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Wine Market Report Plus 2007
Key Note Publications Ltd, Nov 2007
UK consumers spent a record £10.65bn on wine in 2006, but are predicted to spend even more in 2007, with wine continuing to take market share from beer and spirits. As a replacement for the declining ready-to-drink (RTD) sector — which includes alcoholic beverages such as Smirnoff Ice and Bacardi Breezer — wines such as sparkling rosé and the trendiest varietals (grape types), Pinot Grigio for example, have given wine an unusual fashion boost in the mid-decade.
Away from the fashion drinks market, wine shows some signs of saturation. This saturation follows 2 decades of good growth, which saw wine adopted as a regular drink (and supermarket trolley item) by the majority of the British population even though almost all wine is imported (British production being negligible). Nevertheless, regular consumer surveys show that penetration for drinking wine has levelled off at around 65% of adults; however, the typical drinker is spending more per bottle as tastes in wine become more sophisticated.
The surveys also reveal that a third of adults buy supermarket `own-label' wine, indicating the importance of the grocers' superstores in developing a take-home wine market. In the on-trade, the conversion of many public houses into gastro pubs has helped wine sales, as has the UK-wide ban on smoking in pubs and restaurants since July 2007.
Australia continues its inexorable rise as the UK's leading supplier, having overtaken France in 2005 to reach a market share of 23% in 2007. Overall, the New World countries have more than 50% of the UK market, from a minor position 20 years ago.
New World suppliers have gained share by focusing their marketing on a small number of popular brands, such as Jacob's Creek or Blossom Hill, whereas the European supply remains highly fragmented across individual growers. In a market that is fragmented overall, there has been some consolidation internationally, producing giant brand owners such as Constellation Brands of the US, Foster's Group of Australia and Pernod Ricard of France.
Prospects for future value growth remain reasonably good, with wine increasingly seen as the most civilised way of drinking alcohol, and a trend towards the consumption of more expensive wines. Key Note forecasts an annual increase of between 2.9% and 5% between 2008 and 2012.
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