Vinexpo, the world’s largest wine and spirit fair, has revealed that wine production and consumption will maintain an upward path between now and 2012.
Based on ISWR research it predicts production will continue to grow by 3.8% to reach 3.022 billion cases, an increase on previous growth of 1.78% between 2003 and 2007.
Global turnover growth, however, will slow between 2008 and 2012 with an average annual forecast of 1.8% compared to the 2.4% achieved over the last five years. Sales turnover of wine continues to grow faster than volume consumption; 1.8% for sales against 1.2% for volume.
Growth in consumption of wine imported into the UK could fall by half between 2008 and 2012. The UK was the leading wine importer in the world in 2007.