NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/03/04 - With increasing disposable income and rising awareness about medical benefit, the US wine consumption will surge at a CAGR of 3% during 2010-2013, RNCOS acknowledged.
According to our research report “US Wine Market Forecast to 2012”, wine market in the US is one of the fastest growing markets in the world, both in terms of production and consumption. Despite the cautious spending done by consumers during the last year, core consumer trends in the US were able to keep wine on the dinner table even amid tough economic conditions. Moreover, with the increasing disposable incomes, rising awareness about the medical benefits of wine, and the resultant consumer shift towards consumption of premium alcoholic beverages, wine consumption in the country is estimated to surge at a CAGR of over 3% during 2010-2013.
As per our study, wine market in the US has significantly expanded during the past few years on the back of increased consumption, government support, on-line wine purchasing, and growing young population. The US wine market will continue to grow at a rapid pace in coming years also and will become the largest wine consumer in the world, surpassing France.
Besides, it has been found that, ‘Table wine’ or ‘Still wine’, which contains less than 14% alcohol content, dominates the US wine market. People prefer to have less alcoholic drinks supplemented with food, whether it is at home or restaurants. Champagne or Sparkling wine has a huge growth potential as they have a very small market share.
“US Wine Market Forecast to 2012”, provides comprehensive analysis of the US wine industry by anticipating the current market trends and future prospects. It also covers state wise and products wise analysis of the industry in terms of production, consumption, import, and export.
The research reports also highlights the factors that will be responsible for the growth of the US wine market during the forecast period. It says that the millennial segment is the future of the US wine industry, and their numbers are increasing as younger members are attaining the drinking age. Moreover, rise in the number of female wine drinkers in marginal segment is fueling the growth in the US wine industry. This trend, coupled with government’s initiatives, is playing a greater role in promoting reforms and competitiveness in the US wine industry.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.