Australia: How has wine consumption in the UK been impacted by the economic and behavioral change?

Published 2024년 9월 17일

Tridge summary

The United Kingdom is Australia's top export market for wine volumewith the market's performance influenced by factors such as inflation, declining disposable income, rising alcohol duties, and decreasing wine consumption per person. Wine Australia's UK Market Update report[/INST] highlights the economic impact of the pandemic, inflation, and new alcohol taxation regime in the UK, which has led to a decline in alcohol consumption, particularly wine and spirits. Despite this, the number of weekly wine drinkers has grown. The introduction of the new alcohol taxation regime is expected to result in price increases for still wines and encourage the development of lower-alcohol brackets. The market also sees a growing demand for no-alcohol wine, with the off-premise channel being the primary driver of Australian wine exports to the UK, which have been influenced by Brexit and the COVID-19 pandemic. Wine Australia offers resources and insights for current or prospective exporters, including access to data and experts.

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

Original content

The United Kingdom is Australia’s number one export market by volume and Australian wine is well known in the market, especially in the off-premise. As such, Australian wine’s performance in the market is closely tied to the large-scale factors impacting the market – such as inflation and declining disposable income, increasing alcohol duties, and declining wine consumption per person. Wine Australia’s newly released UK Market Update report provides a detailed analysis of these trends for current and prospective Australian wine exporters. This Market Bulletin will highlight key parts of the report. Total inflation easing, though disposable incomes still low The United Kingdom’s economy has had a turbulent time through the pandemic period and in its aftermath. It is the sixth largest global economy after the United States, China, Japan, Germany, and India and was not isolated from the global effects of the COVID-19 pandemic. The gross domestic product (GDP) declined by 10 per cent ...

Source: WineAustralia