Tuesday, 25 January, 2022
Vinepair, Julia Larson
The Silicon Valley Bank’s recently published 2022 State of the Wine Industry report shows the scale of the issue, using industry-wide surveys and data, sourced from reputable organizations such as the Wine Institute.
In 2021, Americans did not consume more wine than in the previous year. Instead, wine’s market share decreased, with overall declines for on- and off-premise sales. Wine wholesale also decreased, while spirits sales grew compared to 2020 totals.
The data paints a contrasting picture to the comeback many had hoped (and predicted) for 2021, with report author Rob McMillan portioning some of the blame to the competitive on-premise market.
Click HERE to read the full article.