Falling consumption, a move to no- and low-alcohol alternatives, falling prices and market consolidation have all been familiar themes for the wine and spirits industries over the past couple of years and a survey of the industry suggests there is more to come in the year ahead.
The 2025 Golden Vines Report by Liquid Icons polled more than 800 wine merchants, sommeliers, Masters of Wine, and professionals across the liquor industry – both in wholesale and retail – to get their prognosis for the industry's immediate future. And the results don't really make entirely happy reading.
Less than half the respondents in the wine and spirit categories – 46% in each case – were optimistic about the coming year, with 15% of respondents neither positive nor negative in the wine industry, while 39 rated their outlook as negative or very negative. For spirits the neutral/negative split was 25 and 29%. So at least the optimists outweigh the pessimists.
The major challenges and trends the report highlighted for the fine wine market make for familiar reading.
First up was a decline in consumption and a shift to "drink less, but better", a mantra that the industry has heard a lot of over the past couple of years.
It's effectively split into two parts. A downward volume trend with a substantial number reporting consumers are drinking less wine overall, largely due to health concerns, price rises, and changing lifestyles, especially among younger generations.
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