Within the next three years the UK wine market will grow so big that wine drinkers here will spend more on still and sparkling wine than any other European country according to a report sponsored by VINEXPO.
By 2010 wine retail sales will reach nearly £5.5 billion at which point the British will be spending more on wine than the French, Germans or Italians, making the UK the biggest retail wine market in Europe.
However, this is not explained by the amount of wine we drink here in the UK - less than the top four wine drinking countries France, Italy, the USA and Germany with the UK coming in at 5th - but by the fact we pay considerably more for a bottle of wine than most other European countries.
The research also shows that Australia has overtaken France as the UK’s number one wine supplier. Between 2001 and 2005 the volume of French imports fell by just under 8% while imports of Australian wines rose by just over 50% to put it at the top. At the same time imports of wine from the USA more than doubled while imports from South Africa rose by more than 50%.
Beyond the UK, the research confirms that the USA will become the world’s biggest wine consumer by 2010, overtaking Italy and France, whilst China will be the ninth biggest wine consumer by 2010.
The study of the UK wine and spirits markets for 2005, with forecasts to 2010, is part of a global research project commissioned by VINEXPO, the world’s biggest wine and spirits fair, held in Bordeaux, France. The research was conducted by leading drinks researchers IWSR in 28 wine producing countries and 114 wine and spirits consuming markets.