Wine Sales in Russia to Grow to 2017
14 October 2013
The Wine industry in Russia is expected to grow up to 2017. According to the latest research by Canadean, the wine market is forecast to improve at a value Compound Annual Growth Rate (CAGR) of 2.8% during 2012–2017 with volume growth being slightly lower, recording a 1.8% CAGR.
The star of the Russian wine industry to 2017 is Sparkling Wine. The category is forecast to see positive growth of 4.9% for value and volume, leading up to 2017. Canadean’s research shows that Sparkling Wine is breaking out from being only consumed for celebratory occasions. In 2012, the category recorded just over 25% share of the overall market, whilst its value share was just below half.
Still Wine accounted for 58.8% of the volume of the Russian market and 40.8% of its value, making it the largest category in 2012. The CAGR is projected to be below the sector average, with a value growth of 1.0% and volume of 1.1% to 2017.
In contrast, Fortified Wine claimed a 17.9% volume share in 2012, but the category is forecast to see declining demand for both value and volume; a CAGR of -0.4% and -0.3% respectively. Russian consumers appear to be losing interest in Fortified drinks.
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