UK wine market will grow but spirits will struggle, says report
The UK wine market will enjoy strong volume and value growth over the next three years, according to analysts at the International Wine and Spirit Research.
Its report predicts still wine volume sales will rise 5.5% to 141.2 million 9-litre cases by 2018, while value sales will climb 6.1% to £11.3 billion.
“The economy in the UK is improving,” said Guillaume Deglise, chief executive of Vinexpo, who presented the figures at a press conference discussing the Bordeaux wine fair’s 2015 show. “The economy is showing good signs, as opposed to other countries in mainland Europe.
“The market dropped 2.9% in 2013 but stabilised in 2014 and we expect the market to recover and grow now.”
IWSR predicts sparkling wine volumes will grow 11.1% to 12.5 million 9-litre cases by 2018, cementing its position as the world’s fifth largest consumer of sparkling wine.
But the report believes the spirits market will drop slightly over the next few years. It anticipates imported spirits volumes to grow 5.5% to 14.6 million 9-litre cases, but this will be offset by domestic spirits sales dropping 6.9% to 16.1 million 9-litre cases.