Growing Preference for Locally Produced Wines Aids Growth of Mexican Wine Sector
20 August 2013
The renaissance of locally produced wines will aid the growth of the Mexican Wine sector to 2017, according to a new report by Canadean. The growing interest of the middle class regarding local wines is helping to push growth.
The Mexican Wine sector value will grow at a Compound Annual Growth Rate (CAGR) of 7.4% 2012 to 2017. Volume will grow at a CAGR of 8.5% for the same period.
Locally produced wines have traditionally had a lackluster reputation in Mexico. However, this is slowly being overcome thanks to a growing interest in domestically-produced wines from the middle class, aided by educational marketing campaigns from producers. Still Wine took the largest share of the sector in 2012, with value and volume shares of 73.0% and 78.9% respectively. The category will also display the most growth over the next five years, at a value CAGR of 7.8% and volume CAGR of 9.0% to 2017.
Fortified Wines are relatively small in the growing Mexican Wine sector, with a value share of 4.5% and volume share of 8.5% in 2012; the category will show minimal growth to 2017, at a value and volume CAGR of 2.4% and 3.8% respectively.
Hypermarkets & Supermarkets have gained the most share in recent years
Almost all channels have gained share of the sector from 2009 to 2012, with Hypermarkets & Supermarkets gaining ahead of all other channels with an increase in market share of 0.5%, and eRetailers and the On Trade channel gaining equal market share with an increase of 0.2%.
The Canadean report: ‘The Future of the Wine Market in Mexico to 2017’ was published in August 2013.
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