Imported Wine to Gain Market Share
Imported Wine to Gain Market Share
Apr 17, 2012 6
(Wines&Vines) - Consumers will turn to affordable imported wine in coming years as the domestic wine industry works to overcome a production shortage. That scenario is one prediction from Silicon Valley Bank’s annual state of the wine industry report released this morning. Rob McMillan, founder of the bank’s wine division, said the weakening value of the euro versus the dollar and California’s short grape supply will cede market share to imports. “As continuing demand growth in wine is starting to exceed our ability to fill from domestic sources, market share in total wine sales will be handed over to imports in 2012. The guess here is that growth will come from EU countries,” McMillan writes in his report.
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