The global economic crisis affected the wold wine market in a serious way in 2008 and 2009. The world wine consumption decreased in 2008 and 2009 interrupting the upward trend that began in the mid 90s. Hence, in two years, the industry suffered, in terms of volume, a regression of approximately 10 Mio hl in annual consumption. In 2009 also the global export decreased in volume and value showing the first regression since a long time. Export value reduction seems related to two factors. One the one hand, exporting countries largerly reacted to the economic downturn driving price down; on the other hand, the emergence of environmental issues and the growth of distributors’ market power is moving the bottling phase (and the place of the creation of value) closer to distribution and consumption locations so a growing share of exchanges concern bulk wines. Despite current difficulties, the conditions for a resumption of world wine market remain. Wine is still a modern product, consistent with the contemporary lifestyles, and some very large consumer countries still have low per capita consumption. Therefore, the improvement of economic conditions could lead to a consumption increase boosting the wine global demand and international trade. However, the achievement of this perspective is dependent on specific conditions related to the marketing efforts of the wine industry. In importing consuming countries it will be necessary to understand attitudes of new wine consumers and to cooperate in order to build a retailing system able to support the increase of wine consumption. In traditionally wine consuming countries it is urgent to give new sense to a moderate daily or almost daily wine consumption, returning a full legitimacy to the wine industry. In order to follow a positive evolution of wine demand, the industry should also respond to the increasing demand for a full sustainability of the wine production, combining cost and environmental impact reduction through an intense process of innovation adoption.
The world wine market: new trends and opportunities / Pomarici, Eugenio. - (2010). (Intervento presentato al convegno Infowine forum tenutosi a Vila Real (Portogallo) nel 25 - 27 maggio 2010).
The world wine market: new trends and opportunities
POMARICI, EUGENIO
2010
Abstract
The global economic crisis affected the wold wine market in a serious way in 2008 and 2009. The world wine consumption decreased in 2008 and 2009 interrupting the upward trend that began in the mid 90s. Hence, in two years, the industry suffered, in terms of volume, a regression of approximately 10 Mio hl in annual consumption. In 2009 also the global export decreased in volume and value showing the first regression since a long time. Export value reduction seems related to two factors. One the one hand, exporting countries largerly reacted to the economic downturn driving price down; on the other hand, the emergence of environmental issues and the growth of distributors’ market power is moving the bottling phase (and the place of the creation of value) closer to distribution and consumption locations so a growing share of exchanges concern bulk wines. Despite current difficulties, the conditions for a resumption of world wine market remain. Wine is still a modern product, consistent with the contemporary lifestyles, and some very large consumer countries still have low per capita consumption. Therefore, the improvement of economic conditions could lead to a consumption increase boosting the wine global demand and international trade. However, the achievement of this perspective is dependent on specific conditions related to the marketing efforts of the wine industry. In importing consuming countries it will be necessary to understand attitudes of new wine consumers and to cooperate in order to build a retailing system able to support the increase of wine consumption. In traditionally wine consuming countries it is urgent to give new sense to a moderate daily or almost daily wine consumption, returning a full legitimacy to the wine industry. In order to follow a positive evolution of wine demand, the industry should also respond to the increasing demand for a full sustainability of the wine production, combining cost and environmental impact reduction through an intense process of innovation adoption.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
