US to Lead Wine Consumption in Near Future
US is expected to leave Italy and France behind to become the leading wine consuming nation in the world by 2012, driven by the increasing number of women consumers.
March 16, 2009 (FPRC) -- According to a new research report “US Wine Market Forecast to 2012” by RNCOS, consumption of wine in America is anticipated to reach almost 906 Million Gallons per annum by the end of 2012. Consequently, US will become the largest consumer of wine in the world by outperforming Italy and France.
Though, even at this rate, per-capita consumption in the country is considerably low. Nevertheless, on an average, wine market has outshined the market of distilled spirits and beer for more than fifty decades. As per the report, USA is the fourth-largest wine producer nation globally, following France, Italy and Spain.
The research report further says that the growing number of new adult wine-consumers like women is anticipated to propel the market growth to much higher extent. This is because women comprise 52% of the country’s total population and 57% of the wine in the US is purchased by them. Thus, women represent huge market with immense purchasing power, which so far remained unnoticed. Women usually prefer judging the entire product, rather than getting swayed by wine ratings; however, label design, quality of wine, philosophy of wine, and shape of the bottle play important role in attracting the women consumers.
Additionally, in the 21st century, marketing strategies are increasingly focusing on women consumers, partly led by women themselves who are increasingly acquiring a significant stand in the wine market. Wine industry has now acknowledged that women account for over 50% of all the decisions related to the wine-purchase. Hence, it will be a good business practice to promote the products in such a way that they may appeal this potential section of the society. Definitely, overall outlook for the country’s wine market remains very optimistic.
“US Wine Market Forecast to 2012” provides a deep analysis of the market development and an extensive view into the US wine market. The report also forecasts on various segments of the US wine industry such as Wine Sales and Table Wine Sales. It is not based on a complex economic model, but provides a rough guidance to the direction of future movement of the market.
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