in interest of young people in the nectar of Bacchus, a trend that is emerging as a source of concern and challenge for the world. of wine you must experience.

Sipsource data shows that demand for wines priced over $15 a bottle is on the rise. “Concerns about alcohol use, health effects, challenging global economic conditions, and the increasing impact of climate change on viticulture influence consumer behaviour.”Rob McMillan, author of the report and founder of SVB’s wine division, who continues: “The positive growth in sales of fine wines is expected to continue in 2023.”.

Against the backdrop of rising costs, inflation and recession, the economy was a major concern highlighted by wineries in the SVB survey.

Similar data comes from the IWSR research group; wines “excellent and high quality” It recorded sales growth of 6% in terms of volume last year. Again in the US wine segment, and again in 2022, overall volumes are down 2%, even though demand for sparkling wine has increased.

said Brandi Rand, chief strategy officer at IWSR Drinks Market Analysis A recent IWSR Consumer Price Sensitivity Survey shows that Americans feel confident about their finances on a personal level..

Adnkronos – Harvest