2010 Through the Looking Glass
Wednesday, 06 January 2010 15:43
2009 has been a year of seismic shifts for the global wine industry, as the year snuffs itself out it’s time to look at some of those changes and how they will affect the way we drink in 2010.
Rising Tiger
In 2009 China and Russia entered the top 10 wine consuming nations in the world for the first time. Hong Kong also replaced London as the second largest wine auction market in the world after New York. For the rest of us, this means that the world’s most sought-after wines are still going up in price and allocations are rarer to get your hands on.
Millennials
The new wine drinkers of today, born from 1970 through to the early nineties, are the ‘next generation’ that has arrived at legal drinking age. Much of the growth in US wine consumption is being driven by these so called Millennials, with their facebook wine clubs and live ‘twitter tastings’ online, they are discovering wine in record numbers. Wines are now being marketed, packaged and even conceived to target this consumer segment.
Too Much of a Good Thing
Wine production is still out of balance with consumption around much of the world – Australia is in chronic oversupply. Expect to see some good clearance bargains from many of the regions over the coming months, particularly from the southern hemisphere where wine tanks have to be emptied out before the coming vintage.
Viva Latina
South American wines continue to set record growth in global wine exports and dominate the value end of the global wine market. Chile and more recently Argentina have become well established in international markets, but look out for Brazil, which will soon enter exports markets in a serious manner.
Turning up the Heat
The effects of global warming have sent trembles throughout the wine industry. Annual temperature rises of even a few degrees will totally change the face of the world of wine – regions and countries once too cold to grow wine grapes would become attractive, whilst some of the most famous wine regions in the world would be rendered too hot to produce quality table wine. So, if you see a wine scribe walking down the street donning a sandwich board with the words, ‘The end is nigh’ emblazoned across it, wait till he marches past and take note of the message on the other side, ‘Drink up whilst its cheap!’
Rising Tiger
In 2009 China and Russia entered the top 10 wine consuming nations in the world for the first time. Hong Kong also replaced London as the second largest wine auction market in the world after New York. For the rest of us, this means that the world’s most sought-after wines are still going up in price and allocations are rarer to get your hands on.
Millennials
The new wine drinkers of today, born from 1970 through to the early nineties, are the ‘next generation’ that has arrived at legal drinking age. Much of the growth in US wine consumption is being driven by these so called Millennials, with their facebook wine clubs and live ‘twitter tastings’ online, they are discovering wine in record numbers. Wines are now being marketed, packaged and even conceived to target this consumer segment.
Too Much of a Good Thing
Wine production is still out of balance with consumption around much of the world – Australia is in chronic oversupply. Expect to see some good clearance bargains from many of the regions over the coming months, particularly from the southern hemisphere where wine tanks have to be emptied out before the coming vintage.
Viva Latina
South American wines continue to set record growth in global wine exports and dominate the value end of the global wine market. Chile and more recently Argentina have become well established in international markets, but look out for Brazil, which will soon enter exports markets in a serious manner.
Turning up the Heat
The effects of global warming have sent trembles throughout the wine industry. Annual temperature rises of even a few degrees will totally change the face of the world of wine – regions and countries once too cold to grow wine grapes would become attractive, whilst some of the most famous wine regions in the world would be rendered too hot to produce quality table wine. So, if you see a wine scribe walking down the street donning a sandwich board with the words, ‘The end is nigh’ emblazoned across it, wait till he marches past and take note of the message on the other side, ‘Drink up whilst its cheap!’
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Stories Drink Grape Vine 2010 Through the Looking Glass
Stories Drink Grape Vine 2010 Through the Looking Glass