Wine Consumption Grows Modestly
Wine consumption is predicted to have grown modestly when 2014 is over.
The U.S. wine market is expected to continue its long-term growth streak in 2014, at a modest 0.3 percent projected increase, adding just over 1 million cases to reach 322 million cases this calendar year, according to the current edition of “The U.S. Wine Market: Impact Databank Review and Forecast.”
According to the report, overall growth has been sluggish for the past three years due to economic conditions. Before the latest recession, the wine market rose an average of 3.1 percent annually from 2003 to 2008, but growth slowed to 1.2 percent annually from 2008 to 2013. Consumption has increased nearly 80 percent over the past two decades, to the point that last year, the U.S. became the number-one wine-consuming nation in the world for the first time ever, surpassing France.
The report predicts sparkling wine is projected to continue its growth spurt, with an expected increase of 2.9 percent in 2014 to 16 million cases, surpassing the previous record of 15.7 million cases set in 1999. Recent growth for the sparkling wine sector has come predominantly from the continuing success of Prosecco. Sparkling wines are projected to account for five percent of the U.S. market this year, according to the report.
Among table wines, Chardonnay remains the largest-selling varietal in the country, followed by Cabernet Sauvignon, with recent dynamic growth from Moscato, Pinot Noir, Pinot Grigio and Sauvignon Blanc. Domestic brands now account for more than 75 percent of the table wine market.