The U.S. wine market is expected to continue its long-term growth streak in 2016, albeit at a modest 1.1 percent projected increase to nearly 327 million 9-liter cases, according to the current edition of the U.S. Wine Market: Shanken’s Impact Databank Review and Forecast. The market is expected to grow by more than 3.5 million cases this year.
While the U.S. has been the world’s top wine-consuming nation since 2013, growth has been sluggish during the past four years due to lackluster economic conditions. Before the latest recession, the wine market rose by an average of 3.1 percent annually for the five-year period from 2003 to 2008, but after solid 3.3 percent growth in 2011, annual volume gains were well under 1 percent in each of the subsequent four years. Still, consumption has increased by over 70 percent in the past two decades, despite two recessions in that time span.
For more insights into the 2016 market, including analysis of trends in sparkling wine sales and which grape varieties show promise, visit ShankenNewsDaily.com.