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PARIS: The United States is set to overtake France in the next five years as the world’s largest wine market, according to an annual study published Tuesday.

The study, commissioned by the organizers of the VinExpo trade fair in Bordeaux, forecast that global wine consumption over that time would grow five percent but the market value would increase 9 percent to $117 billion from $107 billion in 2005.

“The world is drinking more and better, more expensive wines,” Robert Beynat, the VinExpo secretary general, said.

The study predicted that U.S. consumption of still wine, that is, not sparkling wine, would rise to 27.3 million hectoliters, or 721.2 million gallons, in 2010 from 23 million in 2005.

That would exceed French consumption, which is predicted to fall to 24.9 million hectoliters from 27.4 million.

In terms of value, the still-wine market in the United States is expected to be worth $22.8 billion by 2010, up from $19.2 billion in 2005, the study said, with fastest growth rates expected for bottles costing more than $5 each a trend also expected in other industrialized countries.

Italy would remain the second- largest market in terms of volume with consumption in 2010 of around 27.2 million hectoliters, according to the study by the International Wine and Spirit Record, a London-based consultancy.

In all, the global market for still wines with an alcohol content of less than 15 percent by volume was seen growing to 224.8 million hectoliters in 2010 from 211.9 million hectoliters in 2005.

Asian wine consumption is expected to rise more than 21 percent from 2005 to 2010, with India and Taiwan leading the gains. China is Asia’s biggest market and may grow about 36 percent in that period to 5.7 million hectoliters a year.

China and Russia are emerging as growth areas for top-end, luxury French wines.

“China has put its nose in the wine market,” Chadronnier said. “It remains a niche market, but we are looking at it very closely.”

The study also looked at trends in the spirits industry, forecasting that the global spirits market would be worth $180.7 billion in 2010 compared with $170 billion in 2005.

Tequila, cognac and rum are set to replace vodka as the fastest growing spirits, the study found.

This entry was posted on Wednesday, February 21st, 2007 at 3:34 pm and is filed under Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

PARIS: The United States is set to overtake France in the next five years as the world’s largest wine market, according to an annual study published Tuesday.

The study, commissioned by the organizers of the VinExpo trade fair in Bordeaux, forecast that global wine consumption over that time would grow five percent but the market value would increase 9 percent to $117 billion from $107 billion in 2005.

“The world is drinking more and better, more expensive wines,” Robert Beynat, the VinExpo secretary general, said.

The study predicted that U.S. consumption of still wine, that is, not sparkling wine, would rise to 27.3 million hectoliters, or 721.2 million gallons, in 2010 from 23 million in 2005.

That would exceed French consumption, which is predicted to fall to 24.9 million hectoliters from 27.4 million.

In terms of value, the still-wine market in the United States is expected to be worth $22.8 billion by 2010, up from $19.2 billion in 2005, the study said, with fastest growth rates expected for bottles costing more than $5 each a trend also expected in other industrialized countries.

Italy would remain the second- largest market in terms of volume with consumption in 2010 of around 27.2 million hectoliters, according to the study by the International Wine and Spirit Record, a London-based consultancy.

In all, the global market for still wines with an alcohol content of less than 15 percent by volume was seen growing to 224.8 million hectoliters in 2010 from 211.9 million hectoliters in 2005.

Asian wine consumption is expected to rise more than 21 percent from 2005 to 2010, with India and Taiwan leading the gains. China is Asia’s biggest market and may grow about 36 percent in that period to 5.7 million hectoliters a year.

China and Russia are emerging as growth areas for top-end, luxury French wines.

“China has put its nose in the wine market,” Chadronnier said. “It remains a niche market, but we are looking at it very closely.”

The study also looked at trends in the spirits industry, forecasting that the global spirits market would be worth $180.7 billion in 2010 compared with $170 billion in 2005.

Tequila, cognac and rum are set to replace vodka as the fastest growing spirits, the study found.

This entry was posted on Tuesday, February 6th, 2007 at 1:10 am and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.