Worldwide Wine Consumption Conundrum
I’m a man of science, of statistics and objective scrutinization. So when it comes to wine consumption statistics, I tend to take them to heart. In 2008, global wine consumption shrunk by almost 5%. This was predominantly due to reduced consumption in the ‘traditional’ wine producing regions.
However, it’s not all bad news as global wine exports increased by a substantial 37% in 2008, suggesting the accelerated globalization of the wine industry. This means that even though people are drinking less wine, wine produced in one region is becoming more available to foreign markets.
Then there is the more subjective approach to analyzing the current state of the global wine market. In my humble opinion wine as a global ‘brand’ is as healthy as can be. I see more people buying wine, talking about wine, more wine in the general media, wine online, wine accessories… I can go on and on. In reality, wine is as popular as ever.
So although statistics paint a rather dismal picture for global wine consumption, the feeling is more positive on the ground. I suppose one could call it the wine consumption conundrum J
Cheers!
Brandon Marc
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Although, if I were a collector, I wouldn’t be guzzeling down my investements during an economic crisis!
I bet the economy is preventing people from buying more wine, and they are turning to what is stashed in their wine cellars for actual drinking.