Wine 2027: the market will be worth $412.9 billion. The U.S. still No. 1, with $71 billion

In an age of history and economics in which changes of scenario, even sudden and profound ones, are always just around the corner, launching into long-term forecasts is an increasingly complicated exercise. Yet that is what statistics are for, too, and looking specifically at the wine sector, if the macrotrends are that of declining consumption in quantity, and consumption increasingly concentrated on the “premium” end of the spectrum, the estimates of overall wine market turnover for the next 4 years are decidedly positive and growing sharply. At least according to data recently published by the portal Statista, from whose forecasts (to be taken, of course, as rough indications), it appears that the total wine turnover, in 2027, will touch $412.9 billion, with a growth of 23.9% per year between 2023 and 2027. And the growth, at a rate of 24.6% per year, will be even stronger in that Europe where mainly thanks to Italy, France and Spain, but also Germany, Portugal, the rampant England and beyond, well over half of the world’s wine is produced. And in the “old continent”, in 2027, the total wine-related turnover is expected to clearly exceed in 198 billion dollars. The bulk of the business, according to analyses and surveys summarized by Statista, will still come from the still wine segment, whose sales are expected to grow by +21.9% per year until 2027, to touch, in Europe, $148 billion. But in line with what we have seen in recent years, sparkling wines, including Prosecco, Franciacorta, Trentodoc, Alta Langa and Asti, to name the most famous Italians, passing through Champagne and Cremant in France, Cava in Spain and not forgetting sparkling wines made in Uk, will grow well above average, with a “sparkling” +34.1% per year, to reach $39.2 billion in 2027. And it will be almost all value-related growth, as market volumes, in Europe, will grow “only” by +9.4% per year, for sparkling wines, to reach 1.2 billion liters in 2027. But if Europe, then, will play a very important role in the wine market of the future, at No. 1, by market value, there is and will remain the U.S., which will be the first wine market also in 2027, with an estimated $71 billion ...