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Imported wine category shows growth after three-year slump by 123wert sdfsf
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Imported wine category shows growth after three-year slump |
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Business,Business News,Business Opportunities
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May 14, 2012 NEWS ABOUT HELP PUBLICATIONS SUBSCRIBE to SND Imported Wine Category Shows Growth After Three-Year Slump May 10, 2012 The U.S. market s imported still wine category grew in 2011 forthe first time in three years, due to strong growth from Old Worldand New World producers. Key factors contributing to the rebound include growing interestoverseas in the long-term growth potential of the U.S. wine market,the willingness of younger adults to experiment with new varietalsand a reduction in the California winegrape crush. Total (bottledand bulk) imported wine volume in the U.S.
increased 7.3% toapproximately 98.6 million cases in 2011, according to ImpactDatabank. The volume of imported bottled still wine advanced 2.7%to approximately 75.3 million cases, while imported bulk still winesurged 25.1% to the equivalent of approximately 23.4 million cases. The California winegrape crush has decreased for the last twoconsecutive years. The 9% decrease in 2011 to 3.3 million tons cameon the heels of a 3% decline in 2010. David Kent, CEO, The WineGroup, notes that California wine grape plantings have failed tokeep pace with the growth of domestic consumption.
It sincreasingly clear that California s share of the U.S. wine marketwill fall below 50% by the end of this decade, he says. Millennial consumers have a much greater interest in tryinglesser-known varietal wines, such as Malbec, which haven t beenplanted on a large scale in the U.S. With 13.3% growth overall last year to 28 million cases, Italy isfirmly entrenched as the imported wine leader in the U.S. BottledItalian wine imports rose by 11.5% in 2011, to more than 27 millioncases (nearly 97% of Italian wine imports are bottled).
Therecession has hurt everyone. We ve had to be proactive, saysLeonardo Frescobaldi, president of Tuscany-based Frescobaldi. American consumers are now more aware of the concept of value.People are ready to spend, provided the brand is prestigious. Kent anticipates that imported wine growth will strengthenthroughout the decade.
The two key factors driving current importdemand the relative shortage of California wine and the tendencyto explore by millennial consumers will not likely change in thenear-term. And if the U.S. dollar grows stronger, the import partywill likely kick into high gear, he says. Tagged : wine Previous : M. Shanken Chairman Inducted Into James Beard Foundation Who s Who Next : News Briefs for May 11, 2012. I am Textiles & Leather Products writer, reports some information about wall clock thermometer , mini pocket scale.
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