Areas of strength amid wine consumption shrinkage in the US

Published 2024년 11월 8일

Tridge summary

The U.S. beverage alcohol market has seen a decline of -2.8% in the first seven months of the year, with wine experiencing the worst drop of -4%, especially in key markets like New York and Washington, D.C., where declines were -5%. The industry is facing challenges, with premium-priced bottles not performing as expected. However, non-alcoholic wine has seen steady growth over the past decade, especially during the pandemic, with overall volumes up 18% year-on-year in 2023. Prosecco and the $50+ table wine market have shown promising signs, and strategic investments have made Krug, Domaine du Pégau, and Sassicaia top performers in the fine wine market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Bad news first: the American public is consuming wine with less enthusiasm than necessary for almost anyone in the industry to maintain a healthy bottom line. Considerably less enthusiasm than necessary. The beverage alcohol market has contracted quite a bit this year, and far more than forecasters expected, according to the latest numbers from global drinks data and analytics provider IWSR. Last year, the booze biz declined -2.6%, and forecasters expected numbers to be down again this year, but by a slightly more manageable -1.9%. But in the first seven months of the year, volumes were down overall by -2.8%. That’s overall. The news for wine was worse, with declines of -4%. When you drill down and look at different states, the numbers are even more concerning, especially in key markets like New York where wine volumes plummeted by -5%. Other markets that saw -5% or more were Washington, D.C., Idaho, Kansas, Maryland and Oregon. The least alarming drop happened in New Mexico, ...

Source: Thedrinkbusiness