Study Reveals UK Drop from Top Spot as Most Important Wine Market
13th May 2011 15:05 - Food
A survey of around 200 global wine professionals by Just-Drinks has shown that for the first time in five years, the UK is not the most important market for wine producers.
The reasons cited in the resulting report for this change in attitude include growing supermarket dominance, tax increases on alcohol and promotion driven pricing strategies.
Author of the report, Richard Woodard, commented: “These and other factors conspire to narrow margins for distributors and producers, leading many to rethink their global strategy and target their wines at other, more receptive markets.”
He added: “The UK remains a large and mature wine market, in which the lack of a large-scale domestic production base creates an openness not seen in most other major wine-consuming countries... The size and diversity of the UK wine market is not in question; its ongoing viability in economic terms for a growing number of wine producers, however, is.”
Only 42% of the wine professionals questioned in the survey agreed that the UK is the most important wine market in the world, which is a significant drop from the 80% who thought so in 2007.
Sign up for free insights from your sector…
We hope that you have found this article useful. This section is freely available for all to use. Please help support it by liking us or following us on our social media platforms:
For updated Food insights please follow us on @DJS_FoodDrink or use our RSS feed