The international wine industry is expected to garner over $292 billion this year. That will bring the market volume up to 22.1 billion liters, a 3.5% increase in the last five years. The European Union is still the leading contributor to the wine market, controlling 75% of shares.
That being said, Kriter Patriarche is the number one exporter of wine globally, holding only 4% of the market. The top three wine exporters combined hold less than 8% of the market, making this industry one of the most diverse in the global economy.
The economic crisis took its toll on the wine industry, particularly with champagne sales, in 2008 as consumers stopped buying what were viewed as non-essential items. However, this was a short-lived drop, as by 2010 the champagne market had picked back up by 8%.
The United States wine industry has been steadily gaining purchase in the global scope. Led by young consumers, cheaper wines are selling fast. While the U.S. wine industry only accounts for 8% of the global wine economy, we have surpassed France as the leading consumers of wine. California is currently leading the bracket domestically, holding 90% of the wine production in the United States.
There is a growing need for diverse, quality and affordable wines in the United States of America. Su Vino Winery in Scottsdale Arizona is following the trends and responding to that need. Contact us today to learn more about our personalized wines and tastings.