Sparkling Wine Forecast to See Highest Growth in Value and Volume in Italy to 2017
24 September 2013
The Italian Wine sector is forecast to see only minor growth in the years leading up to 2017, with a value Compound Annual Growth Rate (CAGR) of 0.1%, and volume growth at 0.2%. According to research by Canadean, Sparkling Wine is projected to record a value CAGR double that of the sector average, at 0.2% to 2017 while volume growth will be at 0.7%.
Demand for Wine in Italy has suffered as a result of changing consumer habits, and the continued economic slump the country has faced in recent years. According to Canadean’s market leading data, this is a trend that Italy shares with other major European wine producing nations, such as France and Spain. In 2012, Sparkling Wine accounted for 4.6% of the volume in Italy’s Wine sector, whilst the more expensive nature of the product saw a much higher value share of 11.5%.
Still Wine took the largest category share in 2012, accounting for 86.9% of total value, and a higher volume share of the market at 94.2%. In the years up to 2017, the category is forecast to record value and volume CAGR of 0.1% and 0.2% respectively; in line with the sector average.
Fortified Wine is projected to record the same value CAGR as Sparkling Wine, at 0.2% to 2017. Fortified Wine currently accounts for a much smaller share of the market, as seen in the table below. In relation to volume growth, the category is expected to increase by a higher percentage, with Fortified Wine seeing a 0.6% growth,
The Canadean Report: ‘The Future of the Wine Market in Italy to 2017’ was published in September, 2013
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