GLOBAL: UK no longer wine world's most important market - survey
The UK is proving too much of a headache for the world's wine producers, according to the just-drinks survey
For the first time in five years, the UK is no longer the most important market for the world's wine producers, according to a just-drinks survey of wine professionals.
A report on the current state of the UK wine market, which is set to be presented by just-drinks at next week's London International Wine Fair, has found that heads are being turned away from the UK by the likes of the US and Asia-Pacific. Only 42.6% of survey responses agreed that the UK is the most important and dynamic wine market in the world, while, back in 2007, around 80% of survey responses thought the UK was the top market for wine.
Among the reasons for the change in sentiment are growing supermarket dominance, tax increases and promotion-driven pricing strategies.
“These and other factors conspire to narrow margins for distributors and producers, leading many to rethink their global strategy and target their wines at other, more receptive, markets,” said Richard Woodard, the compiler of the survey and report author.
“The UK remains a large and mature wine market, in which the lack of a large-scale domestic production base creates an openness not seen in most other major wine-consuming countries,” Woodard added. “The size and diversity of the UK wine market is not in question; its ongoing viability in economic terms for a growing number of wine producers, however, is.”
The results of the survey of around 200 professionals operating in the global wine market, will be revealed at the wine fair on Wednesday (18 May) between 1615 and 1730, when editor Olly Wehring presents just-drinks 'State of the Nation 2011' briefing.
For further details, and to book a seat at the briefing, click here.
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